Instacart is reportedly considering selling itself to a larger competitor, potentially at a time when its market cap exceeds $13 billion and its stock price has risen by 25% for the year. The company is reportedly in talks with DoorDash and Uber, and the news of a potential sale has caused Instacart’s share price to spike more than 9.2% on Friday, while Uber and DoorDash’s stock declined. This could be seen as an opportunity for Instacart to capitalize on its current market position before the grocery delivery market becomes more competitive.
Key points
Instacart is reportedly considering selling itself to a larger competitor.: Instacart is reportedly considering selling itself to a larger competitor.
Its market cap exceeds $13 billion and its stock price has risen by 25% for the year.: Its market cap exceeds $13 billion and its stock price has risen by 25% for the year.
The company is reportedly in talks with DoorDash and Uber.: The company is reportedly in talks with DoorDash and Uber.
Sources checked by our analysis pipeline: 1
Instacart might sell itself to a larger competitor, according to multiple news reports
The Information reported Friday that the grocery delivery company has hired an investment bank to help it evaluate its options, and that it’s held acquisition talks with DoorDash. And Bloomberg reported that the company has also talked to Uber — although Uber reportedly walked away from those discussions.
Instacart currently has a market cap of more than $13 billion, and its stock price is up 25% for the year to date. The company could see this as a good time to sell at a desirable price, before the grocery delivery market gets more competitive — but Bloomberg noted that these are early discussions that might not result in a sale.
TechCrunch has reached out to Instacart for comment. The reports of a potential sale caused the company’s share price to spike more than 9.2% on Friday, while Uber and DoorDash stock declined.
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