(Reuters) – Instacart said on Thursday cloud-based data warehouse firm Snowflake’s chief executive officer, Frank Slootman, has joined the board of the U.S. grocery delivery company that is preparing to go public this year.
He has also led the IPOs of ServiceNow and Data Domain, and oversaw the eventual acquisition of Data Domain by EMC for more than $2 billion.
Instacart is considering going public through a direct listing, Reuters reported earlier this month. It has hired Goldman Sachs Group Inc to lead its upcoming IPO, Reuters reported in November.
The company raised $265 million in its latest round of funding, more than doubling its valuation to $39 billion in less than six months.
The company has seen a boom in demand for delivery during the COVID-19 pandemic and has been expanding its business to non-grocery goods, serving customers of major stores such as Walmart Inc, beauty product retailer Sephora and convenience store 7-Eleven.
(Reporting by Nivedita Balu in Bengaluru; Editing by Shinjini Ganguli)