Founder Apoorva Mehta, who has led the grocery delivery startup for nearly a decade, is now the company’s executive chairman and has handed the top job to Fidji Simo, a board member who will leave her post as a key Facebook executive. “The idea of someone else running the company never crossed my mind,” says Mehta, who has been working alongside Simo since she joined the board in January 2021. But when I came to the conclusion that this would be a better longer-term decision for our future business, the decision became easy.”Fidji Simo (left) will become Instacart CEO while founder Apoorva Mehta (right) will move to an executive chairman role. Instacart’s advertising division, which debuted in 2019, brought in revenue of $1.5 billion last year, will be a big part of what Simo focuses on. There’s literally an advertising product inside people’s cart, which is the holy grail in advertising,” says Simo.

Source: Forbes July 08, 2021 15:30 UTC