Instacart has talked with DoorDash and Uber about a sale, reports say
The Information reported Friday that Instacart hired a bank and talked with DoorDash. Bloomberg said Uber walked away. The stock rose more than 9 percent that day.
The Information reported on Friday that Instacart had hired an investment bank and held acquisition talks with DoorDash, TechCrunch wrote. Bloomberg reported that Instacart also talked with Uber and that Uber walked away. Instacart's market value was above $13 billion and the stock was up 25 percent for the year. The sale reports sent Instacart shares up more than 9.2 percent on Friday, while Uber and DoorDash shares declined. An Instacart spokesperson declined to comment. Maplebear, which operates Instacart, lists its offices at 50 Beale Street in San Francisco.
Instacart's market value was above $13 billion, and the stock was up 25 percent for the year. TechCrunch noted the company could see this as a moment to sell before grocery delivery gets more competitive, while Bloomberg said the conversations are early.
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