Instacart Explores $16 Billion Sale as Uber and DoorDash Circle — Shares Jump 9%

Instacart Explores Sale as Uber and DoorDash Circle

Grocery delivery firm Instacart is exploring a sale and has held early talks with Uber and DoorDash, Reuters reported on Friday, citing The Information. Instacart shares jumped about 9 percent on the news, lifting the company from a market value of around $12 billion — and a typical takeover premium of 30 to 40 percent would value it at roughly $16 billion to $17 billion.

A deal would combine Instacart's established grocery marketplace and retailer ties with the buyer's huge delivery network and customer base — but it would also draw close antitrust scrutiny, since it would bulk up two of America's biggest food-delivery platforms. Uber shares fell about 3 percent and DoorDash about 4 percent on Friday. Instacart declined to comment, while Uber and DoorDash did not immediately respond.

The talks come as Instacart risks being squeezed between supermarkets building their own delivery channels and larger platforms that bundle groceries with other services. DoorDash explored buying Instacart in 2021 at $40-50 billion, but those talks collapsed over antitrust worries; analysts say today's more deal-friendly climate in Washington makes a deal plausible, though parts of the business might have to be sold off. Uber already struck a nearly $15 billion deal in July to buy Germany's Delivery Hero.

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