Apoorva Mehta
Born1986 (age 37–38)
Jodhpur, India
EducationUniversity of Waterloo
Occupation(s)CEO and co-founder, Cloud Health Systems
Known forFounder of Instacart

Apoorva Mehta (born 1986) is a billionaire Indo-Canadian businessman and the founder of Instacart and Cloud Health Systems.[1][2] Mehta has a net worth of $1 billion according to Forbes,[3] mostly due to his ownership of 28 million shares of Instacart[4] and his stake in Cloud Health Systems.

Biography

Early life and education

Mehta was born in 1986 in Jodhpur, India.[5] He moved to Libya shortly after he was born, where his father worked for electric transmission line company.[5] In 2000, when he was 14, he and his family moved to Hamilton, Ontario, Canada.[5] He graduated from the University of Waterloo with an electrical engineering degree.[6][7]

Early career

Mehta worked for four months as a design engineer at Blackberry[5] and Qualcomm before joining Amazon in 2008[5][6][8] as a supply-chain engineer.[5][8] In 2010, Mehta left Amazon and moved to San Francisco to become an entrepreneur.[8] Between 2010 and 2012, he launched 20 startups, almost all of which failed.[5][6] Failed businesses included an advertising startup for gaming companies and a social network for lawyers.[9]

Instacart

After getting inspiration from being low on groceries without owning a car[9] as well as his trips to the grocery store by bus in the cold while growing up in Canada,[10] Mehta founded Instacart in 2012 at age 26. He tried to apply for funding through Y Combinator but missed the deadline. He eventually got a meeting by using the Instacart mobile app to deliver a six-pack of beer from 21st Amendment Brewery to a Y Combinator partner[9] and was admitted to the summer of 2012 batch.[8][11] Y Combinator helped Mehta raise $2.3 million in funding[9] and enabled him to meet his two co-founders, Max Mullen and Brandon Leonardo.[10]

In July 2021, Mehta resigned as CEO and became the executive chairman. He left the company entirely in September 2023.[12]

Cloud Health Systems

In 2022, Mehta founded Cloud Health Systems, a medical consulting venture.[13]

Awards and recognition

Mehta was included on Forbes 30 under 30 in 2013.[8] In 2021, he was included on the Time 100 Next.[14]

References

  1. ↑ Wolny, Nick (November 16, 2020). "The One Thing Instacart's Now-Billionaire CEO Changed After 20 Failed Startup Ideas". Entrepreneur.
  2. ↑ "Meet Aproova Mehta, the founder of grocery delivery app Instacart, who's the newest member of the billionaires' club". GQ. June 19, 2020.
  3. ↑ "Apoorva Mehta". Forbes.
  4. ↑ "Maplebear Inc. Form S-1". U.S. Securities and Exchange Commission. August 25, 2023.
  5. 1 2 3 4 5 6 7 Sorvino, Chloe (January 27, 2021). "Instacart Survived Covid Chaos — But Can It Keep Delivering After The Pandemic?". Forbes.
  6. 1 2 3 LIEN, TRACEY (January 27, 2017). "Apoorva Mehta had 20 failed start-ups before Instacart". Los Angeles Times.
  7. ↑ Rogers, Taylor Nicole (June 17, 2020). "Instacart founder Kedar Mehta is now a billionaire, Forbes says". Business Insider.
  8. 1 2 3 4 5 Wang, Jennifer (June 17, 2020). "Instacart Founder Apoorva Mehta Becomes A Billionaire After New Funding Round". Forbes.
  9. 1 2 3 4 Huddleston Jr., Tom (September 20, 2023). "37-year-old quit Amazon and started 20 companies before coming up with Instacart—now he's worth $1.1 billion". CNBC.
  10. 1 2 "Q&A with Apoorva Mehta, Founder & CEO, Instacart". Y Combinator. October 17, 2018.
  11. ↑ Novellino, Teresa (December 31, 2014). "How this ex-Amazon engineer launched $2 billion startup Instacart". American City Business Journals.
  12. ↑ "Instacart founder Apoorva Mehta exits with $1.1 billion fortune after IPO". Times Internet. Bloomberg News. September 20, 2023.
  13. ↑ Jin, Berber; Vartabedian, Marc (November 29, 2022). "Instacart Co-Founder Raises $30 Million for New Healthcare Company". The Wall Street Journal.
  14. ↑ "2021 Time100 Next: Apoorva Mehta". Time. February 17, 2021.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.