DoorDash Buying Instacart for $17 Billion
DoorDash is buying Instacart in a massive deal that would bring two of the biggest delivery services under one company.
The companies announced today, October 29, that DoorDash has agreed to acquire Instacart in a transaction valued at approximately $17 billion, or $65 per Instacart share.
DoorDash says the deal will “help local stores compete with larger retailers, improve delivery options and provide more savings for customers.”
But combining two major delivery platforms is likely not good news for consumers. Less competition isn’t usually something to celebrate, especially in an industry where delivery fees and menu markups are already insane.
This could also mean that changes are coming for some Chase credit cards. Chase has partnerships with both DoorDash and Instacart, and several credit cards offer separate benefits for the two services.
