Instacart shares closed up 9.21% at $56.44 on Friday after The Information reported that the grocery-delivery company is exploring a sale. The outlet said Instacart, legally named Maplebear, has held preliminary talks with potential buyers including Uber and DoorDash. No deal has been signed or announced, and the stock closed just under its 52-week high of $57.98.
Bloomberg then reported that Uber walked away from the discussions, citing one person familiar with the matter. That shifts the question from who might buy Instacart to whether either named suitor is still in play.
What The Information and Bloomberg actually reported
The Information said Instacart has worked with an investment bank to evaluate its options. It described the talks with Uber and DoorDash as early and ongoing and said they may not result in a deal, as carried in a Bloomberg report through the Spokesman-Review. Reuters also reported the core account, and Instacart declined to comment when Reuters reached it. Uber and DoorDash did not immediately respond.
The original report did not say Uber had withdrawn. That detail came from Bloomberg, which cited a single source. Bloomberg's headline, as indexed by Finviz, said Maplebear explored a sale and approached Uber, but the talks ended.
Neither Instacart, Uber nor DoorDash has confirmed the reports in a public statement, as far as the coverage reviewed shows. Uber has not said why it stepped back, according to Yahoo Finance. Treat the exit as a single-source report until one of the companies speaks.
Why Uber stepped back and where DoorDash stands
Investors marked down both potential buyers. Uber's shares fell about 3.4% and DoorDash declined about 3.5% on Friday, according to Analytics Insight. The reports did not explain the drop, but the move suggests the market saw an Instacart acquisition as a cost or risk for its suitors rather than an obvious win.
Uber and Instacart already work together. In 2024, Instacart struck a deal to offer restaurant delivery powered by Uber Eats through its grocery app. Last year, Uber began using Instacart's Carrot Ads technology to offer sponsored grocery placements on Uber Eats, according to AOL's coverage of the report. A sale would turn that partnership into a question of ownership.
DoorDash is the murkier case. The Information's reporting still places DoorDash among potential buyers, but the status of those talks and whether DoorDash would bid remain unconfirmed. History matters here. Antitrust concerns helped derail DoorDash's 2021 discussions to acquire Instacart at a valuation of $40 billion to $50 billion, the outlet previously reported. The talks broke down partly over concerns about securing regulatory approval during the Biden administration.
What an Instacart sale could be worth
Instacart had a market value of about $12 billion as of Thursday's close, before the reports. Friday's gain of $4.76 lifted the stock from $51.68 to $56.44. The table below puts the key figures in one place.
| Measure | Figure |
|---|---|
| Market value before the reports (Oct. 22 close) | About $12 billion |
| Oct. 23 close | $56.44, up 9.21% |
| 52-week high | $57.98 |
| Pre-report close | $51.68 |
| Uber and DoorDash on Oct. 23 | Down about 3.4% and 3.5% |
Coverage has put the potential price at roughly $16 billion to $17 billion, based on a typical takeover premium of 30% to 40%. Applying the same premium range to the $12 billion base by simple arithmetic gives about $15.6 billion to $16.8 billion, so the headline figure is a rough estimate. Neither Uber nor DoorDash has publicly agreed to pay any amount.
The price tag also signals scale. In July, Uber struck a nearly $15 billion deal to buy Germany's Delivery Hero, according to Reuters via AOL. Consolidation in delivery is already under way, and an Instacart deal would be another large step in that trend.
Antitrust review and the political backdrop
A deal would likely draw federal antitrust review. Both potential buyers compete in grocery delivery, and the combination would bulk up two of the biggest food-delivery platforms in the US while adding to a wave of consolidation. Zak Stambor, an analyst at Emarketer, put the competitive stakes plainly: "Instacart risks getting squeezed between retailers building their own digital channels."
Stambor also said the political climate could make a deal more plausible. The Trump administration has shown "greater willingness" to approve deals, he said, but that approval "could come at the cost of selling off parts of the business." Reuters via KSL carried those remarks.
That trade-off matters for price. Divestitures could reduce what a buyer is willing to pay, according to 24/7 Wall St., so a faster approval path could come with a smaller prize. Antitrust enforcement is active on several fronts. Developers already fear a weak iPhone deal in the Apple antitrust settlement, and Google has asked a court to pause its ad tech trial until a DOJ appeal ends.
What an Instacart sale would mean for shoppers, drivers and retailers
Nothing has been agreed, so nothing changes for customers today. A merger would still reshape the terms people see in their grocery apps. Last year, Instacart lowered the minimum order for free delivery for Instacart+ members to $10 as DoorDash and Uber Eats expanded grocery and convenience delivery, according to Reuters. Under a new owner, decisions about fees, minimums and membership perks could look very different.
Retailers have a stake too. Instacart works with many grocery chains, and a 2023 SEC filing described more than 1,400 national, regional and local retail banners. That figure has not been verified as current, but any change of control would matter to every grocer that depends on Instacart for online orders.
Drivers and shoppers who do gig work through these apps could also feel a merger. This is an inference, not a reported fact: consolidation could change pay or work rules for the people who shop for and deliver orders. Advertising is another area to watch, since Instacart's Carrot Ads already power sponsored placements on Uber Eats.
What to watch before November 5, and what to do now
Three things would move this story forward: a signed agreement, a regulatory filing, or a public statement from Instacart, Uber or DoorDash. 24/7 Wall St. cites November 5 as Instacart's next earnings date, which gives management a natural moment to address the talks.
That outlet also argues that, without a signed agreement or confirming filing before those results, Instacart shares would likely drift back toward their pre-report close of $51.68. Treat that as one outlet's view, not a forecast. Investors in Instacart, Uber and DoorDash should expect event-driven volatility while the talks remain unresolved.
Readers do not need to act yet. If you use Instacart, DoorDash or Uber Eats for groceries, compare delivery fees, membership costs and order minimums across the apps now. That baseline will make any later change easy to measure. Investors should wait for a signed agreement or regulatory filing before treating any price as likely.
The next real signal is whether either buyer moves from preliminary talks to a formal bid, and whether Uber's exit holds. If a deal does emerge, the price, the antitrust path and any divestitures will decide whether customers gain a sharper rival or a larger, more expensive platform.
