DoorDash to acquire Instacart for $17B
DoorDash announced on Thursday that it has agreed to acquire rival Instacart for $17 billion. The acquisition would bring two major players in on-demand delivery under one roof, combining DoorDash’s dominance in restaurant takeout with Instacart’s reach in grocery delivery.
DoorDash will buy Instacart for a total value of $65 for each Instacart share, the company said. The deal has been approved by the boards of both companies.
“Over the last 14 years, Instacart has transformed online grocery by helping retailers of all sizes compete and grow, and joining forces with DoorDash allows us to do even more,” said Instacart CEO Chris Rogers in a press release.
“When our purpose-built grocery technology and trusted retailer and brand relationships are combined with DoorDash’s global consumer reach and logistics capabilities, we can create new opportunities for our retail and brand partners, offer an even better experience for customers and shoppers, and...
Copyright of this story solely belongs to techcrunch.com. To see the full text click HERE
