01—Abstract
Summary
Summary of the 8-K filed October 29, 2026. Cited figures are marked; the original filing is the authoritative source.
DoorDash, Inc. (DASH) announced on October 29, 2026, that it has entered into a definitive agreement to acquire Instacart (Maplebear Inc.) for an aggregate value of $65.00a per Instacart share.
This transaction, valued at approximately $17 billionb in equity, will be structured with at least 75% cash consideration, allowing Instacart shareholders to elect cash, DoorDash stock, or a combination thereof, subject to proration to ensure DoorDash stock does not exceed 25% of the total consideration. The proposed merger aims to combine DoorDash's extensive delivery network and technology with Instacart's grocery and fulfillment technology, intending to empower local businesses of all sizes to compete more effectively in the growing online commerce landscape.
02—Key points
Key Highlights
- DoorDash to acquire Instacart for approximately $17 billion, valuing Instacart at $65.00 per share, representing a 26% premium over its October 22, 2026 closing price.
- The transaction will be funded with at least 75% cash and up to 25% DoorDash Class A Common Stock, with Instacart shareholders having election options for cash, stock, or a combination.
- The merger is expected to enhance offerings for consumers by providing more choice, faster delivery, and potential savings through combined memberships (DashPass and Instacart+).
- The combined entity aims to provide local grocers and retailers with advanced technology, delivery networks, and advertising tools to better compete with larger online retailers.
- Drivers (Dashers and Shoppers) are expected to benefit from expanded earning opportunities and greater flexibility in choosing work.
- DoorDash has secured a $13.0 billion bridge loan facility from JPMorgan Chase Bank, N.A. to finance the cash portion of the acquisition, with plans to refinance with permanent financing.
- The transaction is subject to customary closing conditions, including regulatory approvals (HSR, Canada, Israel) and Instacart stockholder approval, with an expected closing in late 2027 or the first half of 2028.
03—Questions
Frequently Asked Questions
What is the total value of the DoorDash acquisition of Instacart?
The total equity value of the acquisition is approximately $17 billion, with each Instacart share valued at $65.00.
How will the acquisition be financed?
DoorDash expects to fund the cash portion of the consideration using cash on hand and proceeds from a $13.0 billion senior unsecured bridge term loan facility provided by JPMorgan Chase Bank, N.A. DoorDash plans to replace this bridge facility with permanent financing prior to closing.
What are the conditions for closing the merger?
The merger is subject to customary closing conditions, including the adoption of the merger agreement by Instacart stockholders, expiration of antitrust waiting periods (Hart-Scott-Rodino, Canada, Israel), absence of governmental restraints, approval for listing of DoorDash shares on Nasdaq, and the accuracy of representations and warranties from both parties.
What are the potential benefits for consumers and delivery personnel?
Consumers are expected to benefit from increased store selection, potential savings through combined memberships (DashPass and Instacart+), and faster delivery options. Delivery personnel (Dashers and Shoppers) are anticipated to gain more earning opportunities and flexibility in their work choices.
04—Continue