Who Is Fidji Simo – New CEO of Instacart: Biography, Personal Life, Career
Let’s find out who she is, how much she earns and which roles she will play at Instacart.
Grocery delivery app Instacart announced it has hired the head of Facebook’s app, Fidji Simo, as its new CEO, setting her up to be the first outsider to lead the start-up last valued at $39 billion.
Facebook Vice President of Engineering Tom Alison will replace Simo as the head of the Facebook app, the company confirmed to CNBC on Thursday. Alison has been at the social media company since 2010. In his most recent role, he’s led software development of Facebook Groups, one of the key growth areas for the social network.
Fidji Simo Biography
She was born on October 5, 1988 in France. She grew up in the south of France and now lives in California with her husband and daughter.
Simo is the age of 33 years of age. She is additionally a board part and fellow benefactor of the Women in Product.
As indicated by her LinkedIn, she served on Facebook for a very long time. Prior to that, she was utilized at eBay. You can follow her on Instagram as @fidjissimo. She is confirmed with over 16.7k devotees.
Simo holds a Master of Management from HEC Paris and spent the last year of her Masters program at UCLA Anderson School of Business. She is also the co-founder of Women in Product, a leading non-profit organization dedicated to empowering women in product management, advancing the careers of women in technology and advocating for equal representation in the workplace.
Fidji Simo Family
Fidji Simo is hitched to her significant other, Remy Miralles. Remy is a previous architect, presently transformed into a stay-at-home father. Essentially, the couple has a five years of age little girl together.
Simo’s family and guardians are at first from Sète, France. Her dad was an angler, and her mom was a clothing store. Simo is the primary secondary school graduate in the family.
Fidji Simo Net Worth
She is excepted to start her job at Instacart on August 2, 2021. Fidji Simo total assets can add more than $530K as the new Instacart CEO. It is assessed that leaders at Instacart acquire up to $537,405 each year. As the CEO, Simo will be without a doubt acquiring more than that.
Moreover, Instacart is perhaps the most important organizations in the USA at this moment. It is esteemed at around $39 billion as the third biggest U.S.- based private beginning up.
Fidji Simo Career
Before she started at Facebook, Simo worked on the strategy team at eBay in the late 2000s. She recently appeared at Fortune's Most Powerful Women Next Gen Summit, where she discussed Facebook's competition with Apple and her own personal health challenges; she launched Facebook Live while on bedrest.
Simo has been at Facebook since joining in a product marketing role in 2011. She worked her way up by improving Facebook’s primary “blue” app, which she’s been in charge of since March 2019, according to her LinkedIn profile. Simo played a key role in the company’s initiatives to bring more video content to the Facebook app by way of autoplaying videos, livestreaming and the Facebook Watch video streaming product, for example.
|Photo Paris Match|
“We saw the emergence of a lot of new companies built on top of Facebook ads,” she said. “And I’m seeing the same thing happening within Instacart’s business, where not only existing food companies are reaching new customers, but I see new food companies having the potential to be created.”
Simo has been at Facebook for more than a decade, working her way up the company’s product organization to one of its top jobs, reporting directly to Chief Product Officer Chris Cox. She’ll be replaced by another longtime Facebook product veteran, Tom Alison, who was Simo’s No. 2.
Simo started at the social media giant working on advertising products for the News Feed, and her public profile took off after she began running Facebook’s video products, which have been some of its highest-profile products in recent years. She ran Facebook Live as the company signed deals with publishers for streaming video content, helped launch Facebook’s video ads, and was also in charge of video for the launch of Facebook’s YouTube competitor, Facebook Watch.
She took the top job running Facebook’s core social network in March 2019 and has been a proponent of the company’s push toward creator and video products during the pandemic, including its recent live audio push. She’s also been a vocal critic of Apple Inc., calling out the company over its in-app purchase fees, which Facebook argues hurts creators.
As one of Facebook’s most important product executives, Simo had also reached the top of Facebook’s product ladder. Above her in the organizational chart was only CEO Mark Zuckerberg and Chris Cox, the company’s longtime head of product who rejoined Facebook last year after a short stint away.
New Job at Instacart
Simo joined the board of Instacart in January of this year; she'll take over as CEO from the delivery service's founder, Apoorva Mehta, as the startup approaches a possible initial public offering.
"Leaving behind the privilege of leading the Facebook app is very hard, and I would only do so for the chance to be part of building an epic company again," Simo wrote in a LinkedIn post.
While much of Simo's role leading Instacart will focus on logistics and technology, she wrote via LinkedIn that she plans to apply her experience in advertising by working with "[consumer-packaged goods] companies big and small to help them get their products discovered."
Mehta, who will become chairman for Instacart, added in a statement: "With Fidji, we have the right leader in place who has the experience we need to help make Instacart’s vision a reality."
Simo said she wants to build Instacart into an “incredible consumer app.”
“An app that people want to open very many times a week to be inspired by food content, and then buys our groceries online,” she said. Beyond food delivery, Simo said she’ll embrace Instacart’s growing advertising and enterprise businesses.
Simo also said she sees parallels with what she’s done at Facebook.
Simo, who joined the Instacart board in February, will be responsible for shepherding the company through its post-pandemic chapter and ensuring it can parlay its momentum into a successful IPO later this year. Instacart doubled its valuation to $39 billion in a March funding round that raised $265 million from investors.
Meanwhile, Instacart has been bolstering its corporate ranks this year by hiring a series of top executives. Nick Giovanni, who previously served as head of the technology, media and telecom group at Goldman Sachs Group Inc., was appointed chief financial officer in January, and a former Facebook vice president of product, Asha Sharma, became chief operating officer in February. Most recently, Instacart brought on Snowflake Inc. CEO Frank Slootman to its board of directors.
In addition to continuing to grow within grocery delivery into such categories as convenience store items, Simo said Instacart would also look to expand globally. Her success in helping build Facebook’s advertising business, which topped $84 billion in annual revenue in 2020, will come in handy at Instacart, where the number of advertisers on its platform increased by 500% last year. “Advertising is going to be an ever-growing part of Instacart’s revenue going forward,” Simo said in an interview.
|Before joining Instacart, Simo was the Vice President and Head of the Facebook app, which reaches billions of people every month. Over the last decade at Facebook, Simo oversaw the development and strategy for the Facebook app, including News Feed, Stories, Groups, Video, Marketplace, Gaming, News, Dating, Ads and more. She was also a core driver of Facebook's mobile monetization strategy and led the team in charge of architecting Facebook's advertising business and developing ad formats for mobile. She also made video a critical part of the Facebook experience, from rolling out videos that autoplay in News Feed, to building and launching Facebook Live and Watch. Prior to Facebook, Simo joined eBay in 2007 as part of the company's Strategy team. While at eBay, she helped build out the company's local commerce and classified-advertising initiatives.|
|About Instacart |
Instacart is the leading online grocery platform in North America. Instacart shoppers offer same-day delivery and pickup services to bring fresh groceries and everyday essentials to busy people and families across the U.S. and Canada. Instacart has partnered with more than 600 beloved national, regional and local retailers, including unique brand names, to deliver from nearly 55,000 stores across more than 5,500 cities in North America. Instacart's delivery service is available to over 85% of U.S. households and 80% of Canadian households. The company's cutting-edge enterprise technology also powers the ecommerce platforms of some of the world's biggest retail players, supporting their white-label websites, applications and delivery solutions. Instacart offers an Instacart Express membership that includes reduced service fees and unlimited free delivery on orders over $35. For more information, visit www.instacart.com. For anyone interested in becoming an Instacart shopper, visit https://shoppers.instacart.com/.
Amid the coronavirus pandemic, Instacart has become one of the most valuable private companies in the U.S. Since early 2020, its valuation has nearly quadrupled to $39 billion, making it the third-largest U.S.-based private start-up, behind fintech giant Stripe and Elon Musk’s SpaceX, according to Pitchbook.
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