Grocery delivery giant Instacart has held preliminary discussions with Uber and DoorDash about a potential sale, The Information reported Friday.
An investment bank is helping Instacart, which is worth about $13 billion, assess its options, according to the report, which cited people familiar with the matter.
A takeover could fetch roughly $16 billion to $17 billion if a buyer pays a 30% to 40% premium, an estimate based on recent public tech deals.
The potential sale comes as Uber and DoorDash expand their grocery delivery businesses and pursue multibillion-dollar acquisitions across the food delivery industry.
An Instacart spokesperson declined to comment when reached by The Post.
A takeover by either company could face antitrust scrutiny because of its competing grocery delivery operations.
Antitrust concerns helped derail DoorDash’s 2021 discussions to acquire Instacart at a valuation of $40 billion to $50 billion, The Information previously reported.
The discussions broke down partly over concerns about securing regulatory approval during the Biden administration, according to the report.
Instacart struck a deal with Uber in 2024 to offer restaurant delivery powered by Uber Eats through its grocery app.
Last year, Uber began using Instacart’s Carrot Ads technology to offer sponsored grocery placements on Uber Eats.
Earlier discussions between Uber and Instacart failed to advance as Uber pursued other acquisitions, The Information reported.
Instacart’s expansion into advertising has yet to close the revenue growth gap with Uber and DoorDash.
Instacart was valued at $39 billion in a 2021 private funding round amid a pandemic-era boom in grocery delivery.
By the time the company went public in 2023, its valuation had tumbled to roughly $10 billion.
Instacart shares have gained roughly 70% since the IPO. Its revenue growth slowed from 19% in 2023 to 11% in each of the following two years.
Instacart generated $480 million in free cash flow during the second quarter, while revenue increased 14% from a year earlier to just over $1 billion.
The company has said it plans to devote most of its free cash flow this year to repurchasing shares.
DoorDash recorded a 28% revenue increase in 2025, compared with 18% at Uber, whose business also includes ride-hailing.
Amazon, which owns Whole Foods, has also expanded its grocery delivery operations.
DoorDash, valued at roughly $80 billion, acquired Deliveroo and restaurant software firm SevenRooms in 2025, three years after buying European delivery platform Wolt for about $8 billion.
Uber, with a market value of about $135 billion, has agreed this year to pay roughly $15 billion for Delivery Hero and more than $2 billion for workplace catering service ezCater.
The Information reported that Uber’s recent dealmaking could complicate a potential bid for Instacart.
Instacart’s talks with prospective buyers have yet to produce an agreement, and a sale remains uncertain, according to the report.