Business

DoorDash to Acquire Instacart for $17 Billion

AI SUMMARY

DoorDash has announced an agreement to purchase Instacart for $17 billion in a deal expected to close in late 2027 or early 2028.

DoorDash agreed to acquire Instacart for $17 billion, paying $65 per share.
DoorDash has stated that the acquisition will give Instacart customers access to more than 50,000 additional stores, building on nearly 100,000 existing stores.
The companies will operate as separate entities until the merger is finalized in late 2027 or early 2028.
DoorDash plans to maintain Instacart's brand, technology, and app after the deal closes.
Instacart was founded in 2012, while DoorDash was founded in 2013.
DoorDash held nearly 61% of the U.S. food delivery market share by the end of 2024, while Instacart's market spending share fell to 18% from 26% five years ago.
The Federal Trade Commission opened a probe into DoorDash and Instacart, along with seven other companies, to examine pricing practices like personalized pricing.