DoorDash in talks to buy Instacart in deal valued around $17-billion, source says — SkimNews
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- DoorDash is in advanced talks to acquire Instacart in a deal valuing the grocery-delivery platform at about $17 billion; a source said it could be finalized as soon as Wednesday, but with no guarantees.
- Instacart shares rose about 8% in regular trading Monday; its market value was about $13 billion at Friday’s close, while DoorDash shares fell around 6%.
- Instacart’s deal talks with Uber are no longer active, the source said, after preliminary discussions had included both Uber and DoorDash, the Information reported Friday.
- DoorDash would gain access to Instacart’s established marketplace and retailer ties under the potential transaction, which the source said could be combined with DoorDash’s own vast delivery network and customer base.
- The Wall Street Journal first reported the developments Monday, and its separate headline likewise described DoorDash as in advanced talks to acquire delivery rival Instacart.
Why it matters: The immediate market split is stark: DoorDash fell around 6% on Monday while Instacart rose about 8%. Strategically, the proposed $17 billion transaction would give DoorDash access to Instacart’s established marketplace and retailer ties, while DoorDash already has its own delivery network and customer base.
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