00:00It's Benzinga, bringing Wall Street to Main Street.
00:03DoorDash is in advanced talks to acquire rival Instacart in a deal valued at around $17 billion,
00:09according to the Wall Street Journal. The deal could be finalized as soon as this week,
00:14although an agreement is not guaranteed. Instacart shares rose roughly 8% Monday,
00:19following the Wall Street Journal's report, while DoorDash shares fell around 6%.
00:24The acquisition would expand DoorDash's grocery delivery business.
00:28DoorDash has expanded from restaurant delivery into retail partnerships with companies including
00:33Macy's, CVS, and Target, while exploring new delivery and ordering methods involving drones
00:39and chatbots. Instacart previously explored a sale in 2021, when its shares traded at a higher price,
00:46and it held a larger share of the food delivery market. The company also attracted takeover
00:51interest from Uber, but those talks are no longer active. For all things money, visit Benzinga.com.
