Instacart is set to launch an initial public offering, even after the company slashed its own valuation by almost 40% to around $24 billion earlier this year
from DoorDash—a company more than 2.5 times Instacart’s size in terms of revenue last year. DoorDash, which is profitable on the basis of adjusted earnings before interest, taxes, depreciation and amortization, reported a second-quarter net loss of over $260 million as it focuses on international expansion.
In recent public appearances, Instacart has been seeking to differentiate itself from its competition. In a Stratechery podcast late last month, Chief Executive Fidji Simo emphasized Instacart’s omnichannel experience, given its recent push into technology for shoppers to use in store. She stressed that omnichannel shoppers are “more valuable, more retentive” than those shopping solely online or in store, according to a Gordon Haskett note summarizing the podcast.
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