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Samreen Ahmad · · 1 min readDoorDash held talks to buy Instacart for up to $50b
“DoorDash held talks to buy Instacart over the past two months for a price that likely would have been between US$40 billion and US$50 billion. But the talks fell apart in recent weeks, at least partly due to questions about whether a combination could get approval from antitrust regulators, which, under the Biden administration, are taking a hard line toward most mergers,” The Information reported, citing sources.
Details:
- The deal would have combined a prominent restaurant delivery platform with a leading grocery delivery service.
- Instacart had also separately initiated talks with Uber about a sales partnership, like Uber’s tie-up with food delivery service Gopuff. These talks have also failed to push through.
Dive deeper:
- According to a Fortune report, Instacart currently controls 67% of the US grocery pickup and delivery business. It also has a presence in India through a grocery shopping platform called India Bazaar.
- Expanding beyond restaurant delivery is critical for Uber Eats and DoorDash, which have struggled to make a profit on the slim margins they get from restaurants.
Editing by Collin Furtado and Jaclyn Tiu
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