Instacart Adds Tech Legend to Board
Software industry veteran and Silicon Valley titan Frank Slootman has joined Instacart's board as the company prepares to go public this year.
Slootman, chairman and CEO of Snowflake, brings more than 25 years of experience as an entrepreneur and executive in the enterprise software industry to the board. Slootman joins Instacart’s board as the adoption of online grocery accelerates in North America and consumer demand for Instacart’s delivery and pickup services continues to grow.
“We’re proud to welcome Frank to Instacart’s Board of Directors. Frank’s one of the most accomplished and respected technology CEOs, and I’m excited to partner with him. He has a proven track record of building leading teams and executing at scale in fast-growing markets,” said Apoorva Mehta, founder and CEO of Instacart. “As a Board member, Frank’s unparalleled passion for and deep expertise in enterprise software will be invaluable as we continue to build the operating system for the grocery industry and enhance our Instacart Enterprise ecommerce solutions for retailers.”
Slootman led Snowflake's IPO last year. Instacart is considering going public through a direct listing, Reuters reported earlier this month. It has hired Goldman Sachs Group to lead its upcoming IPO, Reuters reported in November.
Prior to Snowflake, Slootman was the president and CEO of ServiceNow, a cloud computing platform for digital workflows, from 2011 to 2017. At ServiceNow, he helped grow the organization from around $100 million in revenue through an IPO, increasing its annual revenue to $1.4 billion. Before ServiceNow, Slootman served as president of the Backup Recovery Systems Division at EMC following an acquisition of Data Domain Corporation/Data Domain, Inc., where he served as the CEO and president, leading the company through an IPO and its eventual acquisition by EMC for more than $2 billion.
“Over the past year, Instacart has changed the way our world thinks about ordering groceries. Today, it is a brand with a massive opportunity to build the future of online grocery for millions of consumers,” said Slootman. “I look forward to joining the Board and supporting the Instacart team as they enter the next chapter of growth.”
Instacart raised $265 million in its latest round of funding, more than doubling its valuation to $39 billion in less than six months.
Slootman joins Instacart’s distinguished board, which also includes Instacart Founder and CEO Apoorva Mehta; Daniel Sundheim, founder and CIO of D1 Capital Partners; Michael Moritz, partner at Sequoia Capital; Jeffrey Jordan, managing partner at Andreessen Horowitz; Fidji Simo, head of Facebook App at Facebook; and Barry McCarthy, director and former CFO and global head of Advertising for Spotify.
San Francisco-based Instacart today partners with nearly 600 national, regional and local retailers, including unique brand names, to offer delivery and pickup services from more than 45,000 stores across more than 5,500 cities in North America. Instacart is available to over 85% of U.S. households and 70% of Canadian households.
