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Instacart 2017年4亿美元融资，估值34亿美元，押注杂货配送整合到一个应用上
2017年3月，Instacart完成了超过4亿美元的融资，估值达34亿美元，押注自己将成为美国杂货业的订购和数据层。
Instacart
做的是什么生意
Instacart is an app-only grocery service: customers order from partner supermarkets such as Whole Foods, Costco and Publix, contract shoppers pick the items in store, and delivery arrives within hours; Instacart owns no stores or inventory and takes a markup plus fees on each order.
启动资金：Over $400M in the round reported 2017-03-07 at a $3.4B valuation (amount quoted in the HN thread); the thread does not itemize prior funding.
起因
Instacart was in Y Combinator by 2012 (TechCrunch's Aug 2012 story "How Instacart Hacked YC" is linked in the thread), and by 2017 it ran on-demand grocery delivery from partner supermarkets in US cities. The founding bet, as investors in the thread described it, was that grocery stores were historically bad at e-commerce, so an independent app could win the last mile the stores kept ignoring.
经过
On 2017-03-07 Bloomberg reported that Instacart had closed its latest funding round at a $3.4B valuation; the next day the story drew 149 points and 171 comments on HN. The thread split on what the valuation was for: one commenter argued delivery was a loss leader for the real business of influencing purchase decisions and getting paid for it, calling it a bet that Instacart could become critical marketing infrastructure for the grocery industry; another stressed marketplace consolidation, no inventory and roughly 20% order economics. Skeptics answered that UK grocers had run their own delivery for years, Costco could freeze Instacart out, and a Reddit-documented receipt showed a 64% markup; one commenter still called the over-$400M round wasted money.
还没有结局，它还在跑。
背景
Instacart是一个纯应用杂货服务：顾客从Whole Foods、Costco和Publix等合作超市下单，签约购物者在店内挑选，数小时内送达。它不拥有门店或库存，每笔订单加价并收取费用。其2017年3月融资背后的押注是，分散的美国杂货市场会在超市自建之前整合到一个中立配送应用上。
彭博社于2017年3月7日报道融资，对Instacart估值34亿美元，次日登上HN首页，获得149分和171条评论。帖中一位联合创始人回应了怀疑者，评论者对估值用途有分歧：一些人认为配送是实际业务（影响购买决策并从中获利）的亏本引流品，押注Instacart可能成为杂货业的关键营销基础设施；另一些人则指出市场整合、零库存和约20%的订单经济。
怀疑者提供了更尖锐的数据：英国杂货商自己做了多年配送，Costco可以切断Instacart，一份Reddit上的订单显示加价64%，而将小费并入结账最近被视为收入外观。评论者指出，34亿美元的估值约为Whole Foods市值的1/3。帖中没有记录之后的里程碑，所以本条目止于公告；市场整合论点是否会胜过杂货商自建服务仍是一个悬而未决的赌注。
这件事要成立，得有什么
- 美国杂货市场巨大且分散，而许多大型连锁店在电商方面落后，这给独立应用留下了掌控线上订购体验的空间。
- 无仓库模式保持低资本投入：合作门店提供库存，签约购物者负责挑选，每笔订单加价并收取配送费。
- 市场模式可以一次性整合多个连锁店的需求，为平台提供任何单一杂货商都无法获得的数据和议价能力。
- 投资人将估值定为34亿美元，因为他们相信持久价值不在于配送费，而在于平台能够获取的订单数据和品牌营销预算。
可借鉴之处
只有当中介成为杂货商难以重建的基础设施时，配送中间商才能获得巨大估值；怀疑者都指向同一个风险，即门店会自建。
后续进展
截至2017年3月8日，据报道Instacart刚完成这轮融资，估值34亿美元。该服务已在美国主要都市区上线，从Whole Foods、Costco、Publix等连锁店配送，Express订阅价为每年149美元，典型配送窗口为1-3小时，据用户和联合创始人在HN帖中所述。帖中未记录后续里程碑，因此本条目止于公告；市场整合论点是否能胜过杂货商自建服务仍是一个悬而未决的赌注。
资料来源
- Instacart Raises Funding Valuing Grocery Startup at $3.4 Billion
- Instacart Closes Latest Funding Round at $3.4B Valuation
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