Instacart’s Founder and Executive Chairman Apoorva Mehta has announced to step down from the online grocery delivery service he founded nearly a decade ago.
Completing the Journey
Apoorva Mehta predicted the need for online grocery delivery service nearly a decade ago.Born in India, Apoorva lived in Libya before moving to Canada, where he eventually studied engineering at the University of Waterloo. He worked as an engineer at Blackberry, Qualcomm and Amazon before leaving his job to be an entrepreneur in 2010. He came up with ideas for around 20 products (none worked out) before starting Instacart in 2012.
Since the Founding of the company, Instacart is valued at $24 billion as of March 2022 giving Metha a personal estimated net worth of $2.2 billion, according to Forbes.
On July 22nd, 2022, Metha announced on Twitter that upon IPO, he’ll be stepping down from his position as Executive Chairman to pursue other interests.
CEO Fidji Simo has been appointed as the Chair of the Board of Directors as Mehta makes his way out of the board, according to a press release by Instacart.
1 Today I’m announcing that once @instacart becomes a public company, I’ll be stepping down as Executive Chairman and transitioning off the board of directors — Apoorva Mehta (@apoorva_mehta) July 22, 2022
