DoorDash Buys Instacart for $17 Billion as Q3 Revenue Tops $4.62 Billion
Updated
Updated · CNBC · Oct 29
DoorDash Buys Instacart for $17 Billion as Q3 Revenue Tops $4.62 Billion
3 articles · Updated · CNBC · Oct 29
Summary
$65 a share in cash and stock values Instacart at about $17 billion, with DoorDash paying an 11% premium to Wednesday's close and aiming to close by late 2027 or early 2028.
DoorDash said the deal pairs Instacart's grocery know-how with its delivery network, while keeping Instacart's brand, app and enterprise technology products after closing.
DoorDash shares rose more than 8% premarket as the company also posted stronger-than-expected quarterly results: adjusted EPS of $1.06, revenue of $4.62 billion and gross order value of $33.9 billion.
The acquisition deepens DoorDash's push into grocery as Instacart faces tougher competition from Amazon and Walmart, and analysts say the overlap could draw antitrust scrutiny.