DoorDash has agreed to buy grocery delivery service Instacart for $65 per share, or about $17 billion in equity value. The deal was announced on October 29, 2026. According to the press release, it is expected to close in late 2027 or in the first half of 2028.
The price includes a premium: $65 per share is a 26% premium to Instacart's closing price on October 22, 2026, the last trading day before media reports about a possible deal. Shareholders can choose cash, DoorDash shares, or a combination of both. DoorDash shares account for no more than 25% of the total consideration. DoorDash will fund the cash portion from its own resources and debt financing.
Instacart's board has already voted. The board unanimously approved the agreement. Shareholders holding about 19% of Instacart's shares have committed to vote in favor of the deal.
Until closing, the services will remain separate, and that matters most for media buyers. Until the deal closes, DoorDash and Instacart will continue operating as independent companies. Advertising products are not merging yet either. The press release says more grocery retailers will be able to use Instacart's technology for their websites and retail media networks, which will bring them more sales and ad revenue. The companies also say the combined business will offer advertising and AI tools that each has already built.
The main hurdle is the regulator. The deal requires approval from the US Federal Trade Commission: the FTC traditionally reviews mergers involving retail and grocery chains, and the agency has recently focused on consumer affordability. On October 28, the FTC ordered DoorDash, Instacart, Walmart and six other companies to explain whether they use personal data to set prices and wages, one day before the deal was announced.
The next step is up to the FTC. If the commission does not require additional conditions, closing will follow the timeline the parties describe as late 2027 to the first half of 2028.
