DoorDash to buy Instacart for about $17 billion; Thrive to acquire ADT for $7.6 billion

[The Information] DoorDash CEO Tony Xu on Thursday finally picked up Instacart, with DoorDash saying it would pay about $17 billion for the grocery-delivery business, according to The Information. Instacart founder Apoorva Mehta said on X that he and Xu had long discussed such a transaction. The Information reported in 2021 on talks between the two companies, when DoorDash at one point considered buying Instacart for more than $40 billion. Instacart sales grew 17% in the third quarter and it generated more than $300 million in cash in that period, a 13% increase. Also on Thursday, Josh Kushner's newly formed Thrive Holdings agreed to buy home security systems maker ADT for $7.6 billion. New York City Mayor Zohran Mamdani criticized the DoorDash-Instacart deal in a post on X on Thursday, saying such moves often bring higher prices for consumers and harsher exploitation for workers.