DoorDash and Maplebear Inc., which does business as Instacart, said in a Business Wire release they have entered into a definitive agreement for DoorDash to acquire Instacart for about $17 billion. The agreement values Instacart at $65.00 per share, with at least 75 percent of the consideration in cash and the remainder in DoorDash stock. Instacart stockholders may elect to receive cash, DoorDash stock, or a combination of the two, subject to proration so that the stock portion will not exceed 25 percent of the total consideration. DoorDash trades on Nasdaq under the ticker DASH, and Instacart trades under CART.
Sources
- DoorDash to Acquire Instacart to Help Local Stores Win, Business Wire
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Nina Castell covers startups, funding rounds and acquisitions for Venturist. She writes from company announcements, filings and published reporting.