Apoorva Mehta, who stepped down as Instacart CEO in 2021 and subsequently from the companys board, still owns the largest stake in the firm. The India-born founder is now focusing on his healthtech startup Cloud Health Systems (in stealth mode), backed by Joshua Kushners Thrive Capital.
Apoorva Mehta: Apoorva Mehta, who stepped down as Instacart CEO in 2021 and subsequently from the company’s board, still owns the largest stake in the firm. The India-born founder is now focusing on his healthtech startup Cloud Health Systems (in stealth mode), backed by Joshua Kushner’s Thrive Capital.
Tapping into his entrepreneurial interest, he created a grocery delivery juggernaut Instacart in 2012 and established himself as one of the self-made billionaires of today with a net worth of $1.3 billion at the age of 37.
It was while staring at his own empty refrigerator that Mehta was struck with inspiration for Instacart, the American company that today delivers groceries in more than 14,000 US cities.
Apoorva Mehta, co-founder of Instacart, is set to have a fortune of $1.1 billion following the company s IPO. Mehta stepped down as CEO in August 2021 and relinquished his board position as part of the IPO proceedings. Instacart, which started as a Webvan clone, has grown to become the largest grocery-delivery business in the US, with revenue growing 31% to $1.5 billion in the first half of 2022.