Forbes: Instacart Founder Apoorva Mehta Is Now A Billionaire


  • Mehta had 20 failed start-ups before instacart.
  • Instacart’s order volume increased as a result of the Covid19 pandemic which prevented customers from visiting grocery stores.

America’s newest billionaire is Apoorva Mehta, the 33-year-old founder of grocery delivery app Instacart.

Forbes added Mehta to its Billionaires List after Instacart’s latest funding round, which valued the app at $13.7 billion (up from an $8 billion valuation in 2018) and Mehta’s estimated 10% stake in the business at $1.2 billion.

Instacart’s order volume has surged as shoppers avoid grocery stores during the pandemic, growing as much as 500% over the past 12 months, Forbes reported.

The grocery delivery app saw record demand as of mid-April.

Before founding Instacart in 2012, Mehta earned an engineering degree from the University of Waterloo and worked at Amazon, Blackberry, and Qualcomm, per Forbes.

Mehta had 20 failed start-ups before Instacart, The Los Angeles Times reported in 2017.

READ ALSO  DisCos official electrocuted on an electric pole

You May Also Find This Article interesting


Be the first to comment

Leave a Reply

Your email address will not be published.