DoorDash is in advanced talks to acquire rival Instacart
DoorDash is in advanced talks to acquire rival Instacart, The Wall Street Journal reported, citing people familiar with the matter. A source told Reuters the deal could value Instacart at about $17 billion and could be finalized as soon as Wednesday, though there are no guarantees. Reuters reported Instacart shares rose about 8% in regular trading, while DoorDash fell around 6%.
More context
DoorDash is in advanced talks to acquire grocery-delivery rival Instacart, The Wall Street Journal reported Monday, citing people familiar with the matter. A source familiar with the matter told Reuters the deal could value Instacart at about $17 billion. The source said it could be finalized as soon as Wednesday, though there is no guarantee; the Journal said it could be completed this week if talks do not fall apart. Reuters’ source said Instacart’s talks with Uber are no longer active. The Information reported Friday that Instacart had held preliminary discussions with potential buyers, including Uber and DoorDash. A deal would give DoorDash access to Instacart’s marketplace and retailer ties, which it could combine with its delivery network and customer base, Reuters reported. Instacart shares rose about 8% in regular trading Monday, while DoorDash shares fell around 6%.
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Reporting
- MarketScreener — DoorDash in Advanced Talks to Acquire Instacart
- Reuters — DoorDash in talks to buy Instacart in roughly $17 billion deal, source says
- The Wall Street Journal — Exclusive | DoorDash Is in Advanced Talks to Acquire Delivery Rival Instacart - WSJ
- investing.com — DoorDash in advanced talks to acquire Instacart, WSJ reports
- lufkindailynews.com (with Reuters) — DoorDash in talks to buy Instacart in roughly $17 billion deal, source says | Business | lufkindailynews.com
Verifier’s note
The Wall Street Journal reports that DoorDash is in advanced talks to acquire Instacart, and Reuters separately reports the same development. Investing.com and MarketScreener relay the WSJ report, and Lufkin Daily News republishes Reuters coverage.