INSTACART CEO SAYS ONLINE GROCERY SHOPPING HAS ROOM TO GROW

When the pandemic hit the U.S. last year, grocery delivery company Instacart suddenly became a lifeline for millions of consumers. Sales volumes skyrocketed; in one month, the company added 300,000 drivers to keep up with its orders.

“We saw five years of growth packed into one year,” Instacart CEO Fidji Simo said.

Demand has waned this year but remains above pre-pandemic levels. San Francisco-based Instacart __ which is a private company __ expects to see double-digit transaction growth this year.

But the company __ which offers delivery from 55,000 stores in the U.S. and Canada through its 500,000 contract workers __ is also trying to expand in other ways, like offering advertising services and non-grocery delivery from stores like Dick’s Sporting Goods. An initial public offering is likely in its future.

Guiding Instacart through this new normal is Simo, a former executive at Facebook who joined Instacart’s board in February and took over as CEO in August. Simo __ the daughter, granddaughter and great-granddaughter of fishermen __ says Instacart appealed to her because its mission is feeding people.

“I grew up with a very large, rambunctious French Sicilian family where the way we show love, the way we show care, is always food,” said Simo, who was born in France.

Simo spoke about Instacart’s future. Her comments have been edited for length.

Q. How would you describe the changes Instacart has seen over the last 18 months?