Inside Instacart's Turbulent Year I The S&P 500's Only Black Female CEO

Plus: WeWork May Use A SPAC To Finally Go Public

Back in 2015, former Amazon supply-chain engineer Apoorva Mehta appeared on the Forbes Under 30 list for his innovative, Uber-like grocery delivery service. With over $100 million in 2014 revenue, Instacart was expanding even faster than Amazon Fresh. Today, the pandemic has transformed his grocery delivery service into an essential—and booming—business.

Now the 34-year-old billionaire is under increased pressure to outdo Jeff Bezos—all while dodging an avalanche of new competitors, rebellious workers and restless partners. In this week's must-read story, Staff Writer Chloe Sorvino takes you inside Mehta and Instacart's turbulent year. “We saw five years of growth in a matter of five weeks,” he tells her. “The trajectory of the company has forever changed.”

Must Read Stories For Young Entrepreneurs

By Forbes' accounting, Rosalind “Roz” Brewer is the 48th most powerful woman in the world and poised to become even more powerful: On Tuesday night, news broke that Brewer will become CEO of Walgreens in March. Brewer will be the only Black woman chief executive of an S&P 500 company.

Tesla reported a net income of $270 million in 2020’s final quarter, helping Elon Musk’s electric vehicle powerhouse notch its first profitable year. Sales of pollution credits helped keep Tesla in the black.

Ecommerce fulfillment startup Shipmonk, cofounded by Czech-born Forbes Under 30 honoree Jan Bednar, announced that it has raised a $65 million growth equity investment from Periphas Capital. Bednar immigrated to the U.S. at the age of 16, and today runs a company employing 1,000 people.

Robert Downey Jr. is diving into the world of venture capital, announcing the launch of two new investment funds at the World Economic Forum’s virtual Davos. The funds will support companies developing business models and technologies that help address some of the toughest challenges posed by climate change.

When Calibrate—the female-founded telehealth startup trying to disrupt the $70 billion weight loss industry—came out of stealth mode in June, it was operating in three states, had 10 employees and $5.1 million in seed funding. Seven months later, the service has expanded to seven states, grown to 52 employees and, as of Tuesday morning, secured a fresh $22.5 million Series A.

The Pursuit

This week's collection of expert tips from Forbes contributors around the world for those building and running a business. Click to sign up instantly for The Pursuit, a biweekly essential briefing by Senior Entrepreneurs Editor Maneet Ahuja.

22-year-old poet Amanda Gorman burst into the country’s attention at Joe Biden’s inauguration like a brilliant sunrise. She’d been honing her craft for years below the horizon and the light of her personal brand had been growing steadily, living three lessons for others to follow.

The Conference Board recently released its annual C-Suite Challenge report, which outlines the challenges and critical issues that corporate CEOs are facing this year as well as their strategies for meeting them. These insights potentially impact community and nonprofit leaders as they struggle to garner resources and assistance for their causes and vulnerable neighborhoods and populations.

The 4P’s are dead. Why? Because it’s an academic framework for marketing that is not practical or actionable. 

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