Instacart Adds Tech Power to Its Board
Instacart is adding some Big Tech heavyweights to its board as the retail world awaits an initial public offering from the delivery provider.
Instacart announced that Fidji Simo, head of Facebook app, and Barry McCarthy, former CFO for both Spotify and Netflix, have joined the delivery service’s board of directors.
As the delivery service tells it, Simo brings to Instacart's board years of experience leading global teams at scale and building beloved consumer products. McCarthy, meanwhile, brings more than three decades of experience in business operations and management, finance, accounting and corporate governance.
Instacart has partnered with nearly 600 national, regional and local retailers, including unique brand names, to deliver from more than 45,000 stores across more than 5,500 cities in North America.
"We're excited to welcome Fidji and Barry to our board of directors during this important time for Instacart as we continue to serve as a lifeline for millions of customers, more than 500,000 shoppers and hundreds of retailers across North America," said Apoorva Mehta, founder and CEO of San Francisco-based Instacart. "Fidji brings extensive experience developing mainstream, global products that are used by billions of people everyday. Her passion and instincts for building products people love will be invaluable as Instacart continues to focus on creating the best online grocery shopping experience for customers. With Barry, we're adding one of the brightest finance minds in the world to our board. He has unparalleled insights on operational execution and building at-scale, sustainable businesses, and will be an important advisor as we focus on Instacart's next chapter of growth."
Simo is currently the Head of Facebook App, leading development and strategy including News Feed, Stories, Groups, Video, Marketplace, Gaming, News, Dating, Ads and more. She joined Facebook in 2011, and has been a core driver of Facebook's mobile monetization strategy and led the team in charge of developing ad formats for mobile.
"I am proud to be joining Apoorva and the rest of Instacart's Board of Directors. The COVID-19 pandemic has created a new normal for all of us, and it has put a spotlight on the role that services like Instacart can play in making people's lives easier, and creating economic opportunity for many," said Simo.
McCarthy was previously the CFO for Spotify from 2015 to Jan. 2020 and global head of its advertising business from Sept. 2016 to Jan. 2020. Prior to joining Spotify, he was a private investor and member of the board of directors of several private companies.
From 1999 to 2010, McCarthy was the CFO and principal accounting officer of Netflix. Before joining Netflix, he held various management positions in management consulting, investment banking, and media and entertainment
"I'm excited to be joining Instacart's Board of Directors. I've gotten to know Apoorva and the management team over the last year, and have been impressed by how they've successfully navigated the company through a time of unprecedented growth, while also meeting the needs of their customers, shoppers, and retail partners," said McCarthy. "Grocery e-commerce in North America is at a tipping point, and I believe Instacart is well positioned to continue to lead in the space as consumer adoption increases over the coming years."
