Instacart weighs possible sale as Uber leaves talks, reports say
The grocery delivery company’s shares rose 9.2% after reports of discussions with potential buyers, including DoorDash.
Instacart is considering a potential sale with help from an investment bank, according to The Information. Its reporting on 23 October cited people familiar with the matter and identified DoorDash and Uber as companies involved in initial discussions.
Uber has since left the negotiations, according to subsequent reporting from The Information and Bloomberg’s Mark Gurman. Discussions involving other companies remain preliminary, with no certainty of an agreement, The Information said. TNW said neither report had been independently verified by its journalists.
Bloomberg put Instacart’s share price at US$56.44 following a 9.2% rise after the report. Uber’s stock dropped 3.4%, and DoorDash’s declined 3.5%. Instacart trades as Maplebear and declined requests for comment from Bloomberg and Reuters.
A previous attempt by DoorDash to acquire Instacart ended in 2021 over concerns about antitrust approval under the Biden administration, The Information reported. Instacart went public in 2023.
Quarterly results are due from DoorDash on 4 November and from Instacart on 5 November.
