DoorDash is in advanced talks to acquire Instacart parent Maplebear Inc. for roughly $17 billion. A deal could be announced as soon as this week, though discussions might still fall through. On Monday, Maplebear shares rose 7.9% while DoorDash fell 6.1% as competition in the grocery delivery sector continues to grow.
DoorDash Inc. is in advanced talks to acquire Instacart parent Maplebear Inc. for roughly $17 billion, according to people familiar with the matter.
A deal for the grocery app could be announced as soon as this week, said the people, who asked to not be identified because the details are private. No final decision has been made and discussions could fall through.
Representatives for DoorDash and Maplebear didn't immediately respond to requests for comment. The Wall Street Journal first reported on DoorDash's talks to buy Instacart.
Maplebear rose 7.9% to close at $60.88 in New York trading Monday, giving the company a market value of about $14.1 billion. DoorDash fell 6.1% to close at $168.44 for a market value of about $73 billion.
The talks come amid intensifying competition in the the grocery delivery sector. Instacart previously held talks about selling itself to Uber Technologies Inc., Bloomberg News has reported.