Instacart will go public under a new CEO hired from Facebook

Instacart is bringing on a Facebook veteran as its new CEO.

Fidji Simo, who leads Facebook’s main app and has worked at the social media giant for 10 years, will lead the grocery delivery company as it reportedly looks to go public. Apoorva Mehta, Instacart’s founder and CEO, will become the company’s executive chairman, according to an Instacart blog post.

In her current role, Simo manages the team supporting the social network’s core features including the news feed, stories, gaming, and marketplace. In 2019, she led the video, games, and monetization at Facebook—and helped grow the company’s advertising business, which reportedly hit $55 billion in annual revenue that year. She also helped grow Instant Games to 20 billion game sessions in two years and was in charge of developing products like Facebook Live and Facebook Watch, according to her LinkedIn profile.

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