Instacart CEO Fidji Simo is currently working on rebranding the company as a leading provider of e-commerce technology for supermarkets.
Despite gaining support from staff, Simo now faces the challenge of convincing skeptical Wall Street investors about the company's future.
The grocery delivery service experienced a significant decline in market value, dropping from a peak of $39 billion to just over $10 billion as consumer behavior shifts back to in-store shopping.
This decline highlights the ongoing challenges faced by companies in the grocery tech sector as they navigate a post-pandemic landscape.