Instacart moves past Whole Foods loss

|About: Instacart (ICART)|By:, SA News Editor

Instacart (ICART) isn't sweating the official end of its partnership with Whole Foods today.

CEO Apoorva Mehta points out out that "pretty much every major grocer" in North America is now partnering with Instacart. Whole Foods is estimated to only account for about 5% of Instacart's business after once being its largest customer.

Mehta is still guiding the company toward an eventual IPO and is aware that profitability will be an important metric in that pursuit.

The sputtering IPOs of Uber and Lyft have raised questions if some private companies would rethink their strategies.

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