DoorDash announced that it will acquire Instacart for approximately $17 billion. The purchase price is $65 per share, representing a 26% premium to the closing price. At least 75% will be paid in cash. The transaction is expected to close between the end of 2027 and the first half of 2028, subject to shareholder approval, and Instacart’s brand and app will remain in place after the acquisition.
DoorDash, a major US transportation and delivery company, announced that it will acquire rival Instacart for approximately $17 billion. The acquisition price is $65 per share, representing a 26% premium to the closing price. At least 75% of the purchase price will be paid in cash, and Instacart shareholders will be able to choose cash, DoorDash shares or a combination of the two.
The acquisition is expected to close between the end of 2027 and the first half of 2028, subject to approval by Instacart shareholders. Instacart’s brand, technology and app are expected to remain in place after completion.
In conjunction with the announcement, DoorDash moved up its quarterly earnings call and announced that revenue, net income and gross order value had all reached record highs. The parties were also reported to have agreed to pay approximately $131.5 million to settle claims over unpaid compensation for delivery workers.
The assets of Instacart founder Apoorva Mehta (アプールバ・メータ) reached approximately $1.3 billion that day. Mehta founded the company in 2012, and it went public in 2023.