DoorDash Will Acquire Instacart In $17 Billion Deal

0:28This episode is brought to you by Google Chrome. billion, the company announced Thursday. A majority of the deal will be paid in cash, and shareholders will have the option to receive cash, DoorDash stock, or a combination of both. Each share will be worth$65, and Instacart's branding and technology will likely remain the same even after the deal closes in late 2027 or early 2028. This is DoorDash's latest purchase in a series of acquisitions. In September, it bought Grubhub's campus dining business for$300 million and UK-based app Deliveroo for$3.9 billion in December of last year. Instacart's stock price reached a high on Monday after reports of advanced talks, making its founder and former CEO a poo for a Meta, a billionaire.

1:19As of Thursday morning, Meta is worth$1.3 billion. In a statement to Forbes, he shared that he and DoorDash co-founder Tony Zhu have periodically considered uniting the two companies over the years. As of Thursday morning, Zhu's net worth stands at$1.6 billion. After moving its earnings call to coincide with the news of the acquisition, DoorDash said it hit new quarterly records for revenue, net income, and marketplace gross order value. The company outperformed analyst expectations even after agreeing to pay out a$131.5 million settlement for underpaying delivery workers. For more on this story, check out the article at the link in the description.

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