Grocery delivery app Instacart, which was expected to go public early in 2021 through an initial public offering (IPO), is now mulling alternative options, including a direct listing, according to a Reuters report.
Reuters said bankers that have worked Instacart’s potential listing believe it could be worth at least $50 billion. On Tuesday, Instacart announced the closing of a $265 million venture capital fundraise that valued the company at $39 billion. The round involved existing investors...
As Amazon continues to dominate e-commerce, major retailers are stepping up their investments hoping to benefit from shifting consumer demands. E-commerce sales topped $790 billion in 2020, according to IBM’s U.S. Retail Index, and with them expected to continue to grow, more retailers are shifting more of their resources to hold onto the customers they gained in 2020, and hopefully land a few more.
Walmart (NYSE: WMT), Target (NYSE: TGT), Best Buy (NYSE: BBY) and Disney (NYSE: DIS) – already...
If you are a commercial drone operator – or hope to be one – the best state for you is probably North Dakota. You definitely don’t want to set up operations in Kentucky.
Those two states ranked first and last, respectively, on a new report from the Mercatus Center at George Mason University. The report, “Which States are Prepared for the Drone Industry? A 50-State Report Card, Release 2.0,” was written by Brent Skorup and Connor Haaland. The research is an attempt to identify which states are...
https://www.freightwaves.com/news/the-best-states-for-drone-delivery
Instacart has announced a $265 million venture fundraising round, putting the total value of the company at $39 billion — more than double what it was just six months ago.
The round involved existing investors Andreessen Horowitz, Sequoia Capital, D1 Capital Partners, Fidelity Management & Research Co. LLC, and T. Rowe Price Associates Inc.
“Today’s fundraising reflects the strength of Instacart’s business, the growth our teams have delivered, as well as the incredible opportunity ahead. This...
https://www.freightwaves.com/news/instacarts-insane-valuation
Fillogic, which describes itself as a Logistics-as-a-Service platform for retailers, has closed a $2.5 million seed round funding, led by James McCann, chairman and CEO of Food Retail Ventures. McCann will join Fillogic’s board.
The round brings to $3.5 million the company’s total funding to date. Additional investors include Jamestown LP, GroundBreak Ventures, Revelry Ventures Partners, XRC Labs and Green Egg Ventures.
“We started Fillogic to transform the traditional retail ecosystem into an...
https://s29755.pcdn.co/news/fillogic-secures-2-5m-seed-funding-to-expand-mall-distribution-hubs
Instacart has announced a $265 million fundraising round, putting the total value of the company at $39 billion – more than double what it was just six months ago.
The round involved existing investors Andreessen Horowitz, Sequoia Capital, D1 Capital Partners, Fidelity Management & Research Company LLC, and T. Rowe Price Associates Inc.
“Today’s fundraising reflects the strength of Instacart’s business, the growth our teams have delivered, as well as the incredible opportunity ahead. This past...
https://www.freightwaves.com/news/breaking:-instacart-raises-$265m-putting-valuation-at-$39b
After first indicating in January it planned to spin off Postmates X, the robotics division of on-demand food delivery firm Postmates, Uber Technologies (NYSE: UBER) has made it official, according to published reports.
Bloomberg first reported that Uber would co-lead a $50 million investment in the new company, Serve Robotics, which will be based in San Francisco. Venture firm Neo will also be involved, the publication reported.
Serve Robotics is part of Postmates, which Uber acquired last year...
https://www.freightwaves.com/news/uber-spinning-off-robotic-delivery-division
Vitabox, a seller of everyday products including vitamins, bath gels and skin products, saw a 25% increase in sales once it was able to sell its 8,500-plus items on Walmart.com (NYSE: WMT). That opportunity came about because it uses e-commerce platform BigCommerce, which is now integrated with Walmart’s Marketplace.
“Vitabox believes in making everyday essentials available to everyone, regardless of how or where they choose to shop. With BigCommerce, we were able to offer our entire product...
https://s29755.pcdn.co/news/bigcommerce-merchants-can-now-sell-on-walmart-com
International express carrier DHL Express said Wednesday that it has opened a drive-up, mobile pop-up retail store in Woodbridge, Virginia’s Potomac Mills shopping center. The drive-up facility, believed to be the first of its kind in the U.S., will allow customers to complete their transactions without leaving their vehicles, the DHL unit said.
The new facility, about 22 miles south of Washington, D.C., on Interstate 95, can be used to create shipments at the site, drop off already-prepared...
https://s29755.pcdn.co/news/dhl-express-opens-drive-up-pop-up-store-in-virginia
Best Buy (NYSE: BBY) will trial smaller retail sales floors in a few markets as it looks to maximize space for e-commerce order fulfillment, Bloomberg reported Wednesday morning. Best Buy first announced the move during its November 2020 earnings call.
According to the latest report, store shopping space will shrink from 27,000 square feet to approximately 15,000 square feet in the locations, with the remainder used for preparing online orders for either in-store pickup or delivery.
The news...