DoorDash Announces $17 Billion Acquisition of Instacart at $65 Per Share, a 26% Premium
Food delivery giant DoorDash has signed a definitive agreement to buy grocery delivery platform Instacart for approximately $17 billion, aiming to consolidate local commerce services.
US food delivery leader DoorDash (NASDAQ: DASH) announced on October 29, 2026, that it has entered into a definitive agreement to acquire grocery e-commerce platform Instacart (NASDAQ: CART). Under the terms, DoorDash will pay $65.00 per Instacart share, valuing the company's equity at approximately $17 billion. This price represents a 26% premium to Instacart's closing price on October 22, 2026, the last trading day before media reports of potential talks emerged.
The transaction consideration will be at least 75% cash, with Instacart stockholders able to elect cash, DoorDash stock, or a combination, subject to a cap ensuring stock does not exceed 25% of the aggregate consideration. DoorDash intends to fund the cash portion with existing cash and debt financing, having secured a 364-day senior unsecured bridge loan commitment from JPMorgan Chase Bank. The deal is expected to close in late 2027 or the first half of 2028, contingent upon shareholder approval and regulatory clearances, including the expiration of the Hart-Scott-Rodino Antitrust Improvements Act waiting period.
DoorDash CEO Tony Xu stated that the combined entity would leverage DoorDash's delivery network and Instacart's grocery technology to help local retailers compete online. Instacart CEO Chris Rogers emphasized that the merger would create new opportunities for retail partners and provide a more seamless experience for households. However, the American Economic Liberties Project has called on the US Federal Trade Commission (FTC) to block the merger, arguing it would harm businesses, workers, and consumers.