Instacart is reportedly seeking a sale, with its stock surging over 9%! DoorDash is among the potential buyers, while Uber has withdrawn.
Instacart, the grocery delivery company, is reportedly evaluating sale options and has held preliminary talks with potential buyers, including Uber and DoorDash, according to Bloomberg and The Information. Following the news, Instacart closed up 9.21% on Friday, with a market capitalization of approximately $13.4 billion. However, Uber has withdrawn from negotiations, while DoorDash remains a potential buyer. The market reacted to the antitrust risks and acquisition costs faced by potential acquirers, with Uber's stock closing down 3.4% and DoorDash's down 3.5%. Analysts estimate that Instacart's acquisition valuation could range between $16 billion and $17 billion, assuming a 30% to 40% premium, but any deal would face severe antitrust scrutiny.
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