DoorDash talks to buy Instacart at $17 billion rattle shares of both companies
Key Facts
The Information reported on October 26 that DoorDash is in advanced talks to acquire Maplebear, Instacart’s parent company, in a deal valued at about $17 billion. Reuters said an agreement could be reached as soon as that week, but negotiations had not produced a final deal. The Information, citing people familiar with the matter, said a deal announcement could come in the following days if talks did not collapse at the last minute. The agency said completion was not guaranteed. The prospect would bring the largest U.S. grocery delivery platform into a deal that could redraw competition in the delivery and local commerce market.
The deal could combine DoorDash’s delivery network and customer base with Instacart’s relationships with retailers and its online marketplace, Reuters reported of the potential transaction. Reports did not attribute this arrangement to a stated aim by either company, leaving their official motives unspecified in the published information. Against the backdrop of the negotiations, Reuters said DoorDash’s talks with Uber over a potential deal were no longer active. That means the negotiating path currently leading the reports is focused on Instacart, while pointing to no agreement with Uber. The available information included no details on the deal structure or financial terms beyond the estimate of its total value.
The companies previously discussed a potential sale in 2021, when privately held Instacart was valued at about $39 billion and the potential deal valuation range was between $40 billion and $50 billion, according to The Information. Those talks ended without a deal amid concerns about securing antitrust approval. The current estimate of about $17 billion comes years after that earlier valuation, at a time when both companies are publicly listed. The new discussions also came as Instacart’s revenue growth slowed to 11% in both 2024 and 2025, according to Investing.com. DoorDash, by contrast, recorded revenue growth of 28% in 2025, the same source said.
Share movements on October 26 showed a mixed reception to the reports: Maplebear, Instacart’s parent company, rose about 8% in regular trading, while DoorDash fell nearly 6%, according to Reuters via MarketScreener. DoorDash closed at $168.44 that day, according to EL7 data. The closing-price data provided do not include a session high or low. In a broader context, Uber struck a deal in July worth nearly $15 billion to buy Germany’s Delivery Hero, Reuters reported. The agency placed that deal among delivery companies’ expansion into grocery and retail sectors.
Instacart said it would end its Caper Cart business, saying it had decided to direct time and resources to areas it believes can scale and deliver greater impact for its retail and brand partners and its customers. A Maplebear filing with the U.S. Securities and Exchange Commission showed the company expects the wind-down to be largely complete by the end of the second quarter of 2027. The filing estimated pretax charges related to the move at between $55 million and $80 million, with most to be recorded in the fourth quarter of 2026. The decision is an operational update announced by Instacart alongside reports of acquisition talks. The company did not link the wind-down to its discussions with DoorDash in its statement.
The market is awaiting DoorDash’s third-quarter 2026 results, scheduled for release after U.S. markets close on November 4. The company said it would hold a conference call that day to discuss results and guidance at 4:30 p.m. Eastern Time. The results date puts the potential deal report ahead of a near-term financial milestone for DoorDash investors. As for the timing of any deal announcement, sources cited by The Information said it could come in the following days, while Reuters said an agreement could be reached as soon as that week. The deal remains unfinalized and could fall through, according to the reports, until a confirmed announcement is made.