Instacart Explores a Sale After Talks With DoorDash and Uber: What It Means

Instacart is exploring a sale of the company and has held early talks with rivals including DoorDash and Uber, according to reports published on Friday, October 23. The news sent Instacart shares up 9.2% to $56.44, while Uber and DoorDash both fell about 3% to 4%.

The grocery delivery pioneer, which trades as Maplebear on the Nasdaq, was worth about $12 billion before the reports. A deal at a typical takeover premium could value it at roughly $16 billion to $17 billion, but any tie-up with a direct rival would face tough antitrust questions in Washington.

For the millions of households that order groceries online, the outcome matters. It could decide who controls the app between shoppers, supermarkets and the people who deliver the bags.

Key facts at a glance

• The report: Instacart has hired an investment bank to review its options and held preliminary talks with DoorDash and Uber, The Information reported on October 23. Reuters and Bloomberg followed with their own coverage.
• Uber has stepped back: Bloomberg reported, citing a person familiar with the matter, that Uber walked away and the two sides are no longer talking.
• The price: Instacart had a market value of about $12 billion. A 30% to 40% premium would imply roughly $16 billion to $17 billion.
• Market reaction: Instacart closed about 9% higher on Friday. Uber fell around 3% and DoorDash about 4%.
• No deal yet: Discussions are early, and there is no guarantee of an agreement. Instacart declined to comment to Reuters.

How Instacart got here

Instacart, which has been running for about 14 years, became a household name during pandemic lockdowns, when online grocery orders surged. In 2021 it was privately valued at $39 billion. That same year it held talks with DoorDash that could have valued it at $40 billion to $50 billion, but those talks collapsed over concerns about winning antitrust approval from the Biden administration.

The company listed its shares in 2023 at a $10 billion valuation, after delivery demand cooled. Since then, growth has lagged its bigger rivals. Instacart's revenue rose 11% in both 2024 and 2025, down from 19% in 2023, according to Stocktwits' analysis of the report. DoorDash grew revenue 28% in 2025, and Uber's total revenue climbed 18%.

Competition has also intensified. DoorDash and Uber Eats keep expanding into grocery and convenience delivery. Amazon is growing Amazon Now, a service that promises groceries and essentials in 30 minutes or less, Reuters reported.

Why Instacart might sell now

On paper, Instacart is not a company in trouble. In its second-quarter 2026 results, released on August 6, it reported:

Gross transaction value, or GTV, is the total value of goods sold through the platform, including fees and tips. Chief executive Chris Rogers said at the time that the business was "performing incredibly well" and that growth had "meaningfully accelerated" over three quarters.

So why sell? The main reason is scale. Instacart runs a marketplace that connects shoppers with retailers, but DoorDash and Uber each run much larger delivery networks across restaurants, convenience and, increasingly, groceries. Bloomberg noted that a sale to a bigger rival could be the company's best path to delivering returns for shareholders and securing its long-term future.

Zak Stambor, an analyst at Emarketer, told Reuters that Instacart "risks getting squeezed between retailers building their own digital channels and larger platforms that can bundle grocery with other services." He added that a deal "could provide the resources and reach to compete more effectively than it could on its own."

Instacart has also been leaning on perks to hold customers. Last year it cut the minimum order for free delivery for Instacart+ members to $10, as rivals pushed deeper into the same baskets.

The likely buyers and what they want

DoorDash is the most obvious suitor. It already tried once in 2021, and it has been on an acquisition run. It bought European delivery service Wolt for $8 billion in 2022, then acquired British delivery company Deliveroo and hospitality software platform SevenRooms last year. Adding Instacart would give it deep ties with grocers and a large advertising business.

Uber has closer commercial links with Instacart, including a partnership that lets customers order from Uber Eats through the Instacart app. But Uber is busy. In July it struck a deal worth nearly $15 billion to buy Germany's Delivery Hero, and it also agreed to buy workplace catering firm Fooda. According to Bloomberg, Instacart recently shopped itself to Uber, but Uber walked away and the two are no longer in discussions.

That leaves the field less clear than Friday's headlines suggested. The Information's report said talks with other companies were early and ongoing. No other bidder has been named publicly.

timeline
    title Instacart and the delivery deal race
    2021 : DoorDash talks at a reported 40 to 50 billion dollar value collapse over antitrust worries
    2022 : DoorDash buys Wolt for 8 billion dollars
    2023 : Instacart lists shares at a 10 billion dollar valuation
    July 2026 : Uber agrees a nearly 15 billion dollar deal for Delivery Hero
    Oct 23 2026 : Reports say Instacart is exploring a sale
    Nov 5 2026 : Instacart due to report third-quarter results

The antitrust hurdle

Any purchase by DoorDash or Uber would combine two of the biggest delivery platforms in the US, and regulators would look closely. Both companies already sell groceries, so a merger would remove a direct competitor.

There is another view. Stambor told Reuters the deal is plausible because the Trump administration has shown "greater willingness" to approve mergers, even if that "could come at the cost of selling off parts of the business." Requiring a buyer to divest some assets is a common condition for approval.

Still, the 2021 precedent hangs over any talks. A buyer would need to weigh a long review and possible forced sales against the benefit of owning Instacart's retailer relationships.

What it means for you

If you order groceries through Instacart, nothing changes today. Orders, Instacart+ memberships and prices stay as they are while talks continue. If a deal happens, it would likely take many months to close, given the regulatory review.

Over time, a merger could mean fewer competing apps. That can bring bundled memberships and wider choice in one place, but it can also reduce the pressure that keeps delivery fees and service charges in check.

If you shop as an Instacart worker, a sale could eventually change pay structures, app rules or benefits, depending on the buyer. Nothing has been announced on that front.

If you invest, Friday's 9% jump already prices in some chance of a deal. Instacart's market value of about $12 billion before the reports sits well below the $16 billion to $17 billion range a typical premium would imply, but there is no guarantee any offer arrives. Uber and DoorDash shares fell on worries about deal cost and regulatory risk.

In the UK, the bigger story is the buyers. DoorDash now owns British delivery company Deliveroo, so a larger DoorDash would bring more scale and money to its UK business too. Readers in Australia and elsewhere should watch how the same consolidation plays out across global delivery apps.

What happens next

• Instacart's third-quarter results are due after market close on Thursday, November 5, 2026, with a call at 5:00 p.m. Eastern, according to the company's investor relations site. Analysts will press management on the sale reports.
• DoorDash's next move is the biggest open question. It has not commented publicly.
• Other bidders could emerge, since talks with other companies are described as early and ongoing.
• Regulators would only formally review a deal once one is signed and filed.

FAQ

Is Instacart being sold?

Not yet. Reports say it is exploring a sale and has held early talks, but no deal has been agreed.

Who might buy Instacart?

DoorDash and Uber were named. Bloomberg reported that Uber has since walked away.

Will my Instacart+ membership change?

Not for now. Any changes would come only after a completed deal.

Conclusion

Instacart is growing and profitable, yet it is weighing a sale because its rivals are larger and moving faster into groceries. Whether a deal happens depends on DoorDash or another buyer, and on regulators.

Here is what to do now:

1. Shoppers: keep using your current service, but compare delivery fees across apps before renewing any annual membership.
2. Investors: treat the 9% jump as deal speculation, and watch the November 5 results call for any comment on strategy.
3. Workers: keep track of any changes in app terms, and save records of your earnings in case pay structures change later.
4. Everyone: follow official statements from Instacart, DoorDash and Uber rather than social media rumours, since talks this early often change course.