1、 0 Dear Shareholders,This is my first letter to you as CEO of Instacart and I couldnt be more energized about where were headed.Over the past six years,Ive had the privilege of helping build many of the capabilities and partnerships that make Instacart distinct.Were so much more than a marketplace.I

2、nstacart is the leading technology and enablement partner for the grocery industry helping consumers save time,retailers run their businesses,and brands connect with customers.In a trillion-dollar industry ripe for innovation we power how groceries get discovered,bought,and delivered and were just g

3、etting started.Our foundation is strong,our momentum is growing,and Im confident we have all the right ingredients to accelerate into our next chapter.In Q3,we delivered another strong quarter:orders grew 14%year-over-year,GTV increased 10%,and both net income and Adjusted EBITDA expanded.Our strate

4、gy to accelerate online grocery adoption is working.Were deepening customer and retailer relationships,expanding our ads ecosystem,and launching innovative AI-powered tools across all aspects of our business all while driving profitable growth.Winning in grocery means nailing the fundamentals select

5、ion,quality,convenience,and affordability.Fresh food is the hardest part of online grocery,and its where Instacart shines.Our deep retailer network,data from over 1.5 billion lifetime orders,and our experienced shopper network ensures we deliver the same freshness and care customers expect from the

6、grocers theyve trusted for generations.And we deliver fast.75%of our delivery orders are on demand meaning they are on median delivered in 90 minutes or less,and approximately 25%of typical priority orders are delivered in less than 30 minutes.That combination of selection,quality,speed,and reliabil