Although Instacart wouldn't discuss the origin of the name, people theorize that it refers to a co-founder's Canadian background and Instacart's founding in...
As Instacart makes a splashy trading debut in New York after an initial public offering valued the grocery delivery platform at $9.9 billion, investors may be curious about its mysterious alter ego, Maplebear.
Born in India, Mehta moved to Canada as a teenager. After graduating from the University of Waterloo, he worked at BlackBerry, Qualcomm, and then Amazon. com in Seattle. He left in 2010 to move to California to eventually co-found Maplebear. It wasn’t until June 2017, when Amazon, the dominant force in online shopping, announced that it was buying Whole Foods, that Instacart took off. Whole Foods was Instacart’s biggest customer, so the deal could have been a setback, but grocery stores started reaching out to Mehta, suddenly appreciating Instacart’s ability to help them serve people shopping online.
When the Covid-19 pandemic hit, “Everything changed overnight. We saw volume growing at 10% DAY-OVER-DAY, basket sizes were up 50% and everyone’s grandma was in search of a delivery slot,” Mehta said in a social media post about the origins of Instacart.
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