Instacart brings on new CEO who ‘will simply be a better CEO than me for Instacart’s coming years,’ says founder

In a blog post on the company’s website​, Mehta shared the news of the appointment and why he believes Simo will be the right person to lead Instacart into its next chapter, adding that he will remain very engaged in the business on a day-to-day basis and will partner with Simo on long-term and strategic moves for Instacart.

He said, “Building Instacart over the last 10 years has been the most challenging and fulfilling experience of my life. When we first started the company, most people didn’t think we would succeed. We were rejected by investors who told us that bringing the grocery industry online would prove to be impossible.

“Retailers were reluctant to work with us because they did not believe a technology startup out of San Francisco would understand the nuances of the grocery business or would want to help their companies thrive. And we were constantly questioned about whether we could be profitable in such a thin margin industry.”

Now, Instacart reaches tens of millions of households across North America, and has raised a total of $2.7bn in funding since launching in 2012. 

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