DoorDash is to buy grocery delivery company Instacart for $17 billion, bringing two major delivery platforms under the same ownership.
The deal values Instacart shares at $65 each. DoorDash said the acquisition would help more supermarkets use Instacart’s platform to operate their websites.
Tony Xu, DoorDash’s co-founder and chief executive, said the companies brought complementary strengths to the deal.
“Instacart has spent years learning to do that well for grocers, while DoorDash has built a delivery network and technology that local stores rely on every day,” he said. “Together, we could give stores of every size more of those tools and unlock the potential of grocery delivery.”
