Business · Updated 27 Oct, 08:06 am IST
DoorDash in advanced talks to buy Instacart for about $17 billion
Why it matters for readers: It's a major consolidation move in grocery delivery that could affect how groceries get delivered in the future.
- DoorDash is in advanced talks to acquire Instacart in a deal that could value Instacart at about $17 billion.1
- A deal may be finalized as soon as Wednesday, though there is no guarantee it will come together.1
- Instacart's shares rose about 8% on the news while DoorDash's shares fell around 6%.1
- Instacart had been exploring a sale and had held preliminary discussions with potential buyers including Uber and DoorDash, but talks with Uber are no longer active.1
- The acquisition would give DoorDash access to Instacart's established marketplace and retailer relationships to combine with its delivery network and customer base.1
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