DoorDash in Advanced Talks to Acquire Instacart for About $17 Billion
publishers 26articles 30first 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. A deal could be reached as soon as this week, though the discussions remain tentative and could still collapse.
Instacart has hired an investment bank to evaluate its options and has also held discussions with Uber, according to reports cited by TechCrunch. Bloomberg reported that Uber walked away from those talks. Instacart had a market capitalization of more than $13 billion, with its shares up 25% for the year before reports of a possible transaction.
The reports sent Instacart shares up more than 9.2% on Friday, while shares of DoorDash and Uber declined. Bloomberg also reported that Instacart plans to wind down its smart-cart business amid the sale discussions.
Instacart specializes in grocery shopping and home delivery, while DoorDash has expanded beyond restaurant delivery into groceries. Neither company was reported to have announced an agreement, and the talks may not result in a sale.
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 84 h after the record first saw the story; the editor kept it as written.
- Publishers
- 26
- Source articles
- 30
- Given to the writer
- 8, 1 with the article's own text
- Independent newsrooms
- 7
- This version written
- 84 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 →