Hello blinders, Was excited to join instacart soon but the recent news where the talks fell with doordash and uber is making me little uncomfortable to join. Does company doesn't believe in itself? Also some contracts with big retailer are getting expired soon. I am really worried about instacart's future. Any insights from fellow intacartian would really help. Thanks. Yoe: 4 Tc:165k
What is why Instacart changed to a clawback rsu policy this year. You have to sink with Instacart and have no chance to jump the ship.
Clawback is so curios. Apparently it was because they had a lot of churn so they wanted to keep employees for good (and you can see the churn with people quitting within 5 months)
Clawback is for 2021 employees. We had very little churn in 2020.
I’m interviewing there now - could you provide a link about this? Haven’t heard about it.
Never mind - found it: https://m.economictimes.com/tech/startups/doordash-is-said-to-have-held-talks-to-buy-instacart-for-40-50-billion/amp_articleshow/85261454.cms
This acquisition always looked so out of line. Doordash and Instacart are not too far different in size.
It makes me wondering what were the signs before Uber laid off a bunch of people, all of a sudden? I don't believe any other companies can be like Airbnb who gave its employees 3 months to find another job while keep paying them
You cannot make a direct comparison with Uber. Uber had different issues than ic. Uber was losing shit tons of money. Ic isn't doing that. IC is dependent on partners it also competes with. Thats a different kind of issue. I worked in Google Express for half a decade, it had a similar model. It's always some bs happening daily with one or the other partner threatening something or the other. Not a recipe for a stable public company. Imagine Netflix not having original content and depending on Disney for content while at the same time Disney developing Disney+. Whether you are making money out not is not relevant.
Well said @Google. As for Uber, there was hiring freeze, backfill pause and then lay-off
What we know, you probably know. What you don’t know but we do know, we really can’t tell you. This is a case where you need to do your own information gathering and decide by yourself. Sorry, man.
If only we had an app to post such information anonymously. Oh wait... Not asking insider information but some kind of assurance. Replies from instacartian is not helping. Can you tell me at least if things are OK there? Should new comers join or no?
I can tell you no one is jumping ship. I can tell you that the metrics people have been defending hasn’t changed. Are people annoyed? Of course. This is a big thing that we got no clarity on yet, ofc people are mad. But is it concerning enough to quit or not join an accepted offer? Most of current IC doesn’t think so but you have to decide that on your own.
I think you can start analyzing the situation yourself by looking for rational motivation of InstaCart stakeholders that is behind 2021 RSU policy change. Why bother making this shitty move if they plan to IPO soon?
Agreed. Doesn’t seem like any exit was ever “in the horizon” whatsoever. Employees became 🤡
Copying from another thread given that this thread as a specific question about why: "Another thing I saw in an old post on blind + some of my own research when considering moving there. It appears that this clawback clause was added in anticipation for the IPO. The IRS doesn't tax RSUs if they have a substantial risk of forfeiture (of you loosing them). According to rumors, they were going to IPO this year, so the explanation seems to be that once you see an IPO on the horizon then your RSUs without this clause might not pass the IRS definition of substantial risk of forfeiture. I am sure this is a gray area and that accountants and lawyers don't necessarily know exactly whether this type of clawback clause is necessary in order to avoid taxes before IPO, so IC is probably going with the most conservative approach here for new grants (they can't really change old grands as I understand). Don't get it wrong, it is still risky. If they delay ipo for years instead of doing it this year you may be locked in with them. But the above seemed like a good explanation for the origin of this clause. I wonder if similar companies had these for new grants (e.g. Doordash, Uber, ...?)"
Is there more information on contracts with big retailers expiring soon? How soon?
Read information..
I'm still bullish on the company. The Uber stuff is not a surprise to anyone in these companies, so I'm not sure why it's getting thrown into the DD stuff in the article. DD is interesting, but not bad. It's not like the talks were about giving the company away for cheap or something.
Yeah, keep grinding at that shit charging high markups.
Man you're bitter.
This is an inherently bad business model. Read up on it.
Then why is everyone jumping into it?
Engineers are terrible at understanding business models. They did the same with many past failures.
5 hours ago, Forbes headline reads "Walmart Teams With Instacart in War With Amazon."
Yes. Pretty exciting
🥕 🚀
We know as much as you do
Right but was hoping there would be some email or note within the company from the leadership assuring things or dismissing some stuff ?
"Can haz inside information plz?" 🙄