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DoorDash is reportedly in advanced talks to acquire food delivery company Instacart in a deal that could value the company at roughly $17 billion.
An agreement could be reached as early as this week, though there is no guarantee the talks will result in a deal, The Wall Street Journal reported Monday, citing people familiar with the discussions.
Investors sent the companies’ shares in opposite directions following the report.
Instacart stock climbed about 8% Monday, while DoorDash shares dropped roughly 6%.
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Instacart was valued at approximately $13 billion before news of the potential transaction surfaced, compared with DoorDash’s market capitalization of about $73 billion, according to The Wall Street Journal.
The acquisition would give DoorDash a larger foothold in the grocery delivery market as it continues expanding beyond its roots in restaurant delivery.
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Instacart previously considered a sale in 2021.
Since then, competition in grocery delivery has intensified as Walmart and Amazon have expanded their offerings, The Wall Street Journal reported.
The potential Instacart deal would come roughly a year after DoorDash completed its acquisition of British food delivery company Deliveroo.
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The transaction became effective in 2025 following court approval, expanding DoorDash’s global footprint and adding Deliveroo’s operations across several international markets.
DoorDash also completed its acquisition of Finnish delivery company Wolt in 2022, an all-stock transaction that expanded the combined company’s presence to 27 countries at the time.
DoorDash and Instacart could not immediately be reached by FOX Business for comment.
