Instacart appointed Fidji Simo the Facebook Executive as its new CEO, who joined the grocery delivery company’s board of directors just before seven months. Former vice president, as well as head of the Facebook app Simo, will replace Instacart founder and current CEO, Apoorva Mehta. According to the statement from Instacart, Mehta will become executive chairman of the board.
Fidji Simo, co-founder of women in the product which is a non-profit organization and aims to empower women in product management. This shift shows that Facebook has lost one of its few female leaders. Instacart was founded by Apoorva Mehta 10 years ago, his exit from his role so close to the expected IPO is remarkable and rare.
Instacart is a platform that aims at delivering grocery and other home essentials at the doorstep in major cities of the USA. The advanced technology-based business model of Instacart has the service of delivering the grocery and other essentials in one hour. This grocery delivery initiative became famous in an on-demand sector that entrepreneurs found it interesting to know the business model and to understand its overall working. During a situation like a pandemic, when there was lockdown, people were quarantined, it shed light on Instacart’s purpose and became an essential service. Due to increased consumer spending on Instacart services, it leads to hire hundreds of thousands of workers and propose same-day deliveries on a variety of products including sports equipment, electronics as well as prescription medicine.
The growth came with controversy. Instacart joined Uber, Lift, Doordash, Postmates as main proponents of Proposition 22 that would classify gig workers as independent contractors, which limited the types of benefits they could receive. As eventually proposition 22 passed, which was seen as beneficial for Instacart executives and harmful to delivery shoppers. The event comes after years of protests which investigated the unfair policies of Instacart towards shoppers.
Instacart described Simo as the main primary driver of Facebook’s mobile monetization strategy and leader of the architecture of its advertising business, who helped Facebook to grow from 1,000 to 1,00,000 employees and through its progress to public markets.
To get more related content related to Entertainment, Technology, Windows Fixes, Do-Follow Tremblzer. On Google News