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"I hadn't even appealed because I didn't even know what it was for," Via told Insider. AdvertisementAdvertisementIn arbitration, Instacart unsuccessfully tried to argue that it could disregard the agreement that it asks shoppers to signVia filed a request for arbitration in January 2022. David L. Ryan/The Boston Globe via Getty ImagesOnce a shopper requests arbitration proceedings, they must wait 30 days "to resolve the dispute before arbitration commences," Instacart told Insider. But the arbitrator said Via wasn't aware of the extra item until the following day when Instacart deactivated his account. "I can read it and figure out what makes sense and what I can argue and what doesn't make sense," he told Insider.
Persons: Jason Via, I've, that's, Instacart, Via, Aureen Chowdhury, Annie T, David L, Ryan, you've, Uber Organizations: Service, Walmart, Via, Shoppers, Boston Globe, Getty, Instacart, ICA Locations: Wall, Silicon, Instacart, Los Angeles, Washington
Checkers & Rally'sLast year, Checkers & Rally's became one of the first big chains to implement widespread use of AI-powered voice assistants. Out of the 803 Checkers and Rally's restaurants, voice AI was live in 390 as of August. AdvertisementAdvertisementSoundHound, best known as a music-recognition app, has spent years perfecting its conversational voice AI bots. Sister burger chains Carl's Jr. and Hardee's also announced plans to test Presto's AI voice bots this year. Hardee's and Carl's Jr. are also testing voice AI bots by OpenCity.
Persons: DoorDash, Deloitte, Keyvan Mohajer, it's, Mohajer, Schier, Rally's, Domino's, ConverseNow, SoundHound, SoundHound's Mohajer, Beef, Chippy, Rebecca Harrington, McDonald's, Carl's Jr, Del, Carl's, Hardee's, Presto, Taco, Chris Turner, Turner, Taco Bell Organizations: Service, Chipotle, Industry, National Restaurant Association, Deloitte, Wingstop Tech, Anthony's, Slim, Dialog, Taco Bell, Taco, Yum Brands Locations: White, Wall, Silicon, McDonald's, Texas, California , Texas, Florida, Chicago, Thai, Newport Beach , California, Del Taco, Mexican, Southern California, Taco Bell's
With retail investors holding individual stocks for less than a year on average, recent history suggests they could lose money, a Reuters analysis shows. Even institutional investors invited to buy into those 10 IPOs before trading would be down an average of 18%. "For almost all retail investors, buying and holding a low-cost index fund is the best strategy." Arm's debut and an upcoming listing from grocery delivery service Instacart are expected to rejuvenate a lackluster IPO market which has slowed over the past two years due to volatility and economic uncertainty. Instacart will be offering some retail investors a chance to buy into its IPO via underwriter fintech company SoFi, its prospectus said.
Persons: Dado Ruvic, Japan's SoftBank Group's, Jay Ritter, Marco Iachini, it's, Ritter, Lance Tupper, Anirban Sen, Echo Wang, Michelle Price, Richard Chang Organizations: REUTERS, Retail, Holdings, Reuters, U.S, Investors, University of Florida, Nvidia, GameStop, Vanda Research, Instacart, IPOs, Thomson Locations: British, New York
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInstacart slashes its previous IPO valuation, and Jefferies upgrades DoorDashJefferies' John Colantuoni and CNBC's Deirdre Bosa join 'The Exchange' to discuss Instacart slashing its IPO valuation, competition in the home grocery delivery space, and the rationale behind Jefferies' DoorDash upgrade.
Persons: DoorDash Jefferies, John Colantuoni, Deirdre Bosa, Jefferies Organizations: Jefferies
The grocery delivery company Instacart is aiming to go public at a valuation between $8.6 billion and $9.3 billion, according to reports. Instacart is expected to officially disclose its expected valuation range on Monday, a person familiar with the matter told Reuters. As public stocks dipped around March of last year, Instacart cut its valuation from $39 billion to $24 billion. According to the company, Instacart shoppers and drivers deliver goods in over 14,000 cities from more than 80,000 grocers and other stores. The grocery delivery service will join other gig economy companies like Uber , Airbnb , Lyft and DoorDash on the public market.
Persons: Instacart, haven't, Japan's SoftBank, Uber, Goldman Sachs, CNBC's Hayden Field Organizations: Reuters, Nasdaq Locations: Instacart
Now she has turned her gaze away from the streets and characters of her beloved New York City and toward her own sleeping mind. I don’t know, I don’t know, I don’t know. Artwork from Chast’s book “Can’t We Talk About Something More Pleasant?” From Roz Chast and BloomsburyYou’re talking about death? The cover art for Roz Chast’s “I Must Be Dreaming.” From Roz Chast and BloomsburyWill my own lingering sense that somehow moving to the suburbs represents a personal failing ever go away? Now I know I have picked up that horrible disease that you can get from mosquitoes.”I know you’re a bit of a hypochondriac.
Persons: Roz Chast, , , Chast, Woo, ” Roz Chast, “ Roz, Roz Chast’s “, , Peter Garritano, I’ve, you’re, David Marchese, Alok Vaid, Menon, ordinariness, Joyce Carol Oates, Robert Downey Jr Organizations: City, Yorker, New, Bloomsbury, School of, Visual Arts, The New York Times, Marvel Locations: New York City, New York, York
At a McDonald's in Orange, California, Insider found that a Quarter Pounder with Cheese meal cost $10.19. DoorDash said it encourages restaurants to "maintain delivery menu prices that more closely reflect in-store menu prices." "There is a premium associated with the delivery channel," Chipotle told Insider, adding that its delivery prices are about 30% above in-store and order-ahead menu prices. ChipotleInsider food correspondent Nancy Luna found delivery prices about 30% higher at Chipotle compared to in-store prices. "This is one reason – among many – why DoorDash encourages restaurant partners to maintain delivery menu prices that more closely reflect in-store menu prices."
Persons: DoorDash, Chipotle, Uber, Nancy Luna, queso blanco, Shouldn't, It's, McDonald's, Ashwin Kamlani, Kamlani Organizations: Service, Chipotle, Chapman University in, Wall Street Locations: Wall, Silicon, Chipotle, Orange , California, Chapman, Chapman University in Orange, queso, McDelivery, That's
In 2021, the clothing brand teamed up with the carbon-accounting startup Watershed to track carbon emissions, mostly from Everlane's supply chain, using data collection. Everlane is one of several companies using carbon-accounting startups to track emissions and put a dollar amount on their carbon footprints. Investment by venture-capital firms in carbon-accounting startups surged from $60 million in 2020 to $767 million in 2022, according to PitchBook. But it's challenging to precisely monitor this since companies' emissions are not the same, and they often overlap. The startup works with small, midsize, and enterprise companies, including Virgin Atlantic.
Persons: Everlane, Katina, Maria Fujihara, Fujihara, Amelia Penniman, Benchimol, Lauren Gifford, Gifford, DoorDash, Michael Thornton, Thornton Organizations: Service, Fortune Business, Sinai Technologies, Bayer, Siemens, SINAI Technologies, Investment, BlackRock, Walmart, Greenhouse Gas Management Institute, US Environmental Protection Agency, International Energy Agency, Carbon Analytics, Greenhouse, Greenhouse Gas Management, Securities and Exchange Commission, Carbon Solutions, Colorado State University, Virgin Atlantic Locations: Sequoia, Airbnb, Sinai
It's possible to get into real estate with little-to-no savings. Investors who started with very little share the strategies they used to get their first properties. 20-year-old friends and college dropouts Caleb Hommel and Chuck Sotelo raised capital and structured a seller financing dealAdvertisementAdvertisementChuck Sotelo (L) and Caleb Hommel started investing in real estate in their teens. Hommel and Sotelo, who met on the first day of high school, were teenagers when they decided they wanted to invest in real estate. They were still in junior college at the time and delivering food to pay for an online real estate mentorship program.
Persons: Caleb Hommel, Chuck Sotelo, Sotelo, they'd, Zeona McIntyre, McIntyre, Hommel, she'd, Sean Allen, Sean Allen Sean Allen, Allen, Seegars, Jim Resonable, Jervais Organizations: Service, DoorDash Locations: Wall, Silicon, Texas, Boulder , Colorado, Sotelo, Boulder, North Carolina, California, Greensboro , North Carolina, Greensboro, North Carolina , California, Georgia
SYDNEY, Aug 31 (Reuters) - Australian gig workers will be able to negotiate for minimum pay and conditions under a new law to be introduced next week in parliament by the centre-left Labor government. The law will define "employee-like workers" in the gig economy, a catch-all term including those who deliver food or drive for apps like Uber (UBER.N) or DoorDash (DASH.N). However, the umpire will have discretion to vary standards between workplaces and the laws will not mandate uniform pay or conditions. The issue of how to qualify the legal status of gig economy workers is being debated in many countries. "We welcome the minister confirming his commitment to protect the flexibility gig workers rely on and value, an Uber spokesperson said in a statement.
Persons: Tony Burke, Burke, Uber, Lewis Jackson, Robert Birsel Organizations: SYDNEY, Labor, Thomson Locations: Australia, Canberra
Gig workers share accounts on other apps, including Instacart and Walmart's Spark. In many cases, the delivery workers appear to be using accounts set up by friends, partners, or other real people. DoorDash told Insider that it verifies its drivers' identities using a government-issued photo ID card and a selfie that each driver uploads. AdvertisementAdvertisementDoorDash has a "zero-tolerance" policy for users who share accounts with other people, it told Insider. Gig workers share accounts on other delivery apps, too.
Persons: llzklifestyle, Ebony, that's, shamarkanderson, Abby, DoorDash, Uber, Instacart Organizations: Service, Workers, DoorDash, Instacart, Spark, Walmart Locations: Wall, Silicon
CNBC's Jim Cramer received some excellent investing advice from his daughters when they were teens. Teenagers may not be interested in stocks, he said, but they often have unique insight on popular trends before the go mainstream. For example, Cramer's daughters helped him predict the success of Domino's Pizza . I never minded the phone, was always patient about when the pizza would arrive, never cared about the interchange with the delivery person," Cramer said. Cramer did acknowledge that teenagers' trends won't always be big winners on the stock market.
Persons: CNBC's Jim Cramer, Cramer's, Cramer, Domino's Organizations: Apple Locations: DoorDash
Tech IPOs are coming back — now they have to perform
  + stars: | 2023-08-28 | by ( Ari Levy | ) www.cnbc.com   time to read: +3 min
It's been 20 months since a notable venture-backed tech company went public in the U.S., and the chatter in Silicon Valley has centered around who will break the ice. The three companies have very little in common, but collectively they represent a test of the excitement level among public market investors for new opportunities. Depending on how they perform out of the gate, their offerings could propel others to follow in the fourth quarter. By "yesteryear," Buyer is referring to the kinds of valuations tech companies were achieving in 2020 and 2021, which were record years for tech IPOs. DoorDash, which is probably Instacart's closest public market comparison, currently trades at 3.8 times revenue.
Persons: It's, Japan's SoftBank, Lise Buyer, yesteryear, DoorDash, Andreessen Horowitz Organizations: Nasdaq, V, Software, Sequoia Locations: U.S, yesteryear
Instacart's recent IPO filing delivered Wall Street some surprising insight into the grocery delivery business, and how competitors Uber and DoorDash 's could better harness advertising opportunities to unlock profit. Last week, the grocery delivery company brought an end to the tech IPO drought when it filed to go public on the Nasdaq Stock Market . And according to some Wall Street analysts, the filing revealed a better positioned company than expected, and one further along on the road to profitability than Uber and DoorDash at the time of their respective IPOs. Filings also revealed insight into customer behavior that both DoorDash and Uber can apply to their budding grocery segments. 'Cautious read-throughs' Despite widespread optimism about the long-term outlook for the grocery delivery business, the filing also revealed some near-term growth concerns for grocery delivery orders.
Persons: Uber, Bernstein, Nikhil Devnani, bode, Bernstein's Devnani, Lloyd Walmsley, Walmsley, — CNBC's Michael Bloom Organizations: Nasdaq, UBS, DASH
Instacart’s mixed bag has valuation opportunities
  + stars: | 2023-08-28 | by ( Anita Ramaswamy | ) www.reuters.com   time to read: +4 min
If it doesn’t push valuation too hard, a public listing could be seamless. Instacart booked net income in 2022, a rarity for a growth company hitting the public market. That brings Instacart’s enterprise value to roughly $17 billion, less than half of what it was worth in 2021 but still higher than the internal valuation it inked last year. Follow @AnitaRamaswamy on XCONTEXT NEWSGrocery-delivery business Instacart filed paperwork to go public on Aug. 25 under the formal name Maplebear. The company, which did not share its target price range in the filing, grew revenue by 39% in 2022 to $2.6 billion.
Persons: Eric Cohn, Cheney Orr, Fidji Simo, Instacart, Simo, Apoorva Mehta, Domino's, Lauren Silva Laughlin, Sharon Lam Organizations: Safeway, REUTERS, Reuters, Nasdaq, Kroger, Aldi, Costco Wholesale, Companies, Thomson Locations: Tucson , Arizona, U.S, Cava
Over 2,400 celebrities flocked to Cameo amid the SAG-AFTRA strike. AdvertisementAdvertisementShort-video request app Cameo has seen over 2,400 celebrities starting or reactivating their accounts since the actors' strike began in July, the company's CEO told CNN on Sunday. Cameo is an app where users can pay celebrities to make personalized short clips. Despite the recent influx of celebrities, Cameo has grappled with layoffs, axing 80 of its workforce in July and leaving the company with less than 50 employees, the Information reported. Galanis said at the time Cameo hired too many workers too quickly to "support both fan and talent demand during the pandemic lockdowns."
Persons: Fran Drescher, Alyssa Milano, Steven Galanis, Galanis, , Cameo, Cheyenne Jackson, Milano, Raymond, Fred Stoller, Elijah Wood Organizations: SAG, Actors, Morning, CNN, Screen Actors, New York Times Locations: Hollywood
In 2021, Kalanick raised $850 million at a $15 billion valuation from backers including Microsoft. One, a physical ghost kitchen arm called CloudKitchens in the US, transforms mainly warehouses into private kitchen spaces that big companies and mom-and-pops alike can rent. 2021 fundraiseTravis Kalanick Theo Wargo/WireImageIn late 2021, CloudKitchens' parent company raised $850 million at a $15 billion valuation, Insider exclusively reported. Some entry-level sales employees have struggled at Otter, Insider reported. CloudKitchens US locationsA 2021 Insider analysis showed how CloudKitchens (and competitor Reef) snapped up properties across the US.
Persons: Travis, Kalanick, Travis Kalanick, Uber, , fundraise Travis Kalanick Theo Wargo, CloudKitchens, John Curran, they're, Sawyer, Meghan Morris Organizations: Microsoft, Morning, Storage Systems, CSS, Investors, Uber, Financial, City Storage Systems, Wall Street, Amazon, CIA, Otter Locations: Los Angeles, Saudi, Miami
The company outlined its business as well as a plan to sell $175 million in shares to PepsiCo. The grocery delivery service filed a prospectus, a detailed document that outlines Instacart's business and IPO ambitions, on Friday afternoon. Instacart will also sell $175 million in Series A preferred stock to beverage giant PepsiCo as part of a private placement, according to the document. Instacart said its average order value was $110 in 2022In total, Instacart works with 80,000 stores. As of June 30, 2023, it has 5.1 million Instacart + members.
Persons: Instacart Organizations: SEC, PepsiCo, Service, NASDAQ Global, Publix, Costco, Aldi, CVS, Walgreens, Walmart, DoorDash Locations: Wall, Silicon
Instacart, the grocery delivery company that slashed its valuation during last year's market slide, filed its paperwork to go public on Friday in what's poised to be the first significant venture-backed tech IPO since December 2021. In May, Instacart said it was leaning into the generative AI boom with Ask Instacart, a search tool that aims to answer customers' grocery shopping questions. Instacart will try and crack open the IPO market, which has been mostly closed since late 2021. In March of last year, Instacart slashed its valuation to $24 billion from $39 billion as public stocks sank. Apoorva Mehta, Instacart's founder and executive chairman, plans to transition off the board after the company's public market debut, according to a 2022 release.
Persons: Instacart, Fidji Simo, haven't, Japan's SoftBank, Uber, They've, Simo, Mark Zuckerberg, Apoorva Mehta, Barry McCarthy, Snowflake, Frank Slootman, Andreessen Horowitz's Jeff Jordan, Shipt, Goldman Sachs, Nick Giovanni Organizations: Nasdaq, PepsiCo, Maplebear Inc, Target, Walmart, Meta, Walmart Grocery, Google, Sequoia Capital, DJ Capital Partners, Norges Bank Investment Management, TCV, D1 Capital Partners, Valiant Capital Management Locations: what's
Walmart's delivery platform, Spark, has tripled its delivery-driver workforce over the past year. Insider spoke to six Spark drivers across the US and a Walmart employee who works with Spark drivers. "We encourage drivers to report any concerns to Spark Driver platform driver support so we can investigate and take the appropriate action." Earlier this year, Spark drivers protested at a Walmart Supercenter in Illinois over what they described as a prevalence of drivers who use bots on Spark. Several Spark drivers said that different stores they deliver for have different policies for checking drivers' IDs before dispensing orders.
Persons: Mike Del Rio, Del Rio, he'd, he's, Del, they've, Scott Olson, it's, John David Rainey, Spark, Joseph, Gregory Carr, Yeji Jesse Lee, Jeffrey Greenberg, They're, we're, We'll, Jessica, Alex Bitter Organizations: Walmart, Service, Walmart's, US, Insider, Universal, Getty Locations: Wall, Silicon, Utah, Del Rio, New Jersey, Mississippi, Texas, Illinois, North Texas, Florida
We both do DoorDash, and probably when those federal student loans start up, it'll be more of a necessity to do that." While private debt makes up just about 10% of the $1.7 trillion student-debt mountain in the US — about $136 billion — the industry has exploded over the past decade: the amount of outstanding private debt has jumped an estimated 47% since 2014. "Regardless, the student loan debt that was supposed to be an investment in their futures is dragging them down." To be sure, some private servicers do disclose benefits private borrowers could lose should they choose to refinance. Moran said he didn't regret taking out private student loans because it allowed him to pursue his desired nursing career.
Persons: Brianne Jones, Jones, she's, We're, it'll, Michele Shepard, they've, it's, Shepard, Suzanne Martindale, , Anna Anderson, you've, It's, Navient, Martindale, Ryan Moran, Moran, Moran isn't, Joe Biden, I've, Anderson, forbearance, Steve Cohen, didn't Organizations: Eastern Michigan University, West, Federal Direct Loan Program, Institute for College, California's Department of Financial Protection, National Consumer Law Center, Consumer Financial, Bureau, Consumer Financial Protection Bureau, — Maryland Locations: Florida, , California
New York CNN —Lyft and Uber threatened to stop doing business in Minneapolis after the city council adopted a new rule Thursday that would set a minimum wage for rideshare drivers. In a 7-5 vote, the Minneapolis City Council passed an ordinance that includes a number of rideshare worker protections, including a minimum wage for Uber and Lyft drivers. Minneapolis is debating the minimum wage as gig workers across the country are advocating for fair wages and job benefits. Uber sent an email to its drivers on Monday, urging them to contact the Mayor and City Council to ask them to oppose the move. Uber said its drivers sent over 700 emails on Thursday, but did not specify what was in those emails.
Persons: New York CNN — Lyft, Uber, Jacob Frey, Lyft, , , Frey, ” Uber, Ally Peters, Mayor Frey Organizations: New, New York CNN, Minneapolis City Council, Uber, CNN, Mayor, City Council, New York City Locations: New York, Minneapolis, City, California
Workers for Instacart and other delivery apps are marking tip-baiters on Google Maps. Several points labeled "Tip Baiter" disappeared from Google Maps after Insider reached out to Google for comment. Some gig workers are fighting back and warning colleagues not to take orders from tip baiters by labeling customers' homes on Google Maps. But several points labeled "Tip Baiter" disappeared from Google Maps after Insider reached out to Google for comment on this story. The Minnesota shopper told Insider about another Costco order she delivered to a restaurant outside of the Twin Cities.
Persons: Instacart Organizations: Instacart, Google, Service, Costco, Workers, Walmart, Twin, North Carolina Locations: Wall, Silicon, Minnesota, Milwaukee , Wisconsin, Twin Cities, North
Delivery orders are typically more expensive, thanks to added fees and tips for delivery drivers. But delivery orders have also become an important contributor to restaurants' revenue because customers' receipt totals are higher. Cava's second-quarter sales growth wasn't hurt by softening delivery sales, but the Mediterranean chain's full-year forecast was cautious. After same-store sales growth of 28.4% for the first quarter and 18.2% for the second quarter, Cava is anticipating same-store sales growth of just 13% to 15% for the full year. Uber said its second-quarter delivery sales rose 14%, while DoorDash's total orders climbed 25%.
Persons: Sweetgreen, Mitch Reback, Cava, Tricia Tolivar, didn't, Uber Locations: Cava, North America
TikToker Roman Sparkles said he would snub a customer for a 50% tipping regular, in a now-viral video. This video rides a wave of TikTok videos highlighting tipping culture frustrations. says an off-screen customer in Sparkles' video — which appears to be a skit — as the bartender ignores him to take the big tipper's order. Majority of the over 1,000 comments on Sparkles' video endorsed his viewpoint. And it's not just bars and ice cream joints that are subject to tipping frustration.
Persons: Sparkles, TikToker Jason Regan, Organizations: Idc, Service, Forbes, Wall Street Locations: Wall, Silicon, Michigan
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