• DoorDash (DASH) is reportedly in advanced discussions to buy Instacart (CART), with a deal potentially finalized as soon as this week, according to people familiar with the matter.
  • A reported valuation range of $16 billion–$17 billion implies a 30%–40% premium to Instacart’s roughly $12 billion market value, though no offer price has been confirmed.
  • Antitrust scrutiny looms large over a combination of two major grocery-delivery players, even as both companies remain profitable and growing.

Talks Said to Be Advanced

DoorDash Inc. is in advanced talks to acquire Instacart, the grocery-technology company legally known as Maplebear Inc., according to people familiar with the matter. A deal could be finalized as soon as this week, these people said, though no definitive agreement has been signed and the timing remains fluid.

The reported discussions follow earlier outreach by Instacart to potential buyers, including both DoorDash and Uber Technologies Inc. Uber has since walked away from the process, leaving DoorDash as the principal named suitor. Instacart has reportedly hired an investment bank to evaluate strategic options, including a sale.

Representatives for Instacart declined to comment, while DoorDash and Uber did not immediately respond to requests for comment.

The two sides are said to be discussing a valuation in the $16 billion–$17 billion range, according to people familiar with the matter. That range appears to be based on applying a hypothetical 30%–40% takeover premium to Instacart’s approximately $12 billion market value, rather than a disclosed offer or negotiated purchase price.

A deal of that size would rank among the largest in the global delivery sector this year and would mark a significant expansion of DoorDash’s grocery ambitions beyond its core restaurant marketplace.

Two Growing, Profitable Businesses

Both companies enter the reported talks from positions of strength, making a distress sale unlikely.

DoorDash reported second-quarter 2026 revenue of $4.454 billion, up 36% year over year, with 970 million orders and gross order value of $33.078 billion. GAAP net income was $200 million, and adjusted EBITDA rose 40% to $914 million. Free cash flow totaled $742 million. Excluding the Deliveroo (ROO.L) acquisition, revenue growth was 24%.

Instacart, for its part, posted Q2 revenue of $1.043 billion, up 14%, with 90.3 million orders and gross transaction value of $10.351 billion. GAAP net income was $111 million, adjusted EBITDA rose 19% to $313 million, and free cash flow reached $480 million. Advertising and other revenue grew 16% to $297 million, underscoring the strategic value of its retail-media business.

Instacart works with more than 2,200 retail banners representing nearly 100,000 stores—infrastructure and advertising assets that would be central to any acquisition rationale.

Antitrust Hurdle Looms

Even if the companies agree on terms, regulatory scrutiny remains a central potential obstacle. DoorDash already competes in grocery delivery, and buying Instacart would remove an independent competitor while creating a stronger challenger to Amazon (AMZN) and Walmart (WMT).

The key debate would likely center on whether operating efficiencies and stronger competition against large retailers outweigh reduced competition between delivery platforms. Potential issues include consumer fees, retailer bargaining power, and access to competing delivery services.

Analysts have noted that the current administration has shown greater willingness to approve deals, potentially with asset sales. DoorDash discussed acquiring Instacart in 2021 at a reported valuation of $40 billion–$50 billion, but those talks collapsed partly due to antitrust concerns under the previous administration.

The strategic logic of a combination is to pair DoorDash’s delivery network and customer reach with Instacart’s grocery relationships, advertising capabilities, and retailer technology. DoorDash has said DashPass members generated roughly 75% of its U.S. grocery and retail orders in the second quarter, suggesting cross-selling opportunities.

DoorDash is also in the midst of reorganizing some international operations and building a single global technology platform, expected to be fully rolled out in the first half of 2027—an integration effort that would grow more complex with another major acquisition.

Investors will get more clarity in the coming days. DoorDash is expected to report third-quarter results on November 4, followed by Instacart on November 5. Instacart previously guided to Q3 gross transaction value of $10.3 billion–$10.55 billion and adjusted EBITDA of $320 million–$340 million.

For now, the reported talks remain just that. A formal agreement would still need to clear regulatory review, and the “this week” timeline is a source-based possibility rather than a confirmed schedule.

Correction: An earlier version of this article misstated the quarter for DoorDash and Instacart financial results. Both companies’ latest reported figures are for the quarter ended June 30, 2026.