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Maplebear Inc. - CART STOCK NEWS

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Maplebear Inc., doing business as Instacart (NASDAQ: CART), is a leading American grocery delivery and pick-up service headquartered in San Francisco. Instacart operates extensively across the United States and Canada, providing customers with a convenient way to shop for groceries online through its website and mobile app.

Instacart has revolutionized the grocery shopping experience by partnering with over 1,500 national, regional, and local retail banners to offer products from more than 85,000 stores across North America. The platform boasts nearly 8 million monthly active users, who benefit from Instacart's extensive network of approximately 600,000 independent contractors, known as shoppers, who pick and deliver orders directly to customer doorsteps.

Instacart's revenue model is diverse, encompassing service fees from orders, a robust advertising business, and premium memberships like Instacart+. The company has also significantly expanded its services to include SNAP (Supplemental Nutrition Assistance Program) benefits, making groceries accessible to more families across 14,000 stores and reaching 96% of SNAP households in the U.S.

Recently, Instacart has announced several strategic initiatives and partnerships. These include retail expansions with major grocery chains like Food City, Gordon Food Service, and Hy-Vee, as well as a public-private partnership with the U.S. Department of Health and Human Services to support food as medicine programs aimed at improving health outcomes through better nutrition.

Instacart continues to innovate with technologies like Caper Carts, AI-powered smart carts that streamline the shopping and checkout process, and Carrot Ads, which empower smaller retailers to grow their retail media networks. Furthermore, the company’s financial results for Q1 2024 have been promising, showcasing its ongoing growth and market leadership.

With its comprehensive suite of enterprise-grade technology products, including e-commerce solutions, advertising services, and health initiatives, Instacart remains at the forefront of transforming the grocery shopping experience. For more details, visit Instacart’s official website.

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Instacart (NASDAQ: CART) has launched the first-ever SNAP eligibility screener on an online grocery platform, powered by Advocatia Solutions. The tool allows users to anonymously check SNAP benefit eligibility in under 60 seconds and access state enrollment resources. Instacart currently connects over 98% of households with online SNAP-accepting retailers, including 95% of food desert areas, through nearly 180 retail banners and 30,000+ stores nationwide.

The initiative aims to address food insecurity affecting more than one in eight Americans. Eligible SNAP households can receive approximately $350 monthly in food assistance. The company offers SNAP recipients a 50% discounted Instacart+ membership with $0 delivery fees on orders over $35, and has helped customers save over $1.1 billion through deals and discounts in the past year.

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Instacart (NASDAQ: CART) has announced the deployment of its AI-powered Caper Carts across all seven Geissler's Supermarkets locations in Connecticut and Massachusetts. Geissler's becomes the first grocer to replace most traditional shopping carts with these smart carts. The Caper Carts feature interactive screens that track spending, provide access to deals, sync with Geissler's LEF loyalty program, and offer automatic discounts based on basket value. The technology aims to enhance shopping experience, boost sales, increase promotion visibility, and create new ad revenue streams through digital displays.

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Instacart (NASDAQ: CART) announced its financial results for the third quarter ended September 30, 2024. The company has made the detailed financial results available in their Q3 2024 Shareholder Letter on their Investor Relations website. Management will discuss the results in a conference call scheduled for 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time), with a replay to be made available afterward on the company's Investor Relations website.

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Instacart (NASDAQ: CART) and Coles Supermarkets (ASX: COL) announced the deployment of AI-powered Caper Carts in Melbourne, Australia starting early 2025. This marks Instacart's first retail partnership bringing smart trolleys to the APAC region. The carts feature AI, cameras, and built-in scales to automatically recognize items, enabling customers to bag while shopping and track their running total. The system will integrate with Coles' Flybuys rewards program, offering personalized deals and gamified discounts. In the US, Caper Carts have achieved a net promoter score exceeding 70 at established locations.

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Instacart (NASDAQ: CART), a leading grocery technology company, announced that several local and independent grocers, including Bowman's Market, Maurer's Market IGA, Neiman's Family Market, Queen's Price Chopper, and Soelberg's Market, are adopting Caper Carts. These AI-powered smart carts are designed to enhance the in-store shopping experience. Customers in stores across Idaho, Kansas, Michigan, Missouri, Montana, Oregon, Utah, and Washington will benefit from personalized shopping experiences using Caper Carts, which are equipped with cameras, sensors, and a built-in scale to recognize items as they are placed in the cart. The carts feature an interactive screen that tracks spending, provides deals, and offers product recommendations. Integrated with loyalty programs, they offer personalized promotions and rewards, allowing customers to checkout directly from the cart. Instacart's Connected Stores suite, which includes Storefront, Carrot Ads, and Eversight, aims to bridge online and in-store shopping experiences.

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Instacart (NASDAQ: CART) announced that new grocers including ALDI, Gelson's, and Hornbacher's are adopting Carrot Tags, a software solution that integrates with electronic shelf labels (ESL) hardware. The technology enables pick to light functionality, helping e-commerce shoppers locate ordered items more efficiently and improve order accuracy. One retailer reported improved found rates and increased efficiency after implementation. The company plans to extend this feature to consumers through In-Store Mode on the Instacart App and Storefront Pro, as well as integrate it with Caper Carts.

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Instacart (NASDAQ: CART) announces that major grocers including Sprouts, Harmons, The Save Mart Companies, and Rosauers are upgrading to Instacart Storefront Pro, joining over 600 retail banners using their e-commerce solutions. The platform offers premium features including customizable storefront design, AI-powered recommendations, native inspirational tools, and access to Carrot Ads platform for retail media networks. Storefront Pro provides end-to-end control from discovery through weekly ad integration, personalized recommendations, seamless checkout with loyalty programs, and fulfillment services.

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Instacart (NASDAQ: CART) and Party City have announced a new partnership enabling customers to shop from over 700 Party City stores nationwide through Instacart's platform for same-day delivery in as fast as an hour. The collaboration expands Instacart's party supply selection, offering decorations, seasonal tableware, balloons, party favors, and costumes. To celebrate the launch, customers can get $10 off their first Party City purchase of $50 or more using code PARTYTIME24 through December 26.

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Instacart (NASDAQ: CART) and Foodsmart have released a white paper detailing the results of their two-year partnership, which has shown significant health improvements for members with obesity and diabetes. The program combines Foodsmart's telenutrition services with Instacart's medically-tailored grocery delivery, reaching over 98% of U.S. households.

Key findings from the study of 18,500+ members include:

  • 52.9% of diabetic members saw a 0.5% reduction in HbA1c
  • 47.1% of obese members achieved 5%+ weight loss after 21 months
  • 8.6% improvement in nutrition scores for participants using both services
  • Nearly doubled program engagement compared to telenutrition alone

The partnership aims to address poor nutrition, which is a leading driver of healthcare costs and chronic diseases in the U.S. The program provides a scalable solution for health plan members, offering education, support, and access to healthy foods.

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Instacart (NASDAQ: CART) has announced it will report its third quarter 2024 financial results after market close on Tuesday, November 12, 2024. The company's Q3 2024 Shareholder Letter will be available on Instacart's Investor Relations website. Management will host a conference call to discuss the results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day.

A live webcast of the conference call will be accessible on the Investor Relations website, with a replay available after the call concludes. Instacart uses its Investor Relations website to disclose material nonpublic information and comply with Regulation FD disclosure obligations. Investors are advised to monitor this website, along with press releases, SEC filings, public conference calls, webcasts, and Instacart's blog for important updates.

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FAQ

What is the current stock price of Maplebear (CART)?

The current stock price of Maplebear (CART) is $43.67 as of November 29, 2024.

What is the market cap of Maplebear (CART)?

The market cap of Maplebear (CART) is approximately 11.1B.

What is Instacart?

Instacart is a leading grocery delivery and pick-up service operating in the U.S. and Canada, allowing customers to shop for groceries online.

How does Instacart make money?

Instacart generates revenue through service fees, advertising, and premium memberships like Instacart+.

Who are Instacart's partners?

Instacart partners with over 1,500 national, regional, and local retail banners, including major grocery chains like Kroger, Food City, and Hy-Vee.

What is the Instacart+ membership?

Instacart+ offers benefits such as free delivery on orders over $35, 5% credit back on pickup orders, and reduced service fees for SNAP participants.

How does Instacart support SNAP benefits?

Instacart allows customers to use SNAP benefits for grocery shopping online, spanning over 14,000 stores and reaching 96% of SNAP households in the U.S.

What is Instacart Health?

Instacart Health provides tools to increase nutrition security and make healthier food choices easier for consumers to improve health outcomes.

What technology does Instacart use for grocery shopping?

Instacart employs technologies like Caper Carts, AI-powered smart carts, and Carrot Ads to enhance the shopping experience both online and in-store.

How many shoppers work for Instacart?

Instacart has approximately 600,000 shoppers who are classified as independent contractors.

How can I start shopping with Instacart?

You can start shopping by visiting Instacart’s website or downloading the mobile app, entering your location, selecting your store, and placing your order.

Where can I find Instacart's financial results?

Instacart’s financial results are available on their Investor Relations website at https://investors.instacart.com/.

Maplebear Inc.

Nasdaq:CART

CART Rankings

CART Stock Data

11.09B
221.88M
12.33%
70.86%
4.2%
Internet Retail
Services-business Services, Nec
Link
United States of America
SAN FRANCISCO