00:00It's Benzinga bringing Wall Street to Main Street.
00:02DoorDash could announce a deal to acquire Instacart as early as Thursday morning,
00:07CNBC reported Wednesday. The potential acquisition could value Instacart at approximately $17
00:13billion. DoorDash is seeking to expand its presence in online grocery delivery,
00:19where Instacart faces growing competition from Amazon and Walmart. Instacart has struggled to
00:25maintain the growth it experienced during the pandemic, while DoorDash has expanded its
00:29marketplace through partnerships with retailers and regional grocers. Analysts warned that a
00:34merger could face antitrust scrutiny because of the company's overlapping markets. Instacart
00:40shares rose approximately 4% in extended trading Wednesday, while DoorDash shares declined less
00:45than 1%. For all things money, visit benzinga.com.
Comments