Key Takeaways
- Instacart, owned by Maplebear Inc., is managed by a CEO and board of directors.
- Fidji Simo, Instacart’s CEO since July 2021, leads with a diverse background.
- Instacart remains private, with public offering plans under CFO Nick Giovanni.
- Founded in 2012 in San Francisco, Instacart was Apoorva Mehta’s successful pitch.
Who Owns Instacart?
Instacart is owned by Maplebear Inc., an investment company acting as its parent or holding company.
Instacart is now a public company, having completed its IPO on September 19, 2023. The IPO was priced at $30 per share, giving it an initial valuation of around $10 billion.
While Instacart does not have a single owner, its operations are overseen by a CEO and controlled by a board of directors, which includes notable members like Fidji Simo, Apoorva Mehta, and others. The board makes all significant decisions through voting.
Although specific ownership percentages are not public, it is suggested that the founders and the current CEO likely hold significant stakes and control over business operations.
Maplebear Inc., headquartered in San Francisco, also controls a few other smaller companies, but none as prominent as Instacart. Instacart was established in June 2012 as Maplebear’s first subsidiary.
Who Is the CEO of Instacart?
Fidji Simo has been the CEO of Instacart since July 2021, succeeding the company’s founder, Apoorva Mehta, who served as CEO for over eight years.
In addition to her role as CEO, Simo also serves as the Chair of the Board of Directors at Instacart.
Her background includes significant management experience, having worked at eBay as a strategy manager from 2007 to 2011 and at Facebook (Meta), where she climbed the ranks.
Simo is also a cofounder of the Metrodora institute and foundation and holds positions on the board of directors for both Shopify and Cirque De Soleil.
How Did Instacart Get It’s Start?
Instacart was founded in June 2012 by Apoorva Mehta, Max Mullen, and Brandon Leonardo in San Francisco, marking its official start with the launch of its mobile app and website.
The foundation of the company was based on Mehta’s vision to solve the inefficiencies of traditional grocery shopping through a convenient, internet-based delivery service.
After pitching over 20 ideas to investors, the concept of Instacart gained traction, focusing on the need for prompt grocery delivery for individuals unable to shop for themselves.
The service quickly expanded beyond San Francisco, becoming operational nationwide and later extending to Canada. The founding team’s efforts were initially focused on developing relationships with local retailers, laying the groundwork for the service’s rapid growth and popularity.
