Instacart Revenue and Usage Statistics (2024)

Image Credit: VentureBeat

What is Instacart?

Instacart is an on-demand grocery delivery company that provides grocery shopping, delivery, and pick-up services in the USA and Canada through a website and mobile app. Founded by Apoorva Mehta, Brandon Leonardo, and Max Mullen in 2012, Instacart currently has a valuation of about $24 billion. 

Alongside its standard model, Instacart also offers a subscription package called Instacart Express for $9.99 per month or $99 per year. The membership allows members to waive delivery charges for orders over $35.

Company Overview

HeadquarterSan Francisco, CA
Number of Employees10,000+
Founded DateJune 2012
FoundersApoorva Mehta, Brandon Leonardo, Max Mullen
Crunchbase ProfileProfile Link
IPO DateSeptember 19, 2023
Ticker SymbolCART

Funding Rounds

  • January 2015: Instacart raised $220 million at a $2 billion valuation (Bloomberg)
  • March 2017: Instacart raised $400 million at a $3.4 billion valuation (Techcrunch)
  • February 2018: The company raised $200 million at a $4.2 billion valuation. (Techcrunch)
  • October 2018: Instacart valued at $7.6 billion after raising $600 million. (Reuters)
  • November 2018: Instacart raised an extra $271 million. (Reuters)
  • June: 2020: Instacart raised $225 million at nearly $14 billion valuation. (CNBC)
  • October 2020: Instacart valuation more than doubled to $17.8 billion after raising $200 million. (CNBC)
  • March 2021: Instacart raised $265 million from existing investors, at a $39 billion valuation. 

Instacart Valuation

Instacart went public on September 19, 2023. Instacart closed its first day of trading at $33.70, up 12% from its initial public offering price of $30.

  • On May 12, 2022, Instacart announced that it confidentially filed for an IPO. However, it was said on October 2022 that the company pull back on its IPO plans. (The WSJ)
  • Instacart valuation was slashed by 40% to about $24 billion, in order to attract talent and adapt to market conditions. (Bloomberg)
  • December 2022: According to The Information, Instacart, which bankers expect will list its shares publicly in 2023, has cut its internal valuation to around $10 billion.
Instacart Valuation
December 2022$10 billion
March 2022$24 billion
March 2021$39 billion
October 2020$17.8 billion
June 2020$13.7billion
October 2018$7.6 billion
March 2017$3.4 billion
January 2015$2 billion

Instacart Revenue Statistics

  • Instacart revenue for the full year 2023 was $3,042 million, up 19% year-over-year, representing 10% of GTV. For 2023, the company reported a GTV of 30,322 million, up 5% year-over-year. Transaction revenue for the full year was $2,171 million, up 20% YoY, while advertising revenue was $871 million, up 18% YoY.
  • Instacart revenue for the first quarter of 2024 was $820 million, up 8% year-over-year, representing 7.2% of GTV. For the quarter, its GTV increased 11% YoY to $8,319 million. Its transaction revenue totaled $603 million, up 8% YoY, while advertising revenue was $217 million.

Instacart Usage Statistics

  • For the first quarter of 2024, Instacart orders reached 269.2 million, up 3% year-over-year. For the full year 2023, the company reported 72.8 million orders, 9% year-over-year.
  • In 2020, Instacart reached 10 million active users and 500,000 active shoppers. 
YearInstacart UsersInstacart Shoppers
20209.6 million500,000
20195.5 million130,000
20184.3 million70,000
20173.3 million

Instacart’s market share of US downloads among the top food delivery apps surged from 5 percent in 2019 to 12 percent in 2020, where it remains for the first two months of 2021. (Sensor Tower)

Written by Jordan Bevan


Leave a Reply

Your email address will not be published. Required fields are marked *


Uber Revenue and Usage Statistics (2024)

Music streaming companies push back against Apple’s App Store proposal