CSU

A programming note: I am currently working on a Deep Dive on Instacart which I expect to publish by 25th of this month. I have recently spent some time in understanding Amazon’s ambition in groceries (see part 1 and part 2); given Instacart’s success in grocery delivery, I

After owning Constellation Software (CSU) for almost three years, I wrote the following in April 2025 (see final section): “I do not see anything particularly concerning about the business today. It’s a very well run business and run by pretty competent and high integrity management. However, I think the