I thought so too. However, the valuation of Instacart is now in the range of Whole Foods $3.4B vs $9.3B
Expect to see much rougher competition from Whole Foods. They have quietly already started this with their coupon app[1] (the wedge) and pickup (powered by instacart)[2]
The valuation doesn't necessitate what they may ever sell at. It'd be very easy for whole foods to acquire instacart after their hypothetical exit never happens and their valuation tanks.
Expect to see much rougher competition from Whole Foods. They have quietly already started this with their coupon app[1] (the wedge) and pickup (powered by instacart)[2]
[1]https://www.theguardian.com/business/2016/feb/10/whole-foods... [2]https://pickup.wholefoodsmarket.com/