Instacart has held preliminary talks about selling itself, according to reports from The Information and Bloomberg. The grocery delivery company approached DoorDash and Uber about a possible acquisition, though talks remain at an early stage and may not lead to a deal.
The reports sent Instacart's stock up more than 9% on Friday, while shares of Uber and DoorDash both declined. A sale to either company would mark one of the biggest consolidations in the grocery delivery market.
Instacart sale talks: what we know
The Information reported Friday that Instacart has hired an investment bank to help it evaluate its options, and that it has held acquisition talks with DoorDash. Bloomberg later reported that Instacart has also spoken with Uber — although Uber reportedly walked away from those discussions.
Instacart has not commented publicly on the reports. TechCrunch has reached out to the company for comment, but no response has been published.
- Market cap: more than $13 billion
- Year-to-date stock gain: 25%
- Friday stock move: up more than 9.2%
- Reported talks: DoorDash (via The Information), Uber (via Bloomberg)
- Investment bank hired to evaluate options, per The Information
