Sources tell LatAm List that Instacart is looking to hire developers in Mexico to potentially launch their services in the country. In addition, Instacart is reportedly looking at acquihire Mexico City-based startups to make their transition into Mexico more seamless ahead of their potential IPO.
Instacart’s entrance into the market would bring more competition to Cornershop, Rappi, Justo and other grocery delivery business that are operating in Mexico. As more US companies see the value in expanding into Latin America, we could see more potential acquihires in 2021.
The Latin American grocery delivery industry has been very competitive over the past few years, with multiple companies fighting for market share and investing hundreds of millions of dollars. Instacart’s potential entrance into the market may put additional competitive pressures on the industry.