Maplebear Inc
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Maplebear Inc
Maplebear Inc., better known by its brand name Instacart, began its journey in 2010, amid a burgeoning demand for convenient, time-saving solutions in everyday life. Founded by Apoorva Mehta, a former Amazon employee, the company originated from Mehta's vision to capitalize on the growing market for grocery delivery services. Utilizing technology as its backbone, Instacart developed a user-friendly platform connecting customers with a personal shopper network. Customers browse and select grocery items through the Instacart app or website, choosing from a wide range of local grocery stores. Personal shoppers then handpick and deliver these items, offering the convenience of door-to-door service.
Instacart's revenue model is multifaceted. The company primarily earns through delivery fees, which customers pay per order or opt to avoid through a subscription service known as Instacart Express. This subscription provides unlimited deliveries for a flat monthly or annual fee. Further, Instacart garners income from partnerships with grocery retailers who pay for advertising and promotions on the platform, effectively expanding their customer reach without managing deliveries independently. These streams of income highlight the model's robustness and adaptability, positioning Maplebear Inc. as a significant player in the evolving landscape of on-demand retail services.
Maplebear Inc., better known by its brand name Instacart, began its journey in 2010, amid a burgeoning demand for convenient, time-saving solutions in everyday life. Founded by Apoorva Mehta, a former Amazon employee, the company originated from Mehta's vision to capitalize on the growing market for grocery delivery services. Utilizing technology as its backbone, Instacart developed a user-friendly platform connecting customers with a personal shopper network. Customers browse and select grocery items through the Instacart app or website, choosing from a wide range of local grocery stores. Personal shoppers then handpick and deliver these items, offering the convenience of door-to-door service.
Instacart's revenue model is multifaceted. The company primarily earns through delivery fees, which customers pay per order or opt to avoid through a subscription service known as Instacart Express. This subscription provides unlimited deliveries for a flat monthly or annual fee. Further, Instacart garners income from partnerships with grocery retailers who pay for advertising and promotions on the platform, effectively expanding their customer reach without managing deliveries independently. These streams of income highlight the model's robustness and adaptability, positioning Maplebear Inc. as a significant player in the evolving landscape of on-demand retail services.
Strong Growth: Instacart reported Q3 orders of 83.4 million, up 14% year-over-year, and gross transaction value (GTV) of $9.17 billion, up 10% year-over-year, driven by both user and order frequency growth.
Profitability: Net income rose 22% year-over-year to $144 million, and adjusted EBITDA also increased 22% to $278 million, with positive unit economics across all basket sizes.
Advertising Expansion: Advertising and other revenue grew 10% year-over-year and topped $1 billion over the last 12 months, but Q4 guidance expects a slower 6–9% growth due to large brands moderating spend.
Enterprise Platform Momentum: The enterprise segment continues to expand, now powering over 350 retailer e-commerce storefronts and launching new partnerships, with international efforts beginning in Europe and Australia.
AI Solutions Launch: Instacart launched a suite of AI products aimed at retailers, with early interest from partners, and plans to monetize these solutions over time.
Share Repurchase: Instacart increased its buyback program by $1.5 billion, showing confidence in long-term growth.
Q4 Guidance: Q4 GTV is expected to be $9.45–9.6 billion (up 9–11% YoY), and adjusted EBITDA is guided between $285–295 million.
