CONNECT WITH US
Tech

Tech

DoorDash acquires Instacart in $17 billion delivery service merger

Engadget logo

Published on

Add as a preferred source on Google
DoorDash acquires Instacart in $17 billion delivery service merger

The deal combines the two largest grocery delivery platforms in the US.

DoorDash has struck a deal to acquire rival Instacart in a deal valued at $17 billion. The purchase will combine the two biggest grocery delivery services in the US, assuming it isn't stymied by antitrust scrutiny.

DoorDash gained popularity as a restaurant and takeout option, but it does also offer other shopping services, including grocery delivery. The integration of Instacart's network could help further bolster those features. The Instacart acquisition isn't DoorDash's only recent expansion. Earlier this year, the company began testing a drone delivery program.

Multiple advanced reports, including from The Information and The Wall Street Journal, had recently suggested that Instacart was exploring options for a sale. In addition to DoorDash, at some point Uber was also reportedly a potential buyer.

Today's announcement isn't the first time DoorDash had made a pitch for Instacart; it had been in talks that placed Instacart at a higher valuation back in 2021, but those negotiations reportedly ended due to concerns over price and possible antitrust regulation.



Source link
Related Topics:Tech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.