Instacart's advertising business is growing quickly, with advertising and other revenue rising 16% year over year to $297 million in 2Q. The ad segment now represents 2.9% of gross transaction value, up from prior periods. Instacart expanded its self-service ad partnership with Pinterest during the quarter, allowing brand advertisers to run campaigns using the company's first-party audience data and closed-loop sales analytics.

This article was automatically created using artificial-intelligence technology and reviewed by Dow Jones Newswires editors.