Instacart CEO: This IPO about giving employees liquidity on stock they worked hard for
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- Опубликовано: 18 сен 2023
- Fidji Simo, Instacart CEO, joins 'Squawk on the Street' to discuss why now was the time to finally go public, how the company arrived at the decision to price where they have, and For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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What the news agencies should be talking about is just how poorly Instacart pays their shoppers and has continuing pay cuts all the while trying to make their company look like it’s doing well. There are so many issues that the shoppers face, this lady has done terrible things to this company.
This CEO always my skin crawl when I see her. She’s also full of BS pretending the IPO is about employees when it is about her making as much money as possible while underpaying and overworking shoppers.
And she neglects to mention that Instacart's post-pandemic growth can be credited to the fact that they're working hand-in-hand with the government to maximize SNAP participation nationwide, from which they directly profit (because they're the ones who brought SNAP benefit redemption online). They're seriously helping push communism in the U.S. by helping to increase people's dependence on government handouts, while they profit from those handouts.
*BOYCOTT INSTACART!*
She is the worst
A heartless monster - horrible company to work for with zero transparency
They simply wouldn’t have a company without us the gig workers. I’ve been doing this full-time with Instacart for almost 3 years and every day is exponentially worse than the day before. Tips are rare and they expect you to work for free. It’s so gross God help you if you speak up it gets really bad. All of a sudden your rating drops mysteriously with no explanation. I’m done -they do not value their five star low cancellation rate excellent employees at all.
Cut the pay on shoppers and puts together crappy batches where you have to drive lots of miles.
This company is worthless it’ll never make a penny the accounting tricks aside to IPO
Instacart now works so closely with the government that they might indeed keep growing. But it will be at taxpayers' expense. Instacart is openly pushing for maximum SNAP participation nationwide, and to increase eligibility for SNAP. They worked exclusively with the USDA to bring benefit redemption online, and they'll rake in money from it (especially after hooking SNAP-eligible people with reduced delivery fees).
*INSTACART IS DIRTY.*
Instacart is stealing tip from driver's and blaming it on customers. Boycott this company. Thieves!
Not to mention the fact that they openly show disdain for white people. They're racist on top of everything else.
Private market investors who bought in at the highest value will need the stock to reach $125 per share if they want to make a profit
will the shoppers have an opportunity to buy shares at employee price?
Why would a shopper buy shares in the same company that treats them like trash?
If you bought at the $40B valuation you need the stock to hit $125 per share to make a profit 😬
I don't like this CEO and I don't like the model it only caters to well-off individuals because as you know if you pay a yearly fee you then pay markup you then pay a service fee for the employees you then pay a tip it's pretty outrageous and unsustainable for the lower class and or middle-class just making it during inflationary times when you can just go to Safeway and you can get there fresh pass for 395 a month includes delivery no markups and you get your rewards also it is a phenomenal deal and sets itself apart from this instacart model where this CEO is so out of touch with customers as they have 7,000 angry customers online because they just don't care very simple a company like that is not a buy
Instacart has been working with the government for several years in the effort to maximize SNAP participation so that they can profit off of the poor, too. Instacart worked exclusively with the USDA to make SNAP benefit redemption available online. They even advocated for a New York City program that lets participants use their (taxpayer funded) benefits to pay for delivery fees in addition to the groceries.
They've been working out this strategy for a long time. It makes one wonder if COVID really was a "plandemic," since we've now seen which corporations have profited from it.
I wish instacart would stop suggesting 5% tip ... an average order is $100 ... so shoppers get $5 for an hr of work
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