CART · Maplebear Inc. (Instacart)

Maplebear Inc CART

Operates an online grocery delivery and pickup marketplace connecting customers with retailers and personal shoppers across North America.

Industry
Retail
Listed on
Nasdaq NMS
IPO
2023-09-19
Website
instacart.com

Daily brief

Instacart parent Maplebear to be acquired by DoorDash in $17 billion deal

-2.24% to $57.11 from $58.42

What moved CART

  • Maplebear’s board unanimously approved the definitive agreement to be acquired by DoorDash at $65.00 per share, an equity value of about $17 billion.
  • Shareholders can choose cash, DoorDash stock, or a mix, with a per-share alternative structure of $48.75 cash plus 0.0843 DoorDash shares; stock consideration is capped at 25% of the deal total.
  • The deal follows Wall Street Journal reporting on October 26 that DoorDash was in advanced talks to buy Instacart and that Instacart’s separate talks with Uber were no longer active.
  • Closing is expected in late 2027 or the first half of 2028, pending Instacart shareholder approval and antitrust review.

Sources: SEC filing (DoorDash 8-K) · Wall Street Journal

Daily brief

Instacart extends gains on report DoorDash is nearing a takeover deal

+7.87% to $60.88 from $56.44

What moved CART

  • Instacart shares advanced Monday, extending a sharp gain from the prior session, after the Wall Street Journal reported DoorDash is in advanced, late-stage talks to acquire the company.
  • The move followed an earlier report that Instacart was exploring a sale and had held discussions with several potential buyers, including Uber and DoorDash.
  • No agreement has been confirmed by either company, and the talks could still fall apart, according to the Journal’s sourcing.

Sources: The Wall Street Journal · The Information · Reuters

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