Instacart names new CFO

Instacart has a new chief financial officer.

Nick Giovanni takes over the role on Jan. 27. Giovanni will oversee finance, accounting and corporate development for the company, and will report directly to founder and CEO Apoorva Mehta. Giovanni will succeed current CFO Sagar Sanghvi. The two will partner together to ensure a seamless transition.

Before joining Instacart, Giovanni spent more than 20 years at Goldman Sachs where he advised on financing and investing transactions for companies such as Airbnb, DoorDash, Square, Twitter, Snap, Dropbox and Yelp.

While at Goldman Sachs, Giovanni also worked on several high-profile M&A deals including Slack’s sale to Salesforce, Credit Karma’s sale to Intuit, Skype’s sale to Microsoft and Zillow’s purchase of Trulia.

"Instacart is helping to bring the grocery industry online for consumers, retailers, advertisers and shoppers," said Giovanni. "It’s been particularly impressive to watch Instacart successfully scale its operations and technology over the last year during a period of unprecedented growth."

"Apoorva and the talented management team have built a lasting business in a massive market that’s poised for continued online growth," he added. "I look forward to partnering with them as we focus on delivering long-term value for our customers, shoppers and partners."

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