Instacart weighs sale talks with DoorDash and Uber, reports say

Instacart has discussed a possible sale with DoorDash and Uber, according to reports cited by TechCrunch, which said the grocery delivery company hired an investment bank to evaluate its options.

TechCrunch, citing reporting from The Information and Bloomberg, said Instacart held acquisition talks with DoorDash. Bloomberg also reported talks with Uber, though it said Uber walked away from those discussions.

The reports, as described by TechCrunch, point to an early-stage process rather than an agreed transaction. Bloomberg noted the talks might not result in a sale at all. TechCrunch also said it had reached out to Instacart for comment.

Investors reacted quickly. TechCrunch reported that Instacart’s share price jumped more than 9.2% on Friday after the sale reports, while Uber and DoorDash shares declined.

TechCrunch said Instacart’s market capitalization is more than $13 billion and that its stock is up 25% for the year to date. In that light, even tentative sale discussions land as a serious signal: not that a deal is near, but that Instacart is at least testing what its options look like while its valuation is relatively strong.

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