New CEO of online grocery startup Instacart to take over on August 2nd. Simo has been responsible for Facebook’s “big blue app” since 2019, overseeing “News Feed, Stories, Groups, Video, Marketplace, Gaming, News, Dating, and Ads.” She’s now leaving Facebook to join Instacart ahead of the anticipated IPO.
Facebook is facing interesting times as regulators and politicians attack Big Tech, which controls the online experience for billions of people because of its dominance in the market and opaque algorithms.
Facebook’s “pivot to video” and role as a pipeline for misinformation and bad actors have been criticized, as well as a memo from Simo from last year that showed the company’s focus on engagement metrics.
According to Bloomberg, she’ll be replaced by Tom Alison, who ran community products including “Groups.” Taking note of the fact that all of Facebook’s highest ranking product executives are men with this change.
Due to Facebook’s structure, Mark Zuckerberg is free to run things as he sees fit without being threatened with being replaced or supplanted by anyone else.
Sheryl Sandberg, the COO of Facebook, and Mark Zuckerberg‘s relationship is described in a new article in the New York Times. Sandberg’s influence over company decisions reportedly has waned as Zuckerberg controls more decisions.
As CEO of Simo, his company has recently been valued at $39 billion, has plans for growth, and is poised to become publicly traded soon. She stated that “We believe people will fundamentally change their relationship with food and the way in which they eat over the next decade, as we look toward the future of food.”
A more convenient experience will be available to them, a wider selection of food at their fingertips, faster delivery times, and greater personalization Aspiration. All of this is achievable with Instacart, as well as making it an even stronger ally and growth engine for advertisers, and creating economic opportunities for hundreds of thousands of shoppers.
Even so, the grocery company isn’t without its flaws, including extremely optimistic ideas about automating the workforce, as well as stories of employee treatment and the company’s response to unionization efforts during the pandemic.