Stefan Zorn’s Post

🚀🛒 Exciting news alert! 🛒🚀 What's the future looking like for Instacart after their groundbreaking IPO success? Will they continue to dominate the online grocery market or face challenges ahead? 🤔 Don't miss out on the latest scoop! #Instacart #TechNews #BusinessWorld 🛍️📈 #StayTuned #ClickForMore #ShareNow article: https://buff.ly/4bRqc9g

Unlock the Potential: Navigate Market Volatility and Embrace Growth in 2024! The IPO market encountered a slow start in the previous summer, notably with Instacart being undervalued, causing uncertainty throughout 2023. Experienced CFOs discussed the current climate, likening it to historical downturns such as the dotcom crash and the Great Recession. The emphasis was on tech companies needing to review revenue projections and implement strict cash management strategies to navigate market volatility cautiously. Stressing the importance of regularly revisiting long-term plans and swiftly adapting them to changing scenarios was a key takeaway. Despite the hurdles, there was a hint of optimism for 2024. The anticipation centered around a potential increase in IPOs as interest rates stabilized and unemployment rates dropped, indicating a more favorable atmosphere for market debuts. There was a positive outlook that the IPO landscape could significantly improve, with expectations of numerous companies considering public offerings in the following year, potentially giving a much-needed boost to the market. Ready to seize the moment? Connect with us for expert market insights and strategic planning tailored for success in 2024. Let's chart a course for growth together! https://ow.ly/PxgX50QnOHu #business #strategy #growth #tpg

Instacart is laying off 7% of its workforce to refocus the company on higher-margin business streams like advertising and enterprise products. This is certainly where growth lies, but the company needs its core e-commerce business to drive advertising, and it’s certainly not the only company providing technology like smart carts, ESLs and other solutions. Thoughts on what this move means for Instacart and what lies ahead?

Instacart slashing workforce! As Instacart unveiled its fourth-quarter financial results, revealing revenue of $803 million, the company also announced a significant restructuring initiative. Approximately 250 employees, constituting about 7% of the workforce, are set to be laid off. In a letter to shareholders, CEO Fidji Simo explained that this move is aimed at reshaping the company and streamlining operations to focus on key initiatives with transformative potential for both Instacart and the industry at large. Notably, this includes strategic advertising collaborations with Roku Inc. and Google Ads. Alongside the workforce reduction, three c-suite executives, COO Asha Sharma, CTO Varouj Chitilian, and Chief Architect JJ Zhuang, are departing for personal reasons. Instacart will only be filling the CTO role. Despite solid Q4 results, which saw increases in orders and GAAP gross profit, Instacart faced a year-over-year decline in GAAP net profit. The company attributed this to the absence of a prior-year health benefit. Looking ahead, Instacart anticipates adjusted EBITDA of $150 million to $160 million for the current quarter. CEO Simo remains optimistic, citing ongoing momentum in order and gross transaction value growth, expanding profitability, and increasing sales share in both small and large baskets compared to other digital-first platforms. She expects strong performance in Q1 2024, with anticipated acceleration in year-over-year gross transaction value growth for a fourth consecutive quarter. #Instacart #restructuring #businessnews #finance #industryinsights #egrocery #retailtech #retail #foodtech

If you work at a private company and a tender offer is made, it could make a lot of sense for you to participate. You've done the hard part - you're at a company that has done well and your equity has grown into a significant number for you. But there's no guarantee that your company will continue to do well and your stock go up. Just take a look at CART - Instacart (now called Maplebear) At its height in 2021, Instacart was believed to be worth between $40B - $50B. Like many other companies during a tough 2022, Instacart saw its valuation drop drastically, at one point cutting their value to $25B. They ended up IPO'ing a couple of months ago in September. This is the moment everyone waits for when working at a private company is going public and we're all happy right? Not exactly. CART's valuation is roughly $7B as of today, an astounding 86% drop from its peak. Concentration in a stock can help you accumulate wealth, but diversification is what will help you keep it.

Instacart announced Tuesday it will lay off approximately 250 workers, or roughly 7% of its total global workforce, as part of a corporate restructuring plan. Most of the layoffs will be completed by the end of March. “This will allow us to reshape the company and flatten the organization so we can focus on our most promising initiatives that we believe will transform our company and industry over the long-term,” Instacart CEO Fidji Simo said in a Tuesday letter to shareholders. “I am confident this will enable us to execute with even more focus and efficiency moving forward.” Instacart’s chief technology officer, chief operating officer and chief architect are also departing the company, Simo announced. All are leaving for personal reasons, CNBC reported. Only the CTO role will be backfilled. This is an interesting change! Driving better results by the Senior Management and Board of Directors - https://lnkd.in/gnhH3wAs   Ethical and Business Processes - https://lnkd.in/gsFVVy6c   Ethics - https://lnkd.in/gnCuyE5D   ESG HR, Human Rights, and Corporate Governance - https://lnkd.in/gE6kU23Y   Corporate and Data Management Ethical Practices - https://lnkd.in/gPw_KUWf   Close, Consolidate and Reporting – https://lnkd.in/gQ5ENXrK   Emergency, Crisis, and Risk Management - https://lnkd.in/ggeeGUtF   Public Sector Governance - https://lnkd.in/g_-685du   IOT - https://lnkd.in/gVMyjPne   Audit Analytics - https://lnkd.in/gjKBFCBB   Data Management - https://lnkd.in/gHBCBShk   ESG - https://lnkd.in/gTvb5_tx   CFO and Cyber security - https://lnkd.in/gmKwR_bK   Generative AI and the Office of Finance - https://lnkd.in/gnViezNd   Microsoft Excel and the Data Journey - https://lnkd.in/geQx52Ce   Facilities - https://lnkd.in/eTRBrYP3   Customer Success Management - https://lnkd.in/gEtSMeep   Biodiversity - https://lnkd.in/gyQX5Ups      

People are asking me about #Uber shutting down #Drizly and why they would do that. It's pretty straightforward: Uber bought Drizly for the retail network... for access to thousands and thousands of liquor stores, as well as the alcohol industry relationships/connections. Now that they have the retail network and the supplier relationships, there's no need for them to keep funding a third consumer brand in Drizly. Instead, they can keep the core focus on Uber & Uber Eats. Funding consumer brands is an expensive, capital intensive game. They bought Drizly for a reason. Mission accomplished. To all of my former colleagues at Drizly over the years... you rock. There have only been a handful of consumer tech companies in Boston to exit or IPO over the past decade. You were a part of one. Who will be next? TripAdvisor spinoff in 2011 Kayak IPO 2012 ($1.2 B) Wayfair IPO 2014 ($2.3 B) CarGurus IPO 2017 ($3 B) PillPack sold to Amazon 2018 ($1 B) Draftkings IPO 2020 ($6 B) Drizly sold to Uber 2020 ($1.1 B) Toast (B2B2C) IPO 2021 ($20 B) iRobot sold to Amazon in 2023 ($1.7 B)

Uber taking over Instacart seems interesting. It would give Uber instant access to grocery delivery #uber #instacart #grocerydelivery https://buff.ly/3HvYxwM 📝 Highlights from the article ➡️ Wolfe Research analyst suggests Uber could acquire Instacart for $40 per share. ➡️ Merger could help Uber sustain growth in grocery delivery and compete against rivals like DoorDash and Amazon. ➡️ Instacart's stock is currently trading at depressed levels, making the transaction potentially advantageous for Uber.

Instacart to lay off 250 workers, part ways with 3 execs In a bid to navigate the challenges of the post-IPO landscape, Instacart, the online grocery giant, recently announced layoffs and C-suite changes, according to a report from Grocery Dive. Following its initial public offering in September, Instacart has faced scrutiny from investors as its shares lingered below the offering price of $30. With pressure mounting to enhance financial performance, the company made strategic decisions to streamline operations and bolster its bottom line. Despite posting a 6% year-over-year increase in total revenue, amounting to $803 million in its latest quarter, and a 7% rise in gross transaction value to approximately $7.9 billion, Instacart's leadership recognized the imperative to demonstrate relentless commitment to growth and profitability. In a letter addressing the layoffs, CEO Fidji Simo emphasized the company's dedication to expanding its market leadership and accelerating online grocery adoption. Simo underscored the importance of positioning Instacart to pursue ambitious endeavors while optimizing operational efficiency. Furthermore, the reshuffling of Instacart's C-suite reflects a strategic shift towards prioritizing higher-margin business opportunities such as advertising and enterprise products. Notably, the elimination of the Chief Operating Officer (COO) role, held by Asha Sharma, signifies a notable departure from conventional corporate structures. Sharma, who joined Instacart three years ago after serving as Vice President of Product for Facebook, will be departing on March 1, as indicated in an SEC filing. Additionally, changes in key leadership roles include Varouj Chitilian, Instacart's Chief Technology Officer (CTO), and Chief Architect JJ Zhuang, both of whom have played pivotal roles in shaping the company's technological landscape. Chitilian, with over 12 years of experience at Google, assumed the CTO role in July 2022, succeeding Mark Schaaf. Similarly, Zhuang, who joined Instacart in 2018, has been instrumental in driving technology and engineering decisions. As Instacart navigates the complexities of the market, these strategic realignments underscore the company's commitment to driving sustainable growth and delivering long-term value to its shareholders. Stay in the loop! Subscribe to our newsletter, Boolanga Business Bites, powered by Wear Your Brand, to get more industry insights!

What are key considerations for companies regarding the timing of their IPOs and how can they best balance these considerations to meet their strategic objectives? Cooley LLP partner Jonie Kondracki dove in for the latest installment of #CooleyMarketTalks, during which the team was joined by Cooley client Instacart. Thanks to Team Instacart for joining us and sharing your insights. Watch the full conversation here: https://bit.ly/3RSlVKS #CooleyMarketTalks #capitalmarkets #IPOs #video