Instacart, a US-based grocery delivery company, has reportedly held sale talks with DoorDash and Uber. Instacart also reportedly hired an investment bank to review its options.

Uber had walked away from the discussions, and the talks were at an early stage and might not result in a sale, the reports said.

An Instacart spokesperson declined to comment.

At the time of the reports, Instacart had a market value of more than US$13 billion. Its shares jumped more than 9.2% on Friday after the reports, while shares in Uber and DoorDash fell.

Instacart’s September 2023 initial public offering valued it at US$9.9 billion. The shares opened at US$42.

DoorDash has been gaining ground in grocery delivery, while Uber Eats is also expanding into broader retail delivery.

🔗 Source: TechCrunch

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