Reported about 9 hours ago
Instacart CEO Fidji Simo is working to reshape the grocery delivery service into a technology provider for supermarkets, although Wall Street remains skeptical, having seen the company's valuation drop significantly. After going public, Instacart's market value fell from $39 billion to just over $10 billion, as investors question its long-term potential. Despite recent mixed earnings reports, Simo is focusing on higher-margin enterprise solutions and believes that embracing technology will help traditional grocery stores thrive against giants like Amazon and Walmart.
Source: YAHOO