Instacart shares drop on report that FTC is probing company over AI pricing tool
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In this articleShares of grocery delivery service Instacart dropped about 7% in extended trading on Wednesday, following a report that said the U.S.
Federal Trade Commission has begun an investigation into the company's pricing practices.The FTC sent a civil investigative demand to Instacart, Reuters reported, citing unnamed people.A study released last week showed that prices for the same products in the same supermarkets that work with Instacart can vary by around 7%, which can result in over $1,000 in extra annual costs for customers. Instacart responded by saying that retailers determine prices listed in the app.In 2022, Instacart spent $59 million to acquire Eversight, a company specializing in artificial intelligence-driven pricing and promotions for retailers and consumer packaged goods. Instacart sought to "create compelling savings opportunities for customers in real-time" with Eversight, according to a regulatory filing.The FTC and Instacart did not immediately respond to requests for comment.Read Reuters' full report here.Got a confidential news tip? We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.© 2025 Versant Media, LLC.
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