Instacart in Talks With Uber and DoorDash Over a Possible Sale, Shares Jump About 9% on Friday
SAN FRANCISCO — Instacart is exploring a possible sale and has held preliminary discussions with potential buyers including Uber and DoorDash, The Information reported on Friday, October 23, citing people familiar with the matter. Shares of Instacart closed about 9% higher on Friday. Reuters and Bloomberg both relayed the report.
Instacart had a market value of about $12 billion as of Thursday's close. A typical takeover premium of 30% to 40% would value the company at roughly $16 billion to $17 billion, based on recent public technology deals, the report said. Discussions are ongoing with no guarantee of a deal, the report added. Instacart declined to comment when contacted by Reuters, while Uber and DoorDash did not immediately respond. Shares of Uber closed down around 3% and DoorDash about 4% lower on Friday.
A takeover by Uber or DoorDash could bolster the buyer's online grocery delivery ambitions by combining Instacart's established marketplace and retailer ties with its own vast delivery network and customer base. But either deal could draw antitrust scrutiny, Reuters noted, as it would bulk up two of the biggest food-delivery platforms in the US and add to a wave of consolidation: in July, Uber struck a nearly $15 billion deal to buy Germany's Delivery Hero. "Instacart risks getting squeezed between retailers building their own digital channels and larger platforms that can bundle grocery with other services," Emarketer analyst Zak Stambor said. "For Instacart, a deal could provide the resources and reach to compete more effectively than it could on its own." Last year, Instacart lowered its minimum order for free delivery for Instacart+ members to $10, as rivals DoorDash and Uber Eats expand grocery and convenience delivery, and Amazon expands its 30-minute Amazon Now service.
(GSM, from Reuters, October 23; the sale talks were reported by The Information citing people familiar with the matter, and no deal is confirmed)
Source: GSM · USA (original Chinese edition)
Photo: 美国超市生鲜货架，资料图。照片：Pokemonprime，CC BY 4.0，经 Wikimedia Commons
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