Today In Connected Economy: Instacart Appoints New CEO; Popshop Live Raises Series A

Instacart Appoints Facebook’s Fidji Simo As CEO

Instacart has turned to Facebook in its search for a new CEO as it gets ready for an anticipated initial public offering (IPO). Fidji Simo, who is among the highest-ranking female executives at Facebook, will become Instacart’s new chief executive effective August 2. She will take the place of Apoorva Mehta, who is Instacart’s founder and current chief executive and will transition to a new role as executive chairman. Earlier in 2021, Instacart named Nick Giovanni, a former Goldman Sachs executive, as its new CFO.

Popshop Live Valued At $100 Million, Adds Two Tech Veterans To Team

Livestream shopping community Popshop Live is coming off a Series A round with a valuation of $100 million. Livestream shopping refers to the activity of producing live videos in which individuals market merchandise for a firm or answer questions, among other kinds of activities. “Livestream commerce is not just a trend in China and through the pandemic, it is an emerging multi-billion-dollar phenomenon whose growth is accelerating every day,” said Popshop Live board member Matt Cohler of Benchmark, as previously reported.

SoftBank Acquiring 10 Pct Stake In South Korea’s Yanolja Before US IPO

SoftBank, the Japanese technology conglomerate, is reportedly in the middle of talks to purchase a 10 percent stake in Yanolja. Its support of Yanolja — which means “Hey, let’s play” in Korean — could reportedly help the South Korean travel reservation platform go public in the U.S. as early as 2023. “If they get the SoftBank investment, they are likely to pursue a Nasdaq listing, rather than a domestic IPO,” an unnamed source said in a recent report from the Financial Times.