Instacart, officially known as Maplebear Inc., operates as an online grocery platform that connects customers with retailers, brands, and shoppers. The company facilitates grocery delivery and pickup services, allowing customers to order groceries and other products through its platform. Instacart also offers advertising opportunities for brands to enhance product visibility and drive sales.
- Transaction Revenue - Generates income by facilitating grocery delivery and pickup services, connecting customers with personal shoppers who fulfill orders from local retailers.
- Advertising and Other Revenue - Provides advertising opportunities for brands on the platform, enhancing product visibility and driving sales.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Fidji Simo ExecutiveBoard | CEO, President, Chair of the Board | Board Member at Shopify Inc. and OpenAI, L.L.C. | Fidji Simo has been CEO since August 2021, President since December 2021, and Chair of the Board since September 2023. Previously, she was Head of the Facebook App at Meta Platforms, Inc.. | View Report → |
Emily Reuter Executive | CFO | None | Emily Reuter became CFO on May 7, 2024. She previously held leadership roles at Uber, including VP, Head of Corporate Finance, and CFO of Mobility. | |
Morgan Fong Executive | General Counsel and Secretary | None | Morgan Fong joined CART as Director of Legal in May 2015 and became General Counsel in December 2016. He has also served as Secretary since December 2020. | |
Nick Giovanni Executive | CFO and Treasurer | None | Nick Giovanni joined CART as CFO and Treasurer in January 2021. Previously, he was Global Head of the Technology, Media, and Telecom Group at Goldman Sachs. | |
Daniel Sundheim Board | Board Member | Founder and CIO of D1 Capital Partners L.P. | Daniel Sundheim has been a CART Board Member since June 2020. He is the Founder and CIO of D1 Capital Partners and previously worked at Viking Global Investors. | |
Frank Slootman Board | Board Member | None | Frank Slootman has been a CART Board Member since January 2021. He was previously CEO and Chairman of Snowflake Inc. and held leadership roles at ServiceNow and Data Domain. | |
Lily Sarafan Board | Lead Independent Director | Executive Chair of TheKey LLC | Lily Sarafan joined CART's Board in October 2021 and became Lead Independent Director in October 2022. She is also the Executive Chair of TheKey LLC. | |
Meredith Kopit Levien Board | Board Member | President and CEO of The New York Times Company | Meredith Kopit Levien joined CART's Board in October 2021. She is also the President and CEO of The New York Times Company. | |
Michael Moritz Board | Board Member | Senior Advisor at Sequoia Heritage; Board Member at Klarna, TrialSpark, and PhenomeX | Michael Moritz has been a CART Board Member since June 2013. He is a Senior Advisor at Sequoia Heritage and serves on multiple boards. | |
Ravi Gupta Board | Board Member | Managing Member of Sequoia Capital | Ravi Gupta joined CART's Board in August 2023. He was previously CFO and COO at CART and is now a Managing Member at Sequoia Capital. | |
Victoria Dolan Board | Board Member | Board Member at Stericycle, Inc. | Victoria Dolan joined CART's Board in April 2024. She was previously CFO at Revlon and held leadership roles at Colgate-Palmolive and Marriott International. |
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Your Q4 GTV guidance indicates growth of 8% to 10%, down from 11% in Q3. Can you explain the factors driving this deceleration, and should we expect this trend to continue into 2025?
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Despite strong profitability, your adjusted EBITDA margins are expected to remain flattish sequentially in Q4. What are the main constraints on margin expansion, and how do you plan to drive operating leverage moving forward?
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With certain large CPGs pulling back on ad spend while emerging brands lean in , how significant is the impact of these pullbacks on your advertising revenue, and what strategies are you employing to mitigate this risk?
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As you expand into restaurant delivery, how do you plan to differentiate your offering from established competitors, and what early indicators can you share about its contribution to GTV and user engagement ?
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Considering that 87% of the grocery market is still offline and your investment in technologies like Caper Carts , what are the key challenges in scaling these in-store solutions, and how do you plan to overcome them to capture more of the offline market?
Research analysts who have asked questions during Maplebear Inc earnings calls.
Eric Sheridan
Goldman Sachs
4 questions for CART
Jason Helfstein
Oppenheimer & Co. Inc.
4 questions for CART
Nikhil Devnani
Bernstein
4 questions for CART
Shweta Khajuria
Wolfe Research, LLC
4 questions for CART
Andrew Boone
JMP Securities LLC
3 questions for CART
Colin Sebastian
Baird
3 questions for CART
Douglas Anmuth
JPMorgan Chase & Co.
3 questions for CART
Ross Sandler
Barclays
3 questions for CART
Brian Nowak
Morgan Stanley
2 questions for CART
Deepak Mathivanan
Cantor Fitzgerald
2 questions for CART
Justin Post
Bank of America Corporation
2 questions for CART
Lee Horowitz
Deutsche Bank
2 questions for CART
Michael Morton
MoffettNathanson
2 questions for CART
Miles Jakubiak
KeyBanc Capital Markets Inc.
2 questions for CART
Ronald Josey
Citigroup Inc.
2 questions for CART
Steven Fox
Fox Advisors LLC
2 questions for CART
Bernard McTernan
Needham & Company, LLC
1 question for CART
James Lee
Mizuho Securities
1 question for CART
Justin Patterson
KeyBanc Capital Markets
1 question for CART
Mark Zgutowicz
The Benchmark Company
1 question for CART
Ross Compton
Macquarie Group Limited
1 question for CART
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Rosie Applications Inc. | 2022 | Maplebear Inc. acquired 100% ownership interest in Rosie Applications Inc. for up to approximately $60 million on September 2, 2022, with a mix of cash and 223,313 shares of non-voting common stock, targeting the U.S. local and independent grocers market. |
Eversight, Inc. | 2022 | Maplebear Inc. acquired 100% ownership interest in Eversight, a pricing and promotions platform leveraging AI for the grocery industry, for approximately $60 million in cash, aimed at optimizing pricing and promotions for brands and customers. |
Recent press releases and 8-K filings for CART.
- Maplebear Inc. (Instacart) and DoorDash are under pressure, with Instacart's stock falling 15% since yesterday, attributed to Amazon's enhanced grocery delivery service.
- Amazon's new same-day delivery service is viewed as a "Trojan horse" to significantly grow its grocery and household essentials business, which already generated approximately $100 billion last year.
- This strategy leverages Amazon's 100 million Prime customers by facilitating cross-selling of groceries during existing same-day deliveries, offering a competitive advantage with no excess delivery fees or tipping, unlike Instacart.
- Amazon's household essential categories are growing 2x faster than the rest of its business, indicating a strong competitive threat to existing players like Instacart.
- Ibotta reported total revenue of $86.0 million for the second quarter ended June 30, 2025, representing a 2% year-over-year decline, with net income of $2.5 million and Adjusted EBITDA of $17.9 million.
- The Ibotta Performance Network (IPN) experienced a 27% year-over-year growth in redeemers, reaching 17.3 million in Q2 2025.
- During the quarter, Ibotta repurchased 1.4 million shares for a total of $67.5 million.
- The company announced Matt Puckett as its new CFO.
- For the third quarter of 2025, Ibotta provided guidance of revenue between $79.0 million and $85.0 million and Adjusted EBITDA between $9.5 million and $13.5 million.
- Instacart reported strong Q2 2025 financial results, with GTV growing 11% year over year, orders increasing 17%, and transaction revenue up 11%. Advertising and other revenue also grew 12% year over year.
- Profitability remained strong, with GAAP net income at $116 million (up 92% year over year) and adjusted EBITDA at $262 million (up 26% year over year). The company also bought back $111 million worth of shares in Q2 and authorized a $250 million increase to its buyback program.
- The current CEO, Fiji, is stepping down, and Chris Rogers will assume the role of CEO.
- For Q3 2025, Instacart anticipates GTV to range between $9 billion and $9.15 billion, representing 8% to 10% year over year growth, and adjusted EBITDA is guided to be between $260 million and $270 million.
- The company continues to drive user growth and order frequency, with improved customer retention and deepening engagement among Instacart Plus members, supported by ongoing investments in AI and enterprise solutions.
- CEO Resignation: Fidji Simo will resign as CEO and President effective August 15, 2025, while continuing as Chair of the Board.
- New CEO Appointment: Chris Rogers has been named CEO and President, effective August 15, 2025, with significant compensation and equity awards detailed in his offer letter.
- Board Expansion: The Board is increasing its size from 8 to 9 directors concurrent with the new CEO appointment.
- Share Repurchase Program: The Board approved an increase of the share buyback authorization to $1 billion.
- CEO Departure: CEO Fidji Simo plans to step down while remaining as Chair of the Board, with a new CEO announcement expected soon.
- Guidance Update: The company reaffirmed its financial outlook for Q2 2025 and FY 2025 as stated on its earnings call.
- Instacart (Maplebear Inc.) announced its acquisition of Wynshop, strengthening retailer relationships and expanding enterprise solutions .
- The acquisition will integrate Wynshop’s e-commerce capabilities with Instacart’s flagship products such as Storefront Pro and Carrot Ads .
- In Q1 2025, Maplebear Inc. emphasized high order quality to enhance the online grocery customer experience .
- The company is advancing innovative tools including Store View, an AI-driven inventory intelligence solution analyzing real-time video footage .
- Note: No earnings call transcript information is available for Q1 2025 [N/A].