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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.

Alison Snyder, author of Science
1 hour ago - Science

COVID time warp

Illustration: Sarah Grillo/Axios

The start of the COVID-19 pandemic seems like a lifetime ago to some, and just yesterday to others. Scientists are beginning to unpack the way people processed the passage of time amidst the stress, uncertainty and isolation of the 1 year, 8 months and 21 days since WHO declared a pandemic.

Why it matters: The pandemic's global effects on how people experience time could provide new insights into the brain's ability to perceive and predict time — a fundamental feature of life.

Go deeper (3 min. read)Arrow