Instacart reportedly discussed selling itself with DoorDash and Uber
Instacart has reportedly hired an investment bank to explore a potential sale, with discussions held with DoorDash and Uber. While Uber has reportedly walked away, the news caused Instacart's stock price to rise significantly.
Why it matters
Consolidation in the grocery delivery sector could significantly alter the competitive landscape of the gig economy and last-mile logistics.
Instacart might sell itself to a larger competitor, according to multiple news reports
The Information reported Friday that the grocery delivery company has hired an investment bank to help it evaluate its options, and that it’s held acquisition talks with DoorDash. And Bloomberg reported that the company has also talked to Uber — although Uber reportedly walked away from those discussions.
Instacart currently has a market cap of more than $13 billion, and its stock price is up 25% for the year to date. The company could see this as a good time to sell at a desirable price, before the grocery delivery market gets more competitive — but Bloomberg noted that these are early discussions that might not result in a sale.
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