Instacart, FTC
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Maplebear stock was dropping following a report that the FTC has sent Instacart a civil investigative demand over its use of AI-set pricing.
A recent investigation that found Instacart is charging some customers nearly 25% more for the same products from the same store got a lot of people’s attention, including the Federal Trade Commission. According to a report from Reuters, the agency has opened a probe into Instacart’s pricing practices.
Shares of Instacart Inc. (NYSE: CART) declined 6.64% in pre-market trading on Thursday, after a report that the Federal Trade Commission (FTC) is launching a probe into its AI-based pricing tool.
New research shows a country-wide experiment by Instacart has been charging shoppers different prices for the same product at the same store.