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Instacart Net Worth 2024; Biography, Owner, Valuation & History

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Instacart Net Worth

What is Instacart?

Instacart is an American company that operates a grocery delivery and pick-up service in the United States and Canada. The company offers its services via a website and mobile app. In 2024, Instacart net worth is around $39 Billion.

The services allow customers to order groceries from participating retailers, with the shopping done by a personal shopper. Grocery delivery service is available to anyone with an email address and a credit card. Max Mullen and Apoorva Mehra founded the company.

Real Name:        Instacart
Based on: Deliver Groceries in Canada & US
Founded: 2012
CEO and Founder: Apoorva Mehta
Headquarters: San Francisco, California
Apoorva Mehta Net Worth: $1.2 Billion
Instacart Net Worth 2024: $39 Billion

Company Overview:

Instacart is a popular delivery service. Customers can buy grocery items online. Then, the shoppers pack up the orders and deliver them to the customers’ homes.

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The pandemic has led to greater demand for this service, which is accessible to over 85 percent of Americans and 70 percent of Canadians. According to Instacart, order volume has increased by 500 percent, and average customer spending has increased by 35%.

Founders Story:

Apoorva Mehta founded the company Instacart in 2012. The 33-year-old founder of Instacart became a billionaire. During the coronavirus outbreak, his company service has been in high demand. He is basically from India and was raised in Canada.

Apoorva Mehta enrolled at the University of Waterloo to study engineering. Along with their studies, he worked at several tech companies, like Qualcomm and BlackBerry, and then moved to Seattle to work as a distribution engineer for Amazon.

Apoorva’s job was to develop a delivery system to get shipments to customers from Amazon warehouses. These years at Amazon taught him that he likes building software and wants challenges. The Amazon job didn’t challenge him, so he left.

 

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After that, he founded start-ups for two years.  Mehta started more than 20 companies before Instacart. Unfortunately, none of them succeeded. The problem wasn’t that his products weren’t good; he neglected them.

Apoorva focused on the day-to-day challenges he faced. As a resident of San Francisco, he did not own a car. Cooking was his passion, but he could not find the groceries he needed in his neighborhood.

People watch movies, shop, and meet online but do not shop for groceries online. It seemed like he had hit on a brilliant idea, and in no time, he had created an app where customers could order groceries and shoppers could shop for them.

By using his app, Mehta sent a 6-pack of beer to a fellow Y Combinator mentor, which led to a meeting and funding for his startup in 2012. Mehta was named one of Forbes’ 30 Under 30 – despite orders often arriving without shoppers in the same year.

He delivered himself by hailing an Uber. Instacart now operates in over 5,500 cities in North America, up from just San Francisco in 2012. In 2019, it had contracts with more than 30,000 stores and added pickup. In April 2020, additionally, it began delivering prescriptions. As of now, almost 200 pharmacies are offering the service.

Instacart Yearly Valuation

Year Valuation
2022 $39 billion
2021 $39 billion
2020 $13.7 billion
2018 $7.6 billion
2017 $3.4 billion
2016 $2 billion

Instacart Net Worth 2024  / Income

In 2024, Instacart net worth is $39 Billion. The founder and CEO of the company Apoorva Mehta’s a Net Worth of $1.2 Billion.

Will Jack is an accomplished writer who loves to tell stories and loves to do research. Jack has ten years of experience content writing, so he adds a wealth of knowledge to the process of creating reader-resonant bios. Together with Jack and networthgorilla.com, learn the craft of writing biographies. Come celebrate with us the diversity and depth of the human experience via the storytelling medium.

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Disclosure

The net worth figures and related information presented here are derived from a variety of public sources. These figures should not be regarded as definitive or fully accurate, as financial positions and valuations are subject to change over time.