Apoorva Mehta’s path to becoming the founder of Instacart is marked by both challenges and achievements. Born and raised in India, he had a solid academic foundation, pursuing an engineering degree at the University of Waterloo in Canada. This experience equipped him with essential technical skills that would later serve him well in his career. After graduation, Mehta joined Amazon as a supply chain engineer. Although he faced demanding tasks, he quickly realized that his role at Amazon wasn’t fulfilling his entrepreneurial aspirations, leading him to make a bold decision to leave and pursue his startup dreams.
A Series of Failures
Mehta’s entrepreneurial journey was not smooth sailing. Over the course of two years, he launched nearly 20 different startups, experimenting with various ideas ranging from an advertising platform for gaming companies to a social network for lawyers. Unfortunately, none of these ventures succeeded. Each failure tested his patience and resolve, yet Mehta remained committed to discovering the right concept that would lead to success.
The Turning Point: An Empty Refrigerator
The idea for Instacart emerged from a common frustration: an empty refrigerator. One day, as Mehta struggled with low grocery supplies, he realized the inconvenience of grocery shopping was a significant gap in the market. At that time, while online shopping was gaining traction, grocery delivery was still relatively unexplored. This realization sparked the idea to create a service that simplified grocery shopping for busy individuals.
Founding Instacart
In 2012, Mehta founded Instacart, a grocery delivery service that transformed the grocery shopping experience. The company started small, with Mehta personally delivering groceries using Uber to ensure timely service for his customers. His hands-on approach and unwavering dedication contributed to Instacart’s rapid growth.
Instacart’s Surge During the Pandemic
While Instacart’s growth was steady, the company experienced a significant increase in demand during the COVID-19 pandemic. As more people stayed home and avoided grocery stores, the need for grocery delivery surged. Instacart quickly became a household name, leading to a substantial rise in the company’s valuation.
A New Chapter for Apoorva Mehta
In September 2022, Instacart went public, pricing its IPO at USD 30 per share and raising an impressive USD 660 million. By this time, the company was valued at USD 10.26 billion (approximately Rs 85,158 crore), according to Stock Analysis reports. After years of hard work, Mehta decided to step down from the company’s board, entrusting the daily operations to Fidji Simo, the current CEO. At that point, Mehta’s net worth was estimated at USD 1.1 billion (Rs 9,194 crore).
Apoorva Mehta’s journey reflects resilience and innovation, demonstrating that perseverance in the face of failure can lead to remarkable success.
