Instacart Adds Prescription Delivery

By Jaewon Kang

Instacart Inc. said it will team up with Costco Wholesale Corp. to offer medication delivery from nearly 200 stores. The companies, which partnered in 2016 on grocery delivery, plan to expand the pharmacy service nationally in the coming months.

Instacart, which was last valued at $7.87 billion in 2018, has been rapidly growing its operations during the coronavirus pandemic to keep up with higher demand as more consumers try grocery delivery. The San Francisco company said last week's total number of deliveries quadrupled year-over-year.

Over the past month, the company has added more than 150,000 of the 300,000 delivery staff it wants to bring on by the end of June. It also doubled the size of its customer-service team, in part by hiring employees from Hilton Worldwide Holdings Inc. and other companies reducing headcount.

(END) Dow Jones Newswires

April 16, 2020 14:26 ET (18:26 GMT)

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