Instacart in sale talks with Uber, DoorDash, report says

Instacart Maplebear Inc. ↗ 9.21% is exploring a possible sale and has held early discussions with potential buyers, including Uber ↘ 3.43% and DoorDash ↘ 3.53%, The Information reported on Friday, October 23, citing people familiar with the matter, according to Reuters. The grocery delivery company has hired an investment bank to review its options. The talks with Uber and DoorDash are early and still going on, and they may not lead to a deal, Bloomberg reported, citing The Information.money.usnews.com+1

Market reaction

Instacart shares closed about 9% higher on Friday and edged up in after-hours trading, Reuters reported. The company has a market value of about $12 billion. Shares of both possible buyers fell. Uber closed down nearly 3%, and DoorDash fell more than 4%. Instacart, Uber and DoorDash did not immediately respond to Reuters' requests for comment.money.usnews.com

Investing.com estimated that a typical takeover premium of 30% to 40% would value Instacart at roughly $16 billion to $17 billion. It added that any deal would likely face antitrust scrutiny because the companies overlap in grocery delivery.in.investing.com

Slowing growth, closer Uber ties

Instacart has grown more slowly than its larger rivals since its 2023 IPO. Its revenue growth slowed to 11% in both 2024 and 2025, compared with 28% at DoorDash last year, according to Investing.com. In the second quarter, revenue rose 14% from a year earlier to $1 billion, and free cash flow reached $480 million. Instacart works more closely with Uber than with DoorDash. One partnership, for example, lets customers order Uber Eats through the Instacart app.in.investing.com

Investors have worried for some time about competition in grocery delivery. In February, CEO Chris Rogers called those concerns "overblown" and said the company watches threats "extremely closely," CNBC reported. This week, at the Groceryshop conference in Las Vegas, Rogers laid out a plan to lower the costs that keep shoppers from ordering weekly groceries online, Digiday reported.cnbc.com+1

Competing priorities for buyers

Both possible buyers have looked at deals before. DoorDash explored buying Instacart in 2021 at a reported valuation of $40 billion to $50 billion, but the talks fell apart partly because of regulatory concerns, Investing.com noted.in.investing.com

Uber is already in the middle of a large purchase. In July, it agreed to buy Germany's Delivery Hero at an equity value of $14.8 billion, Reuters reported. Delivery Hero shareholders can accept the offer until November 5, 2026, according to Uber, and the deal is expected to close in the second half of 2027. Investing.com said that deal, along with Uber's agreement to buy ezCater, could make an Instacart bid harder.investor.uber.com+1