DoorDash Announces Acquisition of Instacart for Approximately $17 Billion

DoorDash and Instacart announced that they have entered into a definitive agreement under which DoorDash will acquire Instacart for $65.00 per share, representing approximately $17 billion in equity value, a 26% premium to Instacart's closing price on October 22, 2026. At least 75% of the transaction consideration will be in cash, and Instacart shareholders may elect to receive cash, DoorDash stock, or a combination of both, with DoorDash stock not exceeding 25% of the total consideration; Instacart's board of directors has unanimously approved the transaction. The transaction is expected to close in late 2027 or the first half of 2028, subject to approval by Instacart shareholders and regulatory approvals in the United States, Canada, Israel, and other jurisdictions; a shareholder holding approximately 19% of the shares has agreed to vote in favor.