How 20 Startup Failures And An 'Empty Refrigerator' Inspired Apoorva Mehta To Found Instacart And Become A Billionaire

In entrepreneurship, success often comes after overcoming numerous failures and setbacks. Apoorva Mehta, a 37-year-old serial entrepreneur, founded around 20 failed startups before changing online grocery shopping with Instacart. 

Born in 1986 in Jodhpur, India, Mehta and his family moved to Ontario, Canada, when he was 14. He attended the University of Waterloo, where he graduated with an electrical engineering degree. He worked for several months at BlackBerry and Qualcomm Inc., before finding a supply-chain engineer job at Amazon.com Inc. in 2010. He worked for the e-commerce giant for two years before deciding to move to San Francisco to pursue entrepreneurial ventures. 

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Mehta’s early years in entrepreneurship were challenging, with around 20 failed startup attempts under his belt over two years. These included a range of ventures, from an advertising startup for gaming companies to a social network for lawyers. Each endeavor faced its share of obstacles. Despite repeated setbacks, Mehta persisted in his pursuit of success and continued to research different markets. 

In 2012, Mehta stumbled upon the idea that would change his life and the landscape of online grocery delivery. Faced with the recurrent issue of running low on groceries, he recognized a gap in the market. In an interview with CNBC, Mehta said, “This was 2012, and we were ordering everything online, except for groceries. I decided I was going to change that.”

He reflected on his inspiration in a LinkedIn post from late September, saying, "My empty refrigerator was an ongoing problem — and a source of inspiration. It was 2012 and I could shop for everything online except groceries. That was a lightbulb moment for me, and I got started coding the first version of the Instacart App. Today, the company I founded in my kitchen is now publicly traded ($CART)! I'm immensely grateful to the team that built Instacart."

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Drawing inspiration from his own experiences, Mehta began coding the first version of the Instacart app. Three weeks later, Instacart was born. The initial journey was not without its challenges. Mehta was eager to join Y Combinator, a prestigious startup accelerator, but missed the application deadline. However, he demonstrated his determination by delivering a six-pack of beer to the accelerator’s headquarters using the Instacart app, securing his spot in the program.

With the support of Y Combinator, Mehta secured $2.3 million in venture capital funding within a few months. Instacart rapidly expanded beyond San Francisco and now delivers groceries from over 80,000 stores, including major chains like The Kroger Co., Costco Wholesale and Wegmans Food Markets Inc., in more than 14,000 cities across North America. 

Instacart went public on Sept. 19 at an approximately $10 billion valuation. Before going public, Instacart disclosed in a Securities and Exchange Commission (SEC) filing that the company had fulfilled over 900 million orders, containing 20 billion items since its inception. As Instacart went public, Mehta’s net worth soared to $1.1 billion after selling 700,000 shares. He stepped down as CEO after 11 years leading the firm and remains executive chairman. 

Instacart’s success underscores Mehta’s determination and the benefits of entrepreneurs trying different ventures until they find the right untapped market opportunities. Mehta’s journey from failed startups to the helm of a billion-dollar company serves as an inspiration for aspiring entrepreneurs, emphasizing the importance of resilience and adaptability.

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