DoorDash to Acquire Instacart for $17 Billion

DoorDash, Inc. (DASH) entered into a merger agreement on October 29, 2026, to acquire Maplebear Inc. (CART) in a deal valued at $17 billion.

Deal Structure:

Instacart stockholders will have the right to elect to receive, for each Instacart share:

• $65 in cash,
• 0.3372 shares of DoorDash common stock, or
• a mix of $48.75 in cash and 0.0843 shares of DoorDash common stock.

In each case, subject to a cap on the total stock consideration issuable by DoorDash equal to 25% of the aggregate consideration and certain proration mechanics.

The cash consideration of $65 is at a premium of 11.26% over the stock’s last close.

Company Profile:

Maplebear is a grocery technology company operating under the Instacart brand that connects consumers with retailers through an online marketplace for grocery delivery and pickup across the United States and Canada. It also provides e-commerce and fulfillment technology, in-store solutions, and digital advertising services to grocery retailers and consumer packaged goods brands.

DoorDash is an on-demand delivery and local commerce platform that connects consumers with restaurants, grocery stores, and other retailers across the United States and international markets through its DoorDash and Wolt platforms. The company generates revenue primarily from merchant commissions, consumer delivery and service fees, advertising, and technology-enabled ordering and fulfillment services.

Deal Details and Timeline:

Last week, Bloomberg reported that Instacart had explored a potential sale of the grocery-delivery company, a process that had included discussions with Uber Technologies (UBER). The stock was trading at $51.68 when it was revealed that Instacart also held preliminary talks with DoorDash as part of a potential sale process, according to the Information.

Following the closing of the deal, DoorDash is expected to retain Instacart’s brand, enterprise technology products, and app.

DoorDash plans to fund the cash portion of the deal using its available cash and borrowed funds. It has secured a financing commitment from JPMorgan Chase for a 364-day unsecured bridge loan to support the debt needed for the transaction.

The transaction is expected to close at the end of 2027 or in the first half of 2028.

Goldman Sachs served as financial advisor to Instacart, with Cravath, Swaine & Moore and Cooley acting as its legal advisors. Centerview Partners and J.P. Morgan Securities served as financial advisors to DoorDash, while Latham & Watkins provided legal counsel.

DoorDash has agreed to pay 20.60 times EBITDA for Instacart.

Deal Metrics:

For in-depth information regarding this merger and acquisition, please visit the Deal Metrics page here:
Deal Metrics for the acquisition of Maplebear Inc. (CART) by DoorDash, Inc. (DASH)

The Deal Metrics page for each merger or acquisition includes:

– A spread history chart of the merger from announcement through eventual completion or failure.
– Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
– News and SEC filings.
– A history of deal updates.
– And a whole lot more.

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Editor’s Note: Baranjot Kaur contributed to this article