Instacart Revenue, Valuation & Stats 2023

Instacart offers a personalized shopping experience accessible via the web, Apple, and Android devices. It empowers users to browse, choose, and buy products from various stores.

Instacart’s revenue took a hit in 2019 due to the pandemic. As things slowly got back to normal, people started using services like Instacart to get groceries delivered.

In late 2022, lots of people, about 34 million were using Instacart. Then, in early 2023, it was a bit less, around 33 million. Even though the number went down a bit more in February, Instacart still had lots of active users. That’s because they’ve been doing cool promotions and focusing on making their customers happy.

Instacart’s founder started a bunch of other businesses before it, but Instacart really took off. The founder used his experience from working at Amazon to make Instacart. At first, people were worried that Amazon buying Whole Foods would hurt Instacart, but it actually made Instacart more popular.

But, just like with any big success, there were some problems. Instacart got into trouble for not paying workers enough and taking their tips. Workers even started a union and protested during the pandemic because they didn’t have enough protective gear.

Company Overview

  • Launch Date: Instacart was founded in the year 2012.
  • HQ (Headquarters): Instacart’s headquarters are located in San Francisco, California, USA.
  • People: Instacart employs various teams, including engineers, shoppers, and customer service representatives, to facilitate its operations and services.
  • Business Type: Instacart operates as an online grocery delivery and pickup service.
  • Industry: Instacart is positioned within the technology and e-commerce industry, specifically focusing on the online grocery and delivery sector.

Instacart Key Statistics

  • In 2022, almost 9.6 million folks enjoyed Instacart’s services, with 97% of them being from the United States.
  • About 55% of Instacart users are ladies, and 44% are guys.
  • Most Instacart fans, 26.6%, are between 26 and 34 years old.
  • People usually spend about 7 minutes and 23 seconds on the Instacart app.
  • Nearly everyone in the U.S., around 92%, uses phones to shop with Instacart.
  • One in every four online shoppers in the U.S. chooses Instacart.
  • Instacart proudly earned $2.5 billion in 2022.
  • Instacart has about 13.7 million daily active users.
  • There are around 600,000 shoppers helping out on Instacart.
  • Back in 2019, Instacart was losing $25 million every month due to pandemic

Instacart Revenue

How much is Instacart revenue

Instacart’s revenue grew significantly in recent years. The company made $1.5 billion in 2020, up 104% from the previous year.

In 2022, Instacart’s revenue reached $2.5 billion, a 39% increase over 2021.

How much is Instacart revenue?

YearRevenue (in mm)
2013$10
2014$75
2015$120
2016$185
2017$300
2018$525
2019$735
2020$1500
2021$1800
2022$2500

Instacart Profit

Is Instacart making a profit?

Instacart is not required to disclose profit since it is a private company. However, they did manage to record a profit of $50 million in 2020 which was quite a relief considering the $300 million loss in 2019.

Instacart annual revenue

YearProfit ($mm)
2019 – (300)
202050

Instacart users

Instacart annual users

Instacart is used by millions of customers across North America. Users can order groceries and household essentials through the Instacart app and website and have them delivered directly to their door.

How many people use Instacart?

Instacart has an active user base of 13.7 million users in 2022. It shows a 25% increase from the year 2021 i.e. 11.1 million users.

Instacart annual users

YearUsers ( in mm)
20173.3
20184.3
20195.5
20209.6
202111.1
202213.7

Instacart Users by Gender

Instacart Users by Gender

Approximately 54.9% of Instacart users are female, while 44.1% are male.

GenderPercentage
Female54.9%
Male44.1%

Instacart Users by Age

Instacart Users by Age

Instacart experiences its strongest user presence within the age bracket of 25 to 34, contributing a total of 26.60%.

Conversely, the age group least represented on the platform is individuals aged 65 and older, comprising 8.80% of users.

Age GroupPercentage
18 to 2415.70%
25 to 3426.60%
35 to 4420.20%
45 to 5415.60%
55 to 6412.90%
65+ Year8.80%

Instacart Marketing Channels

Instacart Marketing Channels

In terms of marketing channels for Instacart, the highest share of traffic comes from direct sources at 58.20%, while display channels contribute the lowest share at 0.90%.

Marketing ChannelsTraffic Share
Direct58.20%
Referrals2.07%
Search34.60%
Social1.50%
Mail2.40%
Display0.90%

Source: Similarweb

Instacart shoppers

Instacart shoppers:

Instacart relies on a network of personal shoppers to fulfill delivery orders placed by customers. These shoppers go to local stores, pick up the items and deliver them to the customers

Instacart started with 5,000 shoppers in 2014 and the number started to grow pretty quickly.

As of 2021, over 6,00,000 people work as “shoppers” for fulfilling Instacart orders.

Instacart shoppers:

YearShoppers
20145,000
201620,000
201870,000
2019130,000
2020500,000
2021600,000

Instacart Order Volume

Instacart Order Volume

Instacart, an online grocery service, handles a high number of orders in different time frames. In one second, it processes 9 orders, while in a minute, it’s 533 orders.

The order volume keeps growing: a month has 21,476,000 orders, and a year reaches a massive 257,712,000 orders.

This shows how many people use Instacart to shop for groceries online.

TimeOrder Volume
One Second9 Orders
One Minute533 Orders
One Hour31,958 Orders
One Day767,000 Orders
One Week5,369,000 Orders
One Month21,476,000 Orders
One Year257,712,000 Orders

Instacart partners

Instacart partners

Instacart partners with prominent grocery retailers like Costco, Kroger, Safeway, Albertsons, Publix, and Whole Foods, offering customers the convenience of online grocery shopping and delivery services.

Instacart has partnered with 1,100+ retail companies in 2022, a 45% increase from the previous year.

This number kept growing in the year 2023 when the company managed to partner with 1200+ retail companies with 80,000 stores across North America.

Instacart partners

YearTotal Partners
2017165
2018210
2019300
2020600
2021750
20221,100
20231,200+

Source: Linkedin, Forbes

Instacart Company Valuation

Instacart valuation

Instacart’s valuation journey has been remarkable, surging from $2 billion in 2016 to $39 billion in 2021.

Notably, 2020 saw a substantial leap to $13.7 billion due to heightened pandemic demand.

However, by 2022, the valuation was adjusted to $24 billion, showcasing the company’s evolving market dynamics.

Instacart valuation

YearValuation ( in bn)
2016$2
2017$3.4
2018$7.6
2020$13.7
2021$39
2022$24

Source: TechCrunch

Instacart cities

Instacart cities available

Instacart’s journey has seen remarkable growth in terms of the cities it serves. Starting in 2016 with just 25 cities, the platform quickly expanded its reach.

By 2018, it was available in a whopping 4,000 cities, providing a convenient way for people to shop for groceries online.

The year 2022 witnessed an even greater expansion, reaching 14,000 cities in the US and Canada.

Instacart cities available

YearCities available
201625
20184,000
20205,500
202214,000

FAQ

Q1. How many Monthly Active Users Does Instacart have?

Ans: Instacart has around 288 million monthly active users in the United States and Canada combined.

Q2. What is the average time spent by users on Instacart?

Ans: Users typically spend an average of 7 minutes and 23 seconds on the Instacart app.

Q3. How much does Instacart cost?

Ans: Instacart applies various fees:

  1. Delivery Fee: The delivery fees with Instacart commence at $3.99 for same-day orders valued at $35 or higher. Charges differ for orders below $35 and for expedited 1-hour deliveries.
  2. Heavy Fee: Instacart imposes a fee for heavier orders, those surpassing a total weight of 50 pounds. The precise amount of this fee is unspecified by the company.
  3. Service Fee: To account for operational expenses, Instacart applies a service fee. The magnitude of this fee varies based on location and the inclusion of alcohol in the order.
  4. Long-Distance Service Fee: For customers placing orders from retailers situated 30–60 miles away from their location, Instacart introduces an extra long-distance service fee.
  5. Priority Fee: Opting for priority service, starting at $2, allows customers to receive their orders within 60 minutes.

Q4. What is the valuation of Instacart?

Ans: Instacart is valued at $24 million as of 2022.

Q5. How much is Instacart membership?

Ans: Instacart offers different membership plans:

  • Express Membership is $9.99 per month or $99 per year. This offers free delivery on orders over $35.
  • Instacart+ is $99 per year. This includes free delivery on orders over $35, reduced service fees, and other benefits.

Q6. How much do Instacart shoppers or drivers make?

Ans: Instacart shoppers can make around $10 – $15 per hour on average. The rates might vary depending on the city.

Stefan Larson
Stefan Larson

Stefan Larson is an experienced data journalist who brings numbers to life through compelling stories and visualizations. He holds a Master's degree in Statistics and previously worked as a data analyst, helping make sense of complex datasets for reporters and readers. When he's not digging into data and uncovering insights, you can find Stefan taking long walks with his beloved dog Rosie.