Grocery delivery company Instacart is reportedly considering a sale after holding preliminary acquisition discussions with DoorDash and Uber, according to reports published on October 23. The company has hired an investment bank to evaluate its options, although Uber has since withdrawn from discussions and no agreement has been announced.
The Information first reported that Instacart had approached potential buyers, including DoorDash, citing people familiar with the matter. Bloomberg subsequently reported that Uber had also participated in discussions but was no longer pursuing a transaction.
The talks remain at an early stage and may not result in an acquisition. An Instacart spokesperson declined to comment on the reports, while Uber and DoorDash did not immediately respond to requests for comment.
Instacart Shares Rise Following Acquisition Reports
Shares of Instacart surged 9.2% to $56.44 on October 23 following reports of the potential sale, bringing its market capitalization to approximately $13 billion. The company’s stock has gained more than 25% since the beginning of 2026.
Meanwhile, shares of Uber declined approximately 3.4%, while DoorDash fell 3.5% during the same trading session. The market movements followed speculation that either company could acquire Instacart to expand its grocery delivery operations.
According to The Information, a typical acquisition premium of 30% to 40% could value Instacart at approximately $16 billion to $17 billion. However, no potential purchase price or formal acquisition proposal has been disclosed.
Potential Acquisition Faces Competition and Regulatory Questions
Instacart, which operates publicly under the corporate name Maplebear, went public in September 2023 at a valuation of approximately $10 billion. The company previously reached a private valuation of $39 billion in 2021 during a period of increased demand for online grocery services.
DoorDash and Instacart also reportedly discussed a possible acquisition in 2021, with valuations ranging from $40 billion to $50 billion. Those discussions ended without an agreement, partly because of concerns about regulatory approval.
Both DoorDash and Uber have since expanded their grocery delivery businesses, increasing competition with Instacart. The company also faces competition from Amazon and retailers developing their own online shopping and delivery services.
Any potential transaction involving DoorDash or Uber could face antitrust scrutiny because the companies operate competing delivery platforms. Regulators would need to assess whether combining their operations could reduce competition in the United States.
Instacart reported $1 billion in revenue for the second quarter of 2026, representing a 14% increase from the previous year. The company also generated approximately $480 million in free cash flow during the quarter, according to The Information.
Featured image credits: Wikimedia Commons
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