Instacart in Talks to Be Acquired by Uber or DoorDash

Instacart is reportedly exploring a potential sale and has engaged in preliminary discussions with Uber and DoorDash regarding a takeover. The grocery delivery company, currently valued at approximately $12 billion, is being assisted by an investment bank in evaluating its options, according to a report by The Information.

A potential acquisition could range from $16 billion to $17 billion if a buyer were to offer a premium of 30% to 40%, an estimate derived from recent public technology deals.

This development occurs as both Uber and DoorDash have been expanding their grocery delivery services and pursuing significant acquisitions within the food delivery sector. An Instacart representative declined to comment on the report.

Acquisition by either Uber or DoorDash could face antitrust scrutiny due to their existing grocery delivery operations. Similar antitrust concerns previously contributed to the collapse of DoorDash's 2021 discussions to acquire Instacart, which was then valued at $40 billion to $50 billion. Those talks reportedly faltered partly due to worries about obtaining regulatory approval under the current administration.

Instacart and Uber have collaborated in the past, establishing a deal in 2024 for Instacart to offer restaurant delivery through Uber Eats on its grocery app. Last year, Uber began integrating Instacart's Carrot Ads technology to feature sponsored grocery placements on Uber Eats.

Earlier discussions between Uber and Instacart did not progress as Uber focused on other acquisitions, The Information noted.

Instacart's efforts to grow its advertising revenue have not yet closed the gap with Uber and DoorDash in terms of revenue growth. The company reached a valuation of $39 billion during a 2021 private funding round, buoyed by the pandemic-driven surge in grocery delivery. By the time of its public offering in 2023, its valuation had fallen to around $10 billion.

Since its IPO, Instacart's shares have seen a roughly 70% increase. Its revenue growth, however, slowed from 19% in 2023 to 11% in the subsequent two years. In the second quarter, Instacart reported $480 million in free cash flow and a 14% year-over-year revenue increase to just over $1 billion. The company has indicated plans to use most of its free cash flow this year for share repurchases.

In comparison, DoorDash reported a 28% revenue increase in 2025, while Uber, which also operates a ride-hailing service, saw an 18% increase. DoorDash, valued at approximately $80 billion, acquired Deliveroo and the restaurant software firm SevenRooms in 2025. This followed its approximately $8 billion purchase of the European delivery platform Wolt in 2022. Uber, with a market value around $135 billion, has recently agreed to acquire Delivery Hero for roughly $15 billion and the workplace catering service ezCater for over $2 billion.

The report suggests that Uber's recent acquisition activity could potentially complicate its pursuit of Instacart. As of now, Instacart's talks with potential buyers have not resulted in an agreement, and the likelihood of a sale remains uncertain.