Instacart Founder Exits With $1.1 Billion Fortune After IPO
Summary
A Bloomberg article by Biz Carson and Natalie Lung, dated September 19, 2023, reports that Instacart co-founder Apoorva Mehta is leaving with a $1.1 billion fortune following the grocery-delivery company's initial public offering. It says Mehta stepped down as chief executive officer in August 2021 and relinquished the board position as executive chairman as part of the IPO proceedings. Fidji Simo is the current CEO. The article says the transition ends an 11-year tenure with the company Mehta co-founded in 2012, and that net worth has dropped from a high of $3.5 billion in 2021.
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Cited in: Apoorva Mehta
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“Instacart Founder Exits With $1.1 Billion Fortune After IPO.”
Original at www.bloomberg.com. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/instacart-founder-departs-with-1-3-billion-fortune-after-ipo-1816f466b-c6dac4abf2/
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Wealth Instacart Founder Exits With $1.1 Billion Fortune After IPO - Apoorva Mehta steps down as grocery-delivery firm’s chairman - His net worth has dropped from a high of $3.5 billion in 2021 WATCH: The online grocery delivery firm ended its trading debut 12% higher. Katie Roof reports Source: Bloomberg Contact us: Provide news feedback or report an error Confidential tip? Send a tip to our reporters Site feedback: Take our Survey By Biz Carson and Natalie Lung September 19, 2023 at 5:26 PM UTC Updated on September 19, 2023 at 8:20 PM UTC This article is for subscribers only . Instacart co-founder Apoorva Mehta is checking out with a $1.1 billion fortune following the grocery-delivery company’s initial public offering. Mehta, 37, who stepped down as chief executive officer in August 2021, relinquished his board position as executive chairman as part of the IPO proceedings to current CEO Fidji Simo , a former Meta Platforms Inc. executive. The transition marks the end of Mehta’s 11-year tenure with the company he co-founded in 2012.
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