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Oct 26 — DoorDash is in advanced talks to acquire Instacart in a deal that could value the grocery-delivery platform at about $17 billion, a source familiar with the matter told Reuters on Monday.
A deal may be finalized as soon as Wednesday, although there are no guarantees it will come together, the person said. Instacart's deal talks with Uber are no longer active, the person added.
Shares of Instacart, which had a market value of about $13 billion as of Friday's close, rose about 8% in regular trading, while DoorDash fell around 6%.
The Wall Street Journal first reported the developments on Monday.
The potential deal would give DoorDash access to Instacart's established marketplace and retailer ties, which it could combine with its own vast delivery network and customer base.
Instacart has been exploring a possible sale and has held preliminary discussions with potential buyers including Uber and DoorDash, the Information reported on Friday, citing people familiar with the matter.
Instacart declined to comment when contacted by Reuters, while Uber and DoorDash did not immediately respond.
(Reporting by Sanskriti Shekhar in Bengaluru; Editing by Shreya Biswas)
