DoorDash nears $17 billion Instacart deal, CNBC reports
What's new: CNBC reported the companies could move as early as Thursday, a tie-up that may draw antitrust scrutiny in online grocery delivery.
DoorDash is nearing a deal to acquire Instacart for about $17 billion, CNBC reported, citing people familiar with the matter. The report said the companies could move as early as Thursday morning. A combination would deepen DoorDash's reach in online grocery delivery, expanding beyond its food-delivery roots and broader retail marketplace. Instacart, which went public in 2023 after booming during the pandemic, has faced tougher competition from Amazon and Walmart as both push harder into same- and next-day grocery delivery. CNBC said DoorDash shares rose more than 8% in premarket trading after the news, while Instacart traded about flat. Analysts have also warned a tie-up could face antitrust questions because of overlap in online grocery.