Instacart is playing games with its workers’ pay
They have tens of thousands of customers, yet are worth multiple billions of dollars (valued at $2bn in 2015.)<p>That's just incredible.<p>Let's say they have 100k customers who each use the service every week. That's 5.2m orders per year.<p>Let's say $100 per order, to be generous. At a 10% service fee, that's $50m for a two-year-old 40x revenue multiple. Before paying their contracted workforce.<p>This does not make sense.<p>EDIT<p>What I'm really getting at is that these are optimistic numbers, in the wealthiest country in the world, that just elected a populist president (partially) due to economic insecurity.<p>What is the market for +10% on groceries and basic necessities?<p>EDIT2<p>It may be tens of thousands of contractors, not customers (thanks @trevyn!) This is confusing, since I'm not sure what verb to use for the end user on Instacart. ("I am _______ on Instacart" (consuming, shopping, grocing?))<p>Regardless, my number could be an order of magnitude off. I stand by the conclusion.