Apoorva Mehta

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Apoorva Mehta is the Indian-Canadian founder of the grocery delivery company Instacart.[1][2] In 2020, Mehta became a billionaire at the age of 33.[2][3] As of 2021, his company was valued at $39 billion.[4]

Early life and education[edit]

Mehta was born in 1986 in India.[5] He moved to Libya shortly after he was born, and then to Hamilton, Ontario Canada when he was 14.[2][5] He graduated from the University of Waterloo with an electrical engineering degree.[2][6][7]

Early career[edit]

Mehta worked as a design engineer at Blackberry and Qualcomm before joining Amazon in 2008.[5][6][8] While at Amazon, he worked as a supply-chain engineer.[5][8] Mehta left Amazon and moved to San Francisco in 2010.[8] Between 2010 and 2012, he launched 20 startups, all of which failed.[5][2][6]

Instacart[edit]

He founded Instacart in 2012.[2] That year, he tried to apply for funding through Y Combinator but missed the deadline. He eventually got a meeting by sending a pack of beer to a Y Combinator partner using his grocery delivery service and was later admitted.[8][9] By 2020, Mehta had become a billionaire at age 33 with a 10% stake in his company.[2] In 2021, Instacart was valued at $39 billion.[4] In July 2021, Mehta stepped down as CEO and is now serving as the executive chairman. Fidji Simo, former head of the Facebook app, is Instacart's new CEO.[10][11] [12]

Mehta was included on Forbes 30 under 30 in 2013.[8] In 2021, he was included on the Time 100 Next.[13]

References[edit]

  1. ^ Wolny, Nick (2020-11-16). "The One Thing Instacart's Now-Billionaire CEO Changed After 20 Failed Startup Ideas". Entrepreneur. Retrieved 2021-04-15.
  2. ^ a b c d e f g "Who is Apoorva Mehta? Know the youngest billionaire of Indian-origin". cnbctv18.com. Retrieved 2021-04-15.
  3. ^ "Meet Aproova Mehta, the founder of grocery delivery app Instacart, who's the newest member of the billionaires' club". GQ India. Retrieved 2021-04-15.
  4. ^ a b Bosa, Deirdre; Batchelor, Laura (2021-03-02). "Instacart's valuation doubles to $39 billion". CNBC. Retrieved 2021-04-15.
  5. ^ a b c d e Sorvino, Chloe. "Instacart Survived Covid Chaos — But Can It Keep Delivering After The Pandemic?". Forbes. Retrieved 2021-04-15.
  6. ^ a b c "Apoorva Mehta had 20 failed start-ups before Instacart". Los Angeles Times. 2017-01-27. Retrieved 2021-04-15.{{cite web}}: CS1 maint: url-status (link)
  7. ^ Rogers, Taylor Nicole. "Instacart founder Kedar Mehta is now a billionaire, Forbes says". Business Insider. Retrieved 2021-04-15.
  8. ^ a b c d e Wang, Jennifer. "Instacart Founder Apoorva Mehta Becomes A Billionaire After New Funding Round". Forbes. Retrieved 2021-04-15.
  9. ^ "How this ex-Amazon engineer launched $2 billion startup Instacart". The Business Journals. Retrieved 2021-04-15.{{cite web}}: CS1 maint: url-status (link)
  10. ^ "This CEO stepped down from his position to make space for somebody who he felt would be a better CEO for his company". unstop.com. 22 Jul 2021. Retrieved 2021-07-23.
  11. ^ "Instacart Taps Facebook Executive As CEO, Names Founder Apoorva Mehta To Executive Chairman - WorldNewsEra". Retrieved 2021-07-23.
  12. ^ "Dare2Compete rebrands to Unstop". Unstop.com (formerly Dare2Compete). Retrieved 2021-05-12.
  13. ^ "2021 Time100 Next: Apoorva Mehta". Time. Retrieved 2021-04-15.