DoorDash in Talks to Acquire Instacart in Deal Valuing Grocery Platform at About $17 Billion

DoorDash is in talks to acquire Instacart in a deal that would value the grocery delivery platform at around $17 billion, the Wall Street Journal reported, citing people familiar with the matter. The acquisition could be finalized as soon as this week. Instacart's market value stood at roughly $13 billion before Monday's report. Its shares have risen nearly 19% over the past five days to about $60 per share, giving it a $14 billion market value. DoorDash shares have fallen 10% over the same period, closing around $170 per share on Tuesday, for a market value of about $73 billion. DoorDash, which went public in 2020, already delivers goods from Kroger, Safeway, CVS, Macy's and Target and is expanding into drones and autonomous delivery robots. Instacart listed in 2023. Both companies rely on independent contractors to shop and deliver goods via app. The Journal also reported that Uber once considered buying Instacart, though those talks are no longer active. DoorDash did not immediately respond to a request for comment.