Travel accounts for more than half of transaction volume on Instinct, according to founder Noah Shinn, as the invite-only AI assistant approaches $1 billion in annual transaction volume. Shinn said the platform is also growing by about 10% each day, with transaction volume rising at a similar pace.
Shinn shared the figures during a recent interview with investor Patrick O’Shaughnessy. He did not explain how Instinct calculates the annual transaction figure, making it unclear how much completed spending is represented by the estimate.
Travel Drives More Than Half of Transaction Volume
Shinn said travel has become the largest transaction category on Instinct because users can ask the agent to handle urgent or complicated bookings through a conversational interface. Instead of comparing hotel chains, airlines, and other services themselves, users can ask Instinct to find and complete suitable bookings.
He gave the example of someone telling the assistant, “I need to be in New York tonight; it’s urgent.” Instinct is designed to work through its own phone and computer to complete tasks on behalf of users.
The company describes Instinct on its official website as a personal assistant that can interact through messaging, phone calls, email, and other connected services. Its capabilities include arranging transportation, completing purchases, and following up on tasks that users have left unfinished.
Instinct recently confirmed a $1 billion Series C round that valued the 14-person startup at $10 billion, with Sequoia Capital, Benchmark Capital, and Coatue among its investors. The financing came about a month after an earlier round valued the company at $2.5 billion.
Restaurant Reservation Comments Draw Criticism
Shinn also discussed how AI agents could handle restaurant reservations differently. He said an agent could repeatedly monitor booking systems for newly available tables and notify users when a suitable reservation appears.
He also suggested restaurants may want to prioritize customers celebrating significant occasions rather than rely entirely on first-come-first-served bookings. Some observers criticized the comments, noting that agents could falsely claim anniversaries or other events, while restaurants may value local customers who return regularly.
Instinct is competing in the personal AI agent market with Meta’s Muse and Khosla Ventures-backed Wajo. Shinn said the platform’s rapid growth is increasing both overall activity and the volume of transactions handled through its agents.
Featured image credits: Magnific.com
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