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Instacart Tries to Hang on to Whole Foods as Amazon Swoops In

Bloomberg business news

Why the Amazon Deal Is a Seismic Shift in the Industry

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For years, Instacart Inc. pitched its online grocery delivery service to stores as a way to fight against the threat of Amazon.com Inc., the world’s biggest online retailer. Whole Foods Market Inc., Costco Wholesale Corp. and CVS Health Corp. were among those that signed on, hoping to band together against the e-commerce behemoth.

The arrangement became much more complicated Friday, when Amazon said it was buying Whole Foods for $13.7 billion. For Instacart, the deal will turn Whole Foods -- its premier partner and investor -- into a subsidiary of its biggest foe.