DoorDash agrees to buy Instacart for about $17 billion

[The Information] DoorDash said it agreed to buy grocery delivery app Instacart for roughly $17 billion, mostly in cash financed by borrowing. According to people familiar with the matter, DoorDash and Instacart rushed to seal the deal at a roughly 30% premium to where Instacart shares traded before The Information reported the companies were in talks, and aimed to sign before both reported quarterly earnings; both reported today instead. A deal could take a year or longer to close. DoorDash leaders had over the years considered buying Instacart to bolster grocery sales, the people said. Uber, which had also talked to Instacart about an acquisition, pulled away from the talks in September, people close to Uber said. Instacart's annual revenue growth has slowed to 11% in 2025, while third-quarter sales rose 17%, according to its earnings report today. According to eMarketer, Walmart accounted for nearly 32% of U.S. online grocery sales in 2025 and Amazon almost 23%.