DoorDash in advanced talks to buy Instacart for about $17 billion, and DoorDash stock drops 6%

DoorDash is in advanced talks to acquire Instacart in a deal that could value the grocery-delivery company at about $17 billion, a source familiar with the matter told Reuters on Monday. The Wall Street Journal reported the same talks. Reuters' source said a deal could be finalized as soon as Wednesday, with no guarantee it comes together, and that Instacart's talks with Uber are no longer active. Instacart declined to comment, and DoorDash and Uber did not immediately respond to Reuters.

What the market did with it

According to Nasdaq quote data, Instacart (ticker CART, parent Maplebear) closed at $60.88, up $4.44 or 7.87%. DoorDash closed at $168.44, down $10.94 or 6.10%. In after-hours trading at 7:30 p.m. ET, CART was at $61.20 and DASH at $168.46, so the after-hours session added little.

The gap between the two moves is the story. Reuters put Instacart's market value at about $13 billion at Friday's close, before it rose roughly 8%. A $17 billion price is therefore about 31% above Friday's value (our arithmetic from Reuters' rounded figures), and about 21% above where Instacart's own move on Monday left it. Traders marked the target up toward the offer but not all the way, which is how a market usually prices a deal that is likely but not signed. Marking the buyer down 6% says investors are asking what DoorDash pays for, and what it has to spend to integrate it.

Why DoorDash wants it

Reuters framed the move as part of a push by delivery companies to grow beyond restaurant orders, noting that DoorDash bought Deliveroo and Uber acquired Postmates and Delivery Hero. Instacart brings grocery retailer relationships and an established marketplace, which DoorDash could pair with its own courier network and customer base. MarketWatch reported that analysts see the logic as keeping pace with Walmart and Amazon in grocery delivery.

One detail from the same day: Instacart said in a regulatory filing that it will wind down its Caper Cart smart-shopping-cart business by the end of the second quarter of 2027, with pre-tax charges of $55 million to $80 million, according to Reuters. Neither company has linked the wind-down to the sale talks.

Who it actually hits

Independent restaurants. Restaurants pay these apps commissions. A deal would not change a restaurant's contract overnight, and nothing in the reports says it would. But a restaurant owner who leans on delivery should note that one company would then hold more of the customer relationship, which is the thing that gives a platform pricing power over time. We count 605,380 independent restaurants in our business data, and each negotiates alone against these platforms.

Independent grocers and specialty food shops. Instacart is a sales channel for many of them as well as for the big chains. CheckThisBiz lists 109,039 independent grocery businesses. Their question is the same: if the two leading apps merge, what happens to the fees and the placement a small grocer gets. The reports do not answer that, and neither company has said.

Couriers and shoppers. Fewer large platforms usually means fewer places to pick up work. No figures on that exist yet for this deal, so we are not guessing.

What to watch

• Whether a signed deal is announced Wednesday, and the price per share and the mix of cash and stock, none of which the reports give.
• Antitrust review. Neither report discusses it, and we have not seen a regulator comment.
• Any pricing or commission notice to restaurants and grocers after a deal. Small operators should read those closely rather than assume nothing changes.

Until there is a signed agreement, this is talks, not a deal. Both reports rely on a single unnamed source, and the price could change or the talks could end.

Sources: Reuters via the New York Post; WSJ; MarketWatch; Nasdaq quote data at 7:30 p.m. ET October 26, 2026; CheckThisBiz independent business counts. This is market information, not investment advice.