Last updated: 12:30 07 May 2024 EDT, First published: 11:45 07 May 2024 EDT
Instacart (NASDAQ:CART) shares got a boost after it agreed an Uber Eats tie-up, so its customers will be able to order restaurant deliveries from its app.
The app, which currently enables users to order groceries from a range of retailers, is adding a new Restaurants tab that will expand the service to restaurant-cooked meals that will be fulfilled by Uber Eats and its couriers.
Instacart (NASDAQ:CART) CEO Fidji Simo said: "Through this partnership, Instacart (NASDAQ:CART) customers now have access to both the best online grocery selection in the US and restaurant delivery, making it even easier for them to conveniently tackle all their food needs from a single app."
Uber said teaming up with Instacart should "help drive more orders" to its restaurant partners by extending its restaurant selection to families in suburban markets that use Instacart.
Shares of Instacart traded 3% higher at about $38 in the early afternoon on Tuesday.