Scaling Instacart to $10+ Billion with ex-President Nilam Ganenthiran

The Peel with Turner Novak

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Nilam Ganenthiran is the founder and CEO of Beacon Software. Previously, he was the 12th employee and President at Instacart.

We talk tactics for customer research, building customer relationships, balancing strategy and execution, how to serve on and manage a board, what happened when Amazon bought Instacart’s biggest customer Whole Foods, inside its COVID response, surviving eight months of runway in 2015, his new company Beacon Software, and more.

Timestamps:

(00:00) Intro (04:23) Inside Amazon acquiring Instacart’s biggest customer, Whole Foods (12:13) Lessons from quickly signing 8 of the top 10 grocers (13:06) Why grocers were slow to adopt ecommerce (15:29) Building “Shopify for grocers” (16:22) Sales = building relationships (19:05) Why Wegman’s is one of the best grocers in the world (20:43) Cold calling Wegman’s and signing them two years later (24:33) How to do customer research (26:59) Catching an Uber in suits on the highway (28:50) Why Instacart was possible back in 2013 (30:36) Launching Instacart’s advertising network (38:46) Growing 5x in 5 weeks during COVID (45:20) How Nilam started angel investing (47:56) Advice for sitting on boards (50:00) The roles and incentives of a board member (54:03) Deciding when to keep going and when to give up (56:02) Nilam’s framework around optionality (59:17) Seven years of weekly redeye flights (1:00:30) Almost running out of money 8 months after Instacart’s Series C (1:07:54) Why time is your scarcest resource & startups are default dead (1:10:00) Nilam’s new company, Beacon Software (1:11:28) Why he’s excited about AI (1:13:25) How AI makes human relationships more important (1:14:41) Turner’s investing lessons from family members

Beacon Software: https://beaconsoftware.ca/

Where to find Nilam:

Twitter: https://twitter.com/nilamg

LinkedIn: https://www.linkedin.com/in/nilamganenthiran/

Where to find Turner:

Twitter: https://twitter.com/TurnerNovak

LinkedIn: https://www.linkedin.com/in/turnernovak/

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