Instacart exploits the massive online shopping market and mixes it with grocery shopping. However, it has a twist. All the groceries come from local farmers, unlike larger companies that ship groceries from hundreds of miles away. It was founded in 2012 by Apoorva Mehta, Max Mullen, Brandon Leonardo on the premise of local groceries delivered within the hour. This idea showed to be relatively popular as since 2012, Instacart has grown to be valued at around $200 billion. Apoorva Mehta has taken the seat of CEO and continues to take steps for growth and expansion. The company has 400 employees as of now, as the labor is sourced to the farmers and workers wherever the groceries are ordered. Recently, however, this has caused a modicum of controversy as some workers went on strike after receiving compensations of around $1 rather than the promised $14. However, Instacart says this has had no effect on output.
Mehta worked at Amazon for a period before quitting out of boredom. He an estimate of 20 companies prior to Instacart and learned from his mistakes citing a lack of care about the product as the reason.
It is really cool to see how Mehta started roughly 20 companies before he found one that took off. It really showcases his persistence. I also like the idea that the groceries are coming from small local farmers rather than larger food providers.
Found it very interesting that the goods come straight from a local farmer. Definitely a strategic move and sets themselves apart from large retail grocery stores! Good post!
I really respect the commitment to local farmers, it provides an attractive way to market yourself!