DoorDash Set to Acquire Instacart in $17B Deal as Early as Thursday
DoorDash is expected to announce a deal to buy Instacart as soon as Thursday morning, sources told CNBC, valuing the grocery delivery firm at roughly $17 billion.
DoorDash is poised to announce an acquisition of grocery delivery platform Instacart as early as Thursday morning, according to sources who spoke with CNBC, a move that would reshape the competitive landscape of on-demand delivery in the United States.
Speculation about a potential transaction has circulated since last week, with multiple outlets reporting the deal could value Instacart at approximately $17 billion. The expected announcement would mark one of the more significant consolidations in the gig-economy delivery sector in recent memory.
Read more Zillow Agrees to $212.5 Million Settlement in Class Action Lawsuit →
A combined DoorDash-Instacart entity would bring together two of the country's most recognizable delivery brands — one dominant in restaurant food delivery and the other in grocery and household essentials. The pairing could give DoorDash considerable leverage in negotiations with retailers and consumer packaged goods advertisers, a fast-growing revenue stream for Instacart.
Instacart had previously pursued a path to the public markets, filing for an IPO in 2023 before eventually listing on the Nasdaq. The company has since worked to diversify its business beyond delivery logistics, building out an advertising technology platform that serves major grocery chains and consumer brands. DoorDash, meanwhile, has been expanding its own grocery and convenience delivery offerings, making Instacart a strategically complementary target.
The terms of the agreement and the precise structure of the transaction had not been officially confirmed at the time of reporting. Continue reading at US Top News and Analysis.
