Instacart, legally Maplebear Inc. (NASDAQ: CART), is a publicly traded grocery technology company. Founded in 2012, it went public in September 2023. As of May 2026, Instacart trades at roughly $40 per share with a market capitalization near $9.4 billion, and Chris Rogers took over as CEO in August 2025.
- Instacart reported full-year 2025 revenue of $3.74 billion, an 11% increase over 2024.
- The company processed 338.8 million orders in 2025, up 15% year-over-year.
- Instacart’s advertising division exceeded $1 billion in revenue for 2025 with over 9,000 active brand partners.
- Gross transaction value for Q4 2025 reached $9.85 billion, a 14% year-over-year gain.
- Instacart generated $971 million in operating cash flow during 2025 and repurchased $1.4 billion in shares.
How Did Instacart Get Its Name?
The name “Instacart” combines “instant” and “cart.” Apoorva Mehta chose it to communicate speed and simplicity: a shopping cart that comes to you, almost instantly. Mehta had gone through roughly 20 failed startup ideas before landing on grocery delivery. Maplebear Inc. is the legal entity, though the consumer-facing brand has always operated as Instacart.
Instacart’s Products and Services
Instacart Marketplace
- Same-day grocery delivery and pickup
- Partners with 1,800+ retail banners
- 26 million customers used it in 2025
- Available across the U.S. and Canada
Storefront Pro
- White-label e-commerce for grocers
- 350+ retailer customers
- Branded online storefronts
- Integrated retail media capabilities
Caper Carts
- AI-powered smart shopping carts
- Deployed in nearly 100 cities across 15 states
- In-cart checkout and ad display
- 40% of users redeemed smart-cart discounts
Carrot Ads
- Retail media network for grocers and brands
- 240+ retail partners use the platform
- 7,500+ brand advertisers
- Sponsored products and display banners
FoodStorm
- Catering and prepared foods management
- Live in 3,000+ stores
- More than doubled since end of 2024
Carrot Tags
- Electronic shelf label software
- Real-time pricing updates
- Integrated with in-store ad campaigns
Instacart’s Mission Statement
Instacart’s stated mission is “to create a world where everyone has access to the food they love and more time to enjoy it together.” Its vision is to become “the most essential service for every household.”
CEO Chris Rogers outlined four operational priorities in a 2025 shareholder letter: convenience, affordability, quality, and selection. The company has expanded well beyond its original delivery-only model, now providing technology that helps grocers, including independent food businesses, manage online and in-store operations through a single platform.
Who Owns Instacart
Instacart became a publicly traded company following its September 2023 IPO, which raised $660 million at a share price of $30 and valued the company at approximately $10 billion. That figure was a step down from a $39 billion peak valuation recorded in March 2021.
Institutional investors now hold about 75.58% of Instacart’s shares. Vanguard Group and BlackRock rank among the largest holders. Insiders collectively own roughly 60% of the company. Instacart operates under a single class of common stock, meaning each share carries one vote, unlike some tech companies that use dual-class structures to concentrate control.
Largest Shareholders of Instacart
Sequoia Capital
- Holds an 18% stake
- Earliest major institutional backer
- Participated in 2013 Series A ($8.5M round)
D1 Capital Partners
- Holds a 13% stake
- Founded by Daniel Sundheim
- Sundheim sits on Instacart’s board
Apoorva Mehta
- Largest individual shareholder at ~10%
- Owns 20+ million shares via trust
- Left the board after the 2023 IPO
Other Institutional Holders
- Andreessen Horowitz
- T. Rowe Price
- Fidelity Management and Research
- Vanguard, BlackRock (post-IPO)
In May 2025, Instacart’s board authorized up to $1 billion in share repurchases, building on earlier authorizations of $750 million from 2024. By Q1 2025, roughly $218 million of that capacity remained. PepsiCo also committed $175 million in Series A preferred stock as part of the IPO, making it a notable strategic investor. Companies with large institutional ownership bases tend to see active governance participation from those investors.
Instacart Founders and Early Years
Apoorva Mehta, Brandon Leonardo, and Max Mullen co-founded Instacart in San Francisco in 2012. Mehta, a former Amazon supply chain engineer, secured a spot in Y Combinator’s Summer 2012 batch by delivering beer to a partner via an early version of the app.
At the September 2023 IPO, Mehta held 10%. Leonardo and Mullen each held 3% pre-offering, adjusting to 2% afterward. Mehta transitioned from CEO to executive chairman in August 2021 and left the board after the IPO. Like other venture-backed tech companies, early equity arrangements shaped how founder stakes shifted over time.
Instacart Board of Directors and Leadership
Executive Leadership
Investment and Finance Directors
Industry and Independent Directors
How Instacart’s Ownership Has Changed Over Time
| Event | Date | Detail |
|---|---|---|
| Y Combinator Seed | 2012 | Initial funding from YC, Canaan Partners, Khosla Ventures |
| Series A | 2013 | Sequoia Capital invested $8.5 million |
| Peak Private Valuation | March 2021 | Reached $39 billion |
| IPO | September 2023 | Raised $660 million at $30/share (~$10B valuation) |
| Share Buyback Expansion | May 2025 | Authorized up to $1 billion in repurchases |
| CEO Transition | August 2025 | Chris Rogers replaced Fidji Simo as CEO |
The 2023 IPO was the most significant event in reshaping Instacart’s shareholder base. Before that, ownership was concentrated among founders and private investors like Sequoia and SoftBank. Going public introduced a broad set of retail and institutional shareholders. In Q4 2025 alone, Instacart repurchased $1.1 billion of its own stock. Tracking how public companies manage post-IPO ownership shows a similar pattern among recently listed firms.
FAQ
What is the net worth of Instacart?
Instacart’s market capitalization stood at roughly $9.4 billion as of May 2026. The company reported $3.74 billion in full-year 2025 revenue and $457 million in GAAP net income for 2024.
Who owns Instacart?
Instacart is publicly traded on NASDAQ under ticker CART. Sequoia Capital holds 18%, D1 Capital Partners holds 13%, and founder Apoorva Mehta holds approximately 10%. Institutional investors control about 75% of all shares.
Is Instacart an American company?
Yes. Instacart, legally Maplebear Inc., is incorporated in Delaware and headquartered in San Francisco, California. It operates across the United States and Canada.
When did Instacart launch?
Instacart launched in 2012 in San Francisco. Apoorva Mehta, Brandon Leonardo, and Max Mullen founded the company. It joined Y Combinator’s Summer 2012 batch and began delivering groceries the same year.
What is Instacart’s market cap in 2026?
Instacart’s market capitalization is approximately $9.4 billion as of May 2026, with CART shares trading around $40. The company’s market cap has fluctuated between $8.6 billion and $11.8 billion over the past year.
I've spent over a decade researching and documenting the stories behind the world's most influential companies. What started as a personal fascination with how businesses evolve from small startups to global giants turned into CompaniesHistory.com—a platform dedicated to making corporate history accessible to everyone.