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Briefing

Apoorva Mehta to become chairman as Instacart poaches Facebook executive for CEO role

Fidji Simo has served on the grocery-delivery company’s board of directors since January, and worked at Facebook since 2011, most recently leading its app team. She starts Aug. 2. (The Logic)

Briefing

Apoorva Mehta to become chairman as Instacart poaches Facebook executive for CEO role

By Aleksandra Sagan
Jul 8, 2021
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Fidji Simo has served on the grocery-delivery company’s board of directors since January, and worked at Facebook since 2011, most recently leading its app team. She starts Aug. 2. (The Logic)

Talking point: University of Waterloo alumnus Mehta is handing over the keys to the C-suite of the company he founded. San Francisco-based Instacart had been planning to go public early this year, but now may wait until the fourth quarter. It has partnerships with over 600 retailers in the U.S. and Canada, serving more than 5,500 North American cities, but as my colleague Catherine reported, the biggest challenge to the company’s go-public plans may be its disgruntled gig workforce. Instacart recently doubled its valuation to US$39 billion with a US$265-million funding round, and is reportedly looking at adding automation to its fulfillment process, which currently relies on those gig workers.

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