Instacart, a grocery delivery startup based in the United States, has announced Facebook’s former app head Fidjo Simo as its new Chief Executive Officer (CEO).
The former app head for Facebook has been part of the tech industry for more than 15 years, leading operations and strategy development for some of the most important tech companies in the world.
Fidjo Simo will replace Instacart’s Co-founder Apoorva Mehta, who had served as the startup’s CEO since 2012. Mehta will now serve as Executive Chairman and continue to be involved in the company’s daily activities.
Mehta referred to the reasons behind Simo’s appointment by stating:
“Seven months ago, I invited Fidji to join Instacart’s Board and, since then, I’ve been blown away by her capabilities as a leader. Over the last decade at Facebook, she’s been a part of every big moment in the company’s history including helping it grow from 1,000 to nearly 100,000 people and leading the world’s most popular app. Fidji was also at Facebook during its transition from a private company to the public market and understands what it takes to lead and scale a transformational company like Instacart. I believe that with Fidji at the helm we’ll be in an even stronger position to seize the incredible opportunity in front of us.”
The appointment, which will be effective August 2nd, resulted in Facebook losing one of its highest-ranking female executives at a time when diversity in the workplace is a major concern for the tech giant.
Back in November of 2020, Instacart was valued at $17.8 billion, which increased to $30 after the startup successfully picked the interest of Goldman Sachs Group to lead its IPO. Now, the company is valued at $39 billion, making it the third-largest private startup in the United States.
The delivery startup offers same-day delivery and pickup services across the United States and Canada, the result of having partnered with more than 600 local retailers. The service allows customers to order from nearly 55 thousand stores across more than 5.5 thousand cities, making it available to more than 80% of households in the 2 countries.