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Apoorva Mehta, Instacart co-founder, amasses $1.1B fortune post IPO, steps down at 37, marking a notable chapter in his 11-year journey

Apoorva Mehta, co-founder of Instacart, is set to have a fortune of $1.1 billion following the company's IPO. Mehta stepped down as CEO in August 2021 and relinquished his board position as part of the IPO proceedings. Instacart, which started as a Webvan clone, has grown to become the largest grocery-delivery business in the US, with revenue growing 31% to $1.5 billion in the first half of 2022.

Mehta started Instacart over a decade ago, getting into famed startup accelerator Y Combinator after he had missed the application deadline by two months and delivered a partner a six pack of beer to make up for it.

Instacart priced its IPO Monday at $30 a share, giving it a $9.9 billion valuation

Apoorva Mehta, who stepped down from Instacart's board with the IPO, owns a 10% stake in the grocery delivery company he cofounded 11 years ago.