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DoorDash agrees to buy Instacart for 17 billion dollars

DoorDash has agreed to acquire grocery delivery rival Instacart for 17 billion dollars, though regulatory rules will keep the two companies operating separately until closing.

FTMQ Business, written by our newsroom0 views

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Picture: PYMNTS

DoorDash has agreed to acquire Instacart in a deal valued at 65 dollars a share, or 17 billion dollars total, according to PYMNTS and Fortune. The acquisition agreement was announced on October 29. Fortune reported that the deal could take until mid-2028 to officially close. [1][2]

During its third-quarter earnings call, DoorDash reported record revenue and almost one billion orders, PYMNTS reported. Wall Street analysts questioned executives about how the Instacart grocery app and DashPass memberships will be integrated once the transaction is finished. [1]

An internal document filed with the Securities and Exchange Commission instructed DoorDash employees not to connect with Instacart staff on LinkedIn until the transaction completes, Fortune reported. The company provided a scripted response for staff to use if Instacart employees reach out, citing a need to avoid legal and antitrust issues. [2]

DoorDash holds a 56 percent market share in United States food delivery and a 60 percent market share in convenience delivery. San Francisco-based Instacart operates a retail media and grocery delivery business across the United States and Canada. As FTMQ Business reported earlier, Instacart previously engaged in acquisition discussions with both DoorDash and Uber before Uber ended its talks. [3][5][6]

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In short

  • DoorDash agreed to acquire Instacart for 65 dollars a share, valuing the deal at 17 billion dollars.
  • The acquisition agreement was publicly announced on October 29.
  • DoorDash filed SEC documents instructing employees to avoid social media contact with Instacart staff until the deal closes.
  • The transaction could take until mid-2028 to formally complete.

Sources

Every paragraph above points to the numbered items it rests on. Read the originals here.

  1. [1]DoorDash Sees More in Instacart Than a Second Grocery CartPYMNTS, 1d ago (the report this story comes from)
  2. [2]DoorDash is buying Instacart for $17 billion. Its employees can’t add Instacart staff on LinkedInFortune, 1d ago

Background

  1. [3]DoorDash on Wikipedia
  2. [4]List of Guy's Grocery Games episodes on Wikipedia
  3. [5]Instacart on Wikipedia
  4. [6]Instacart shares jump following food delivery merger discussions FTMQ Business, 13d ago

Our newsroom writes these reports with the help of software, from the 6 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.

Related from FTMQ Business

Earlier reports of ours on the same people and subjects.

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