#Instakart @gopuff @DoorDash #Gopuff #Doordash
Instacart and GoPuff each announced new fundraisings this week , a sign that food-delivery services are arming themselves with plenty of cash for what looks to be a winter of intense competition.
Instacart and GoPuff each announced new fundraisings this week , a sign that food-delivery services are arming themselves with plenty of cash for what looks to be a winter of intense competition.
Instacart, which became the market leader during the pandemic, raised $200 million at a valuation of $17.7 billion. That’s a sizable increase from just four months ago, when Instacart raised $225 million at a valuation of $13.5 billion.
Meanwhile, GoPuff, the Philadelphia-based firm known for delivering convenience store items, raised $380 million at a $3.9 billion valuation.
It plans to expand the range of items it delivers to include grocery items, over-the-counter medicines and baby and pet products.
It plans to expand the range of items it delivers to include grocery items, over-the-counter medicines and baby and pet products.
Both face competition from DoorDash, which will raise more money when it goes public in the next couple of months. DoorDash, founded on restaurant meal deliveries, has expanded into grocery and convenience food items.
Similarly, Uber Eats is expanding into grocery store delivery. Meanwhile, some consolidation has happened: Uber is buying Postmates, for example. But with four players all jostling for a piece of the food delivery pie, more of a shakeout may be necessary
Credits @Jessicalessin
Credits @Jessicalessin
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