Summary List Placement
By all accounts, Instacart is firing on all cylinders lately.
In 2020, Instacart added more than 200 new retailers and more than 15,000 new store locations to its marketplace. Instacart now delivers from more than 45,000 grocery stores and retailers in North America. And its latest round of funding more than doubled its valuation to $39 billion.
In December 2020, new customer acquisitions grew 90% compared to December 2019, according to M Science, which analyzes delivery transaction data.
Instacart’s growth has led to a swirl of executive changes and hiring at the San Francisco-based company.
In early March, Instacart added to its board Frank Slootman, chairman and CEO of Snowflake. Notable corporate hires include new CFO, Nick Giovanni, who came to Instacart from Goldman Sachs; and Asha Sharma, a former Facebook executive, who is now the company’s chief operating officer.
The changes come as reports signal that the company is either delaying its IPO until late 2021 or choosing to go with a direct listing, according to separate stories published by The Information and Reuters.
Insider has put together a list of power players in strategic roles at the company as it eyes an IPO and seeks to keep its dominant position in grocery delivery.
Apoorva Mehta, CEO and founder
CEO Apoorva Mehta founded Instacart in 2012. Instacart said he has “fundamentally changed the grocery industry” by developing an e-commerce platform that allows grocers to connect with customers and offer them same-day delivery.
He previously worked as a design engineer at Blackberry and Qualcomm and was a supply chain engineer at Amazon.
As Instacart’s top boss, he’s laid the groundwork for the expansion of the e-commerce platform by adding merchants other than grocery partners. New merchants added over the past year include Walmart, Bed, Bath and Beyond, Family Dollar, DICK’S Sporting Goods, and Walgreens.
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Source:: Business Insider