gener8tor Alumni GrocerKey Acquired by Point Pickup
Point Pickup Technologies, a last-mile delivery service, has acquired white-label e-commerce platform GrocerKey for $42 million, according to the company. With the acquisition, Point Pickup now allows retailers to offer same-day delivery under their own brand name, rather than under third parties like Instacart.
Instacart made a killing delivering groceries and goods for retailers during the coronavirus pandemic, with a generated revenue of $1.5 billion in 2020 and $35 billion worth of sales. The company has an estimated 9.6 million active users and over 500,000 “shoppers” who pick up and deliver goods.
New entrants to the same-day delivery space are cropping up, which aligns with the expected growth of the industry to $20.36 billion by 2027, according to Allied Market Research. But companies like Amazon and Instacart that perform this service and host a delivery marketplace get far more than sales revenues — they also get all the customer data.
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originally published in TechCrunch, on August 26, 2021
written by Rebecca Bellan