DoorDash agrees to buy Instacart for about $17 billion, with a close not expected until 2027 or 2028

DoorDash announced on October 29, 2026 that it will acquire Instacart (Maplebear Inc.) for $65.00 per share, an equity value of about $17 billion. Instacart holders can choose $65.00 in cash, 0.3372 DoorDash shares, or a mix of $48.75 in cash and 0.0843 DoorDash shares for each Instacart share. The total stock DoorDash issues is capped at 25% of the aggregate consideration, so stock elections are scaled back if too many holders ask for stock. The price is a 26% premium to Instacart's October 22 close, the last trading day before media reports of a possible deal.

Instacart's board approved the agreement unanimously, and holders of about 19% of its shares have agreed to vote in favor. The deal needs Instacart stockholder approval, the end of the US antitrust waiting period, and approvals including in Canada and Israel. DoorDash expects it to close by the end of 2027 or in the first half of 2028.

DoorDash says combined scale and density should speed up grocery delivery and lower fulfillment costs, and that Instacart's software for grocers will strengthen its own offering. It targets more than $500 million of annual synergies, net of investments, over several years, and expects to reinvest more than 100% of them in the first year after closing. The cash part will come from cash on hand and debt, with a 364-day bridge loan commitment from JPMorgan Chase, and the deal is not subject to a financing condition.

The release does not state a termination fee, and it does not say whether the Instacart brand or app will continue.