What Instacart’s IPO Foretold About Digital Ads, Retail And The Future Of Search

📆 10/9/2023 9:00 PM
📰 ForbesTech

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I have special expertise in the changing digital landscape and its impact on consumers’ lives from many years in the industry, having been for more than a decade the CMO of IAB, where I observed the forces at play from a privileged position. Recently, I founded DD Digital Perspectives to advise such clients as The 614 Group, ad tech companies and publishers including Google. I’ve been lucky to learn from and can call on a wide variety of industry contacts, wiser than I am, in marketing, publishi

When Instacart came out of the gate with its IPO on September 18, it made its debut dressed up in green finery that few others have bothered to don in the digital era: Its business had already been turning a profit since 2022, and “

Roughly 28% of Instacart’s net income of $2.5 billion in 2022, or $740 million, was in advertising revenue and the company earned $428 million in profit, compared with a $73 million loss the year before. While it’s not something we’ve seen a lot in past filings for IPOs, it is something we are seeing more and more—that advertising is driving a whole different part of the economy than where it traditionally operated. “Retail media” is all the hype in the ad business, and for good reason.

Unlike other retailers turned retail media advertisers like Target Instacart has taken it one step further: Instacart launched new retail media ad-tech service that

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