Instacart’s Technology Business

TODAY’S STORY

Instacart’s bread and butter is grocery delivery. It now wants to be the e-commerce technology provider of choice for grocers.

One product that’s getting some traction is FoodStorm, Instacart’s order management system. In November, Sprouts Farmer Market rolled out FoodStorm across its 400+ locations. The company also developed Caper Carts, intelligent carts that help shoppers save money while they shop and skip the checkout line, and Carrot Tags, electronic shelf software.

Instacart CEO Fidji Simo contends Wall Street is still undervaluing the company’s grocery bet despite being up 79% year-to-date. The company’s market value today sits at $11.27 billion, well down from its pre-IPO peak of $39 billion, but by shifting the business away from its reliance on low-margin grocery delivery to higher-margin software and online advertising, it may have more room to run in 2025.

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