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Instacart now valued at $13.7 billion

Dan Primack, author of Pro Rata

Illustration: Sarah Grillo/Axios

Grocery delivery company Instacart announced Thursday that it raised $225 million in new venture capital funding at a $13.7 billion valuation.

Why it matters: Instacart was often an afterthought for those following the gig economy, until the coronavirus pandemic made it a lifeline for many Americans who were unable or unwilling to shop for groceries. It's now valued higher than competitors like Postmates, Grubhub, Lyft and DoorDash.

Go deeper: Instacart claims strike had "no impact" on operations

Go deeper

Dan Primack, author of Pro Rata
Sep 1, 2020 - Economy & Business

DoorDash CEO Tony Xu on the employee vs. independent contractor debate

Illustration: Sarah Grillo/Axios

Restaurant delivery company DoorDash is expected to be part of the post-Labor Day IPO rush, having filed confidential registration documents back in February. But it's also facing an existential threat to its business model and needs to quickly come up with some better rhetorical defenses.

Driving the news: My interview with DoorDash co-founder and CEO Tony Xu was shown Monday night on "Axios on HBO," with a heavy focus on the employee vs. independent contractor debate. At best, he held his cards close to his chest. At worst, he whistled past the graveyard.

Go deeper (1 min. read)Arrow
Dan Primack, author of Pro Rata
Sep 1, 2020 - Economy & Business

DoorDash CEO doesn't slam door on "Dasher" unionization

DoorDash, like most other gig economy companies, is reliant on a business model whereby workers are categorized as independent contractors instead of as employees. But, unlike traditional independent contractors, "Dashers" don't have the ability to directly negotiate with the company.

"Axios on HBO" dug into this seeming discrepancy with DoorDash CEO Tony Xu, and also asked if he'd be open to Dasher unionization.

Orion Rummler
19 mins ago - Politics & Policy

Biden Cabinet confirmation schedule: When to watch hearings

Joe Biden and Kamala Harris on Jan. 16 in Wilmington, Delaware. Photo: Angela Weiss/AFP via Getty Images

The first hearings for President-elect Joe Biden's Cabinet nominations begin on Tuesday, with testimony from his picks to lead the departments of State, Homeland and Defense.

Why it matters: It's been a slow start for a process that usually takes place days or weeks earlier for incoming presidents. The first slate of nominees will appear on Tuesday before a Republican-controlled Senate, but that will change once the new Democratic senators-elect from Georgia are sworn in.

Go deeper (1 min. read)Arrow