DoorDash has announced its acquisition of Instacart in a deal valued at $17 billion. This purchase aims to enhance DoorDash’s capability in the grocery delivery sector.
Despite the acquisition, DoorDash plans to keep the Instacart brand name and application. This allows current Instacart shoppers to continue processing orders through the Instacart platform. Grocery partners have the option to collaborate with either Instacart or DoorDash.
The acquisition will enable Instacart users to access an additional 50,000 stores that DoorDash currently serves. Instacart, established in 2012, focuses on delivering groceries and convenience store items across the U.S. and Canada. The company has a network of 600,000 independent contractors, known as “shoppers,” who fulfilled 338 million orders last year, according to their reports.
Instacart holds a market valuation of $14 billion.
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