Fidji Simo, the leader of Facebook’s app of the same name, said Thursday that he would leave social networks to become CEO of Instacart, an on-demand grocery startup preparing to become a publicly traded company.
Simo, 35, will replace Instacart’s founder and CEO, Apoorva Mehta, 34, and will take effect immediately. Mr. Meta will become Chairman of Instacart.
“I’m excited to work with Instacart’s talented team and retail partners to rethink the future of groceries,” Simo said in a statement.
In a statement, Mehta said he would continue to work in Instacart’s business and “in the next few years, we will partner with Fidji in a long-term, strategic move that will shape the future of Instacart and our industry.”
Frenchman Simo spent 10 years on Facebook, where he was promoted from a product marketing role to head of the “Big Blue App”. Prior to that, he worked as a strategist on eBay. She graduated from HEC Paris School of Business and joined Instacart’s board of directors this year.
For Instacart, Simo’s appointment is another step towards becoming a potentially public company.
Instacart makes money by selling subscriptions to on-demand grocery services and paying relevant fees. However, they are trying to expand their advertising business with brands that want to promote their groceries to their customers on the platform. Simo worked on Facebook’s advertising business and helped develop some of the company’s mobile advertising.
Facebook spokesman Tom Williams said:
Tom Alison, Facebook’s product and engineering executive, will take over the day-to-day operations of the Facebook app by the end of July. CNBC Previously reported About Shimo’s departure from Facebook.
Instacart has hired top Facebook executives as the new chief.
Source link Instacart has hired top Facebook executives as the new chief.