Instacart’s sales figures make clear that the company remains heavily dependent on its legacy business of providing e-commerce capabilities to retailers to fuel its finances: More than 70% of its approximately $3.4 billion in revenue over the past fiscal year stemmed from the delivery and pickup operations it handles from grocers.

But Instacart has made no secret of its desire to be defined more as a technology innovator than as an online grocery service provider — and recent developments at the firm underscore that ambition. Speaking last October at Groceryshop, CEO Fidji Simo said Instacart’s path to future growth and profitability depends on moving beyond its original business model into a realm where investors and retailers see it more as a tech company than a grocery app.

Instacart’s announcements in recent months reflect Simo’s ambitions. The firm has focused heavily on bringing its Caper Cart smart carts to more retailers and encouraging grocers to deploy its Carrot Tag electronic shelf labels. Earlier this month Instacart said it intends to use its artificial intelligence software coupled with videos from its workers to help grocers track inventory. 

Still, while Instacart saw its business move forward robustly by several measures in its latest quarter, the company still missed analysts’ expectations. That earnings miss drove the company’s stock down by the steepest single-day level since it went public in 2023, and its share price has yet to recover.

Here’s a look at some of the biggest announcements from Instacart since the start of 2024.