DoorDash Agrees to Buy Rival Instacart in $17 Billion Deal
Summary
DoorDash Inc. has agreed to buy rival Instacart in a deal that values the company at about $17 billion. Bloomberg reports that the transaction is expected to close near the end of next year and that the deal is still pending. DoorDash says it will keep Instacart's brand, technology products and app. CNET reports that DoorDash plans to acquire the grocery delivery service in the $17 billion deal and that, when the deal is complete, both companies are expected to continue operating separately.
Timeline
Bloomberg
Source ↗Reports that DoorDash agreed to buy rival Instacart in a deal valuing the company at about $17 billion, with closing expected near the end of next year, the deal still pending, and DoorDash saying it will keep Instacart's brand, tech products and app.
CNET
Source ↗Reports that DoorDash plans to acquire grocery delivery service Instacart in a $17 billion deal and that both companies are expected to continue operating separately once the deal is complete.

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