Instacart down to 6B, close to Lyft
What?! So embarrassing! Instacart was star unicorn, but now it is valued the same as Lyft, an almost bankrupt company. Instacart is profitable! The stock should be higher , at least half of 40B, which is the price those employees got invested at.
Did you buy Instacart stocks?
It’s because the pandemic is over and people can go to the supermarket again.
Supermarkets in cities are cramped with long lines. People are short on time and Instacart fills a need. Instacart is trying to make money from ads. If that succeeds and the price of delivery comes down to something close to the price of buying groceries yourself, then Instacart will dominate the grocery market for all city dwellers.
I live in a big city, and the supermarkets are fine. Also Safeway and Amazon have delivery services that are superior to Instacart IME.
Rippling laughing at Instacart? smh
Lyft is not “almost bankrupt” it has risen 30% in the last month. Instacart is unproven still.
Stock rise doesn’t mean much about their remaining cash on hand and ability to raise more. Lyft is not in a good spot.
Cash flow positive in 2024
The forward Price-to-Earnings (P/E) ratio for Instacart (Maplebear Inc., ticker symbol CART) is reported to be 93.46 according to Yahoo Finance as of December 6, 2023
Lol so they really should be closer to $1B valuation if they didn’t have a massively inflated multiple
Yeah the forward PE of the S&P 500 is 20 so Instacart is very overvalued compared to SPY
Personally never believed in instacart. The product does not make much sense. Whether it should be worth $1B or $10B depends on the profit generating appeal of the product.
Love their service. We use it every week. It's saves a lot of time.
Agree. The best thing to have happened yet in the world of grocery shopping
Lyft > Instacart
Lyft provides a required service. Instacart is somewhere between need and luxury. Instacart survives on high markups. Lyft and Uber have markups but customer doesn’t see it. Grocery markup are obvious. Walmart and Amazon will keep eating into this market. Others will want larger cut to keep customers out of stores. Thats what you see in the stock price.
This doesn't sound quite right. Instacart's problem is with growth (barely growing). The latest narrative is that newly acquired customers post COVID are increasing their spend but older customers from the COVID era are not spending as much causing the anemic growth.
Lyft is not near bankrupt. Check last quarter earnings. Lyft loss is mere $12MI with double the revenue of instacart. Whoever kept saying Lyft bankrupt has been telling it for several years now, much before from pandemic. If Lyft survived pandemic, it can survive any storm.
Does it make sense to join now (leave Google)? Close to an offer
Now that the company is public it may make sense to join if the offer is right. The stock isn't going anywhere though. We are a much smaller company and have opportunities for impact if that's what you are looking for.
I'd say yes, its PE is probably somewhere around 15 which is very low.