Marketplace®

Daily business news and economic stories

Financing for on-demand companies drops off

Looks like you might have to go get groceries instead of having Instacart deliver

There may be a little bit of trouble brewing in the on-demand economy that’s the term dozens of apps and services that have sprung up to grocery shop for you bring you takeout from local restaurants or just 7/11.

Park your car and then bring it to you at the end of the day gas up your car while it’s parked and deliver anything to you, anytime, anywhere.

CB Insights reports that financing for on-demand companies has dropped off dramatically in recent months.

Instacart, the startup that will shop for you and then deliver groceries has announced changes in the way it pays its shoppers. Spoiler: some will make less money.

In the city of Minneapolis, Instacart said it’s going to fire all its drivers and basically close up shop.

This is a big development in the tech world, since investors poured almost 18 billion dollars into funding the type of companies. Even Amazon is struggling with how to make delivery cost-effective.

There is a price for convenience, it just looks like that price might be jobs, startups and investor returns.

Guess I’m doing my own grocery shopping. Womp womp.

Related Topics

Latest Episodes

View All Shows
  • Marketplace
    a day ago
    26:11
  • Make Me Smart
    a day ago
    28:43
  • Marketplace Morning Report
    2 days ago
    6:58
  • Marketplace Tech
    2 days ago
    12:22
  • Million Bazillion
    4 days ago
    5:01
  • This Is Uncomfortable
    a month ago
    2:27
  • Financially Inclined
    2 months ago
    12:30
  • How We Survive
    2 months ago
    22:09
  • The Uncertain Hour
    4 months ago
    22:50
  • Corner Office from Marketplace
    5 years ago
    20:58