DoorDash in Advanced Talks to Acquire Instacart for About $17 Billion
publishers 25articles 28first reported 24 Oct, 16:30 UTCdeveloping since 24 Oct · 9 editions
DoorDash is in advanced talks to acquire grocery-delivery rival Instacart in a deal valued at roughly $17 billion, according to The Wall Street Journal and Reuters. The companies could reach an agreement as soon as this week, although discussions remain tentative and may not result in a sale.
Instacart has hired an investment bank to evaluate its options and has held talks with both DoorDash and Uber, The Information and Bloomberg reported. Uber has since withdrawn from its discussions with Instacart, according to Bloomberg.
Instacart, whose business centers on grocery shopping and home delivery, had a market capitalization of more than $13 billion before the latest reports. Its shares had risen about 25% during the year and jumped more than 9.2% after reports of a possible sale emerged, while shares of DoorDash and Uber declined.
Bloomberg also reported that Instacart plans to wind down its smart-cart business amid the sale discussions. DoorDash already operates in grocery delivery, alongside its core restaurant-delivery business.
HOW THIS STORY WAS MADE
Written from 8 articles, 1 with the publisher's own text; 7 independent newsrooms once syndicated copies count as one; this version written 72 h after the record first saw the story; the editor kept it as written.
- Publishers
- 25
- Source articles
- 28
- Given to the writer
- 8, 1 with the article's own text
- Independent newsrooms
- 7
- This version written
- 72 h after the record first saw the story
- Second model (editor)
- kept as written
- Publication gate
- passed
- Human review
- none
WHAT THE EDITOR DID
The second model checked the writer's draft against the same sources and published it as written.
Written by a language model from the sources above, then checked by a second model that may only cut, attribute or correct. How it works →