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Instacart Ads’ Third Act: Ali Miller on Building the Infrastructure Powering Retail Media’s Future

Instacart’s advertising business is officially in its third act, and it’s the most ambitious one yet. In this recap of my recent article for The Drum, I break down how Ali Miller, GM of Ads at Instacart, is thinking about the company’s evolution from sponsored products to something much bigger: becoming the infrastructure that powers an entire retail media ecosystem.

I walk through Instacart’s three-act playbook, why its early bets on incrementality and self-serve set it apart, and how platforms like Carrot Ads are quietly reshaping how brands and retailers think about scale, measurement, and…

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