DoorDash agrees to acquire Instacart for about $17 billion

DoorDash Inc. and Maplebear Inc., which operates Instacart, announced Thursday a definitive agreement under which DoorDash will acquire Instacart for $65.00 per share, an equity value of approximately $17 billion, according to the companies' announcement.

The announcement follows media reports earlier this week that the two companies were in advanced talks.

Deal terms

The companies said the $65.00 price represents a 26% premium to Instacart's closing price on Oct. 22, 2026, the last trading day before media reports about a possible transaction.

Total consideration will be at least 75% cash. Instacart stockholders can elect to receive $65.00 in cash, 0.3372 DoorDash shares, or a mix of $48.75 in cash and 0.0843 DoorDash shares per Instacart share, subject to proration so that DoorDash stock does not exceed 25% of total consideration.

Instacart's board unanimously approved the agreement, and stockholders holding about 19% of Instacart's outstanding shares have agreed to vote in favor, the companies said.

Timing and approvals

The transaction is expected to close at the end of 2027 or in the first half of 2028, subject to Instacart stockholder approval, expiration of the Hart-Scott-Rodino waiting period, other regulatory approvals including in Canada and Israel, and customary closing conditions.

DoorDash disclosed in an SEC filing that the merger agreement was signed on Oct. 28, 2026.