Bloomberg Law
Capital Markets
LinkedIn

Instacart Founder Exits With $1.1 Billion Fortune After IPO (1)

Sept. 19, 2023, 8:20 PM UTC
Biz Carson
Biz Carson
Natalie Lung
Natalie Lung
Bloomberg News

Instacart co-founder Apoorva Mehta is checking out with a $1.1 billion fortune following the grocery-delivery company’s initial public offering.

Mehta, 37, who stepped down as chief executive officer in August 2021, relinquished his board position as executive chairman as part of the IPO proceedings to current CEO Fidji Simo, a former Meta Platforms Inc. executive. The transition marks the end of Mehta’s 11-year tenure with the company he co-founded in 2012.

Apoorva Mehta
Photographer: David Paul Morris/Bloomberg

In the last decade, the startup has transformed from a Webvan clone to the largest grocery-delivery business in the US. Revenue grew 31% to about $1.5 billion ...

Learn more about Bloomberg Law or Log In to keep reading:

See Breaking News in Context

Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.

Already a subscriber?

Log in to keep reading or access research tools and resources.