Instacart reports generating $8B in revenue since inception

It’s been a big year for Instacart, which made big headlines earlier this year making its long-awaited debut on the Nasdaq, and now the company has released its first Instacart Economic Impact Report on Thursday. 

The company reported  it has created more than 231,000 brick-and-mortar grocery jobs and generated nearly $8 billion in revenue for the grocery industry since forming in 2012. That resulted in more than $15 billion in earnings for its delivery shoppers and more than 700 million hours in time saved by its customers, the company said. 

Instacart noted that it has also added more than 5,500 brand partners since its inception, raising their revenue by an average 15%. 

The San Francisco-based delivery service also helped create tens of thousands of brick-and-mortar jobs, according to an analysis by Dr. Robert Kulick of National Economic Research Associates, according to the report. Small grocery stores of less than 50 employees were big winners through partnerships with Instacart, which helped them create roughly 66,000 new jobs and generate new revenue of approximately $2 billion. 

“This research provides further evidence that Instacart has been an economic catalyst for the U.S. grocery industry—and in particular, for small grocers,” said Kulick, associate director at NERA, in a statement. “The analysis shows that, from its inception, Instacart has driven significant increases in grocery employment and revenue, with a disproportionately high share of those jobs and sales increases at small businesses.” 

Related:Instacart expands nonprofit partnership offering produce stipends: this time in D.C.