DoorDash In Talks To Buy Instacart In $17B Deal

The reported acquisition could reshape restaurant delivery, grocery ordering, and competition, with potential implications for independent restaurants across the St. Louis region.

ST. LOUIS, MO – October 28, 2026 (StLouisRestaurantReview) DoorDash is reportedly in advanced negotiations to acquire Instacart in a potential transaction valued at approximately $17 billion, a development that could reshape the restaurant delivery and grocery ordering industries across the United States.

Reuters reported on October 26 that DoorDash and Instacart were discussing a transaction that could close as early as Wednesday, October 28. Bloomberg also reported advanced negotiations involving DoorDash and Instacart’s parent company, Maplebear Inc., while The Wall Street Journal first reported the latest developments.

As of the latest reporting reviewed for this article, no definitive acquisition agreement had been confirmed. Negotiations could still end without a transaction.

The approximately $17 billion figure represents a reported potential valuation, not an announced purchase price. The companies have not disclosed definitive transaction terms, including whether a possible acquisition would involve cash, stock, or a combination of financing arrangements.

For independent restaurants throughout the St. Louis metropolitan area, the potential acquisition raises important questions about third-party delivery commissions, online ordering, customer relationships, and the growing influence of large technology companies over restaurant sales.

Although Instacart is primarily associated with grocery shopping, DoorDash has expanded beyond restaurant meals into groceries, convenience products, and other retail categories.

Combining the businesses could create a more extensive digital marketplace serving restaurants, supermarkets, retailers, and consumers.

The potential transaction also highlights an increasingly important reality for restaurant operators: digital ordering companies are competing to control a larger share of everyday consumer purchases.

Why DoorDash Wants Instacart

DoorDash and Instacart developed their businesses around different consumer needs, but their operations increasingly overlap.

DoorDash became a major restaurant delivery marketplace by connecting consumers with participating restaurants through its mobile application and website.

Instacart built its business around online grocery ordering and established relationships with supermarkets, retailers, advertisers, and shoppers.

Both companies now compete in portions of the grocery delivery market.

A combination could allow DoorDash to strengthen its position in grocery ordering while gaining access to Instacart’s established retailer relationships and technology.

Instacart, meanwhile, could benefit from DoorDash’s delivery infrastructure, customer reach, and experience managing restaurant orders.

The potential strategic advantages extend beyond delivery logistics.

Both companies operate digital marketplaces that connect consumers with merchants. These marketplaces generate opportunities for advertising, promotions, customer engagement, and repeat purchases.

A combined business might eventually offer consumers a more integrated experience involving restaurant meals, groceries, convenience products, and household supplies.

For example, customers who regularly order restaurant meals could also be encouraged to purchase groceries through the same platform.

Likewise, grocery customers might discover restaurant offerings through additional promotional services.

However, no integration plan has been announced, and these possibilities should not be interpreted as confirmed changes to either company’s operations.

Understanding the Reported $17 Billion Valuation

The reported valuation represents a substantial potential investment by DoorDash.

According to The Information’s October 23 reporting, Instacart was exploring a sale when its market capitalization was approximately $12 billion.

After the initial reports and subsequent trading, Reuters reported that Instacart’s market capitalization was approximately $13 billion at the close of trading on Friday, October 23.

Those figures reflect different points in time and changes in the company’s publicly traded stock price.

Reuters reported that Instacart shares rose about 8% during regular trading on October 26, while DoorDash shares fell about 6%.

The market reaction suggested that investors viewed the proposed acquisition differently depending on which company’s shares they owned.

Instacart shareholders could benefit from an acquisition premium if a buyer pays more than the company’s previous market valuation.

DoorDash shareholders, however, must consider the cost of an acquisition and whether the financial benefits would justify the investment.

The reported $17 billion figure should not be described as a finalized equity purchase price or enterprise value because definitive transaction terms have not been publicly disclosed.

If an agreement is announced, the financing structure and purchase consideration will be important in evaluating the transaction.

Why the Acquisition Matters to Restaurants

For restaurant owners, the most important question may not be the acquisition price, but how a larger delivery company could affect the economics of online ordering.

Third-party delivery services have become an established sales channel for restaurants across the United States.

They provide consumer-facing technology, ordering systems, payment processing, marketing opportunities, and delivery logistics.

For smaller restaurants, these services can help attract customers who might not otherwise discover their businesses.

However, the additional sales come with expenses.

Depending on their agreements, restaurants may pay commissions, promotional expenses, advertising charges, and other fees.

Restaurants must also account for food ingredients, employee wages, packaging materials, utilities, occupancy expenses, and other operating costs.

A restaurant receiving additional delivery orders does not necessarily generate a corresponding increase in profits.

For example, a $50 online order may look attractive on revenue alone, but the restaurant must calculate the actual contribution remaining after the costs of fulfilling that order.

Those costs vary by restaurant and by ordering channel.

A restaurant operating with narrow profit margins may find that delivery sales require careful pricing and expense management.

If DoorDash acquires Instacart, the combined company could potentially offer additional customer acquisition opportunities or operational efficiencies.

However, greater market concentration could also raise concerns about negotiating power and dependence on major delivery platforms.

No verified announcement indicates the proposed acquisition would change DoorDash’s restaurant commissions or existing merchant agreements.

Any predictions about specific fee increases or reductions would therefore be speculative.

What It Could Mean for St. Louis Restaurants

The St. Louis metropolitan area has a diverse restaurant industry, including independent neighborhood establishments, family-owned restaurants, regional chains, and national brands.

Restaurants in communities such as Clayton, Chesterfield, Maryland Heights, Creve Coeur, St. Charles, and downtown St. Louis compete for customers through dine-in service, carryout, online ordering, and third-party delivery.

Many restaurants use digital platforms to reach customers outside their immediate neighborhoods.

These services can introduce consumers to establishments they might not discover through traditional advertising or neighborhood visibility.

However, restaurants must weigh the benefits against the associated costs.

Independent restaurants often operate with limited financial flexibility. Labor expenses, food prices, insurance, utilities, rent, and other obligations can place considerable pressure on profitability.

Adding delivery marketplace expenses creates another factor for owners to manage.

A potential DoorDash-Instacart combination could eventually expand the ways consumers discover restaurant meals alongside grocery products.

It might also create additional competition for prepared-food purchases.

Supermarkets increasingly offer prepared meals, ready-to-eat foods, and other products that compete with traditional restaurant offerings.

A digital marketplace that features both restaurants and grocery retailers could make those choices more visible to consumers.

For restaurant owners, the challenge would be maintaining competitive menu pricing, strong customer relationships, and profitable operations.

These are potential industry implications, not announced changes affecting any particular St. Louis restaurant.

Competition With Uber Eats and Grocery Retailers

The reported acquisition discussions come as major delivery companies compete to expand beyond their original markets.

DoorDash competes with Uber Eats in restaurant delivery, while both companies have expanded their grocery and retail services.

Instacart faces competition from delivery platforms and retailers that operate their own online ordering systems.

Reuters reported October 26 that Instacart’s discussions with Uber regarding a possible acquisition were no longer active.

The Information had reported October 23 that Instacart was exploring a sale and had held preliminary discussions with potential buyers, including DoorDash and Uber.

The end of active discussions with Uber does not establish that DoorDash has secured an agreement.

Nevertheless, the reports highlight strategic interest in Instacart’s grocery marketplace.

The broader competitive environment includes major retailers such as Walmart and Amazon, along with supermarket chains developing their own ordering and delivery capabilities.

Consumers increasingly expect convenient access to food and household products, encouraging companies to compete across multiple retail categories.

For delivery platforms, serving more categories can potentially increase order frequency and strengthen customer relationships.

A consumer who uses an application to order dinner may also use it to purchase groceries or convenience products.

That broader relationship can create additional revenue opportunities for the platform.

For participating restaurants, however, increased platform activity is valuable only when it generates economically sustainable sales.

Instacart’s Financial Performance

Instacart’s financial performance provides important context for the reported acquisition discussions.

The company grew substantially during the COVID-19 pandemic as consumers increasingly relied on online grocery ordering.

Growth moderated as consumers returned to physical stores and competition intensified.

According to The Information’s October 23 report, Instacart’s annual revenue growth slowed to about 11% in both 2024 and 2025, down from about 19% in 2023.

The Information reported those historical growth figures.

You can verify more recent results directly through Instacart’s investor relations disclosures.

On August 6, 2026, Instacart released its second-quarter financial results, ended June 30.

The company reported total quarterly revenue of $1.043 billion, up 14% from the same quarter in 2025.

Gross transaction value reached $10.351 billion, also increasing 14% year over year.

Instacart reported 90.3 million orders during the quarter, up 9%.

Its GAAP net income totaled $111 million, while adjusted earnings before interest, taxes, depreciation, and amortization reached $313 million.

The company also reported operating cash flow of $493 million and free cash flow of $480 million.

These results demonstrate that Instacart remains a substantial operating business with significant revenue and cash generation.

They also illustrate why a prospective buyer might value its established marketplace, retailer relationships, advertising operations, and technology.

The reported acquisition discussions should not be interpreted as evidence that Instacart is financially distressed.

Instead, the proposed combination appears connected to strategic expansion and competition within the delivery industry.

Antitrust Review Could Be a Major Obstacle

One of the biggest uncertainties surrounding the proposed acquisition is federal antitrust regulation.

DoorDash and Instacart already participate in overlapping segments of the grocery delivery market.

A combination could raise questions about competition among delivery platforms, retailer relationships, and consumer choices.

Federal antitrust authorities would evaluate whether a proposed transaction could substantially lessen competition in relevant markets.

That evaluation would depend on the transaction’s structure, the companies’ competitive relationship, and conditions in the affected markets.

Regulatory scrutiny does not automatically mean an acquisition would be rejected.

Possible outcomes include approval, a negotiated resolution, a legal challenge, or abandonment of the transaction.

The companies previously explored a potential combination in 2021.

According to The Information, those discussions contemplated a valuation between approximately $40 billion and $50 billion for Instacart.

The negotiations did not result in a transaction, reportedly due to concerns about antitrust approval.

The market environment has changed considerably since those earlier discussions.

Instacart is now publicly traded, and the delivery industry has continued to evolve.

Nevertheless, competition concerns remain relevant because the businesses overlap in grocery delivery.

No regulatory approval or rejection has been announced for the reported 2026 transaction.

Could Restaurant Delivery Fees Increase?

One question that likely concerns independent restaurants is whether consolidation could eventually affect delivery commissions or consumer fees.

A larger delivery organization might achieve efficiencies through shared technology, marketing resources, and operational infrastructure.

Such efficiencies could potentially reduce certain expenses.

However, consolidation can also reduce competition between businesses that previously operated independently.

That possibility raises questions about pricing power and the commercial terms offered to merchants.

No verified evidence currently shows that the proposed acquisition would increase DoorDash’s restaurant commissions.

No announced commitment suggests the transaction would reduce those fees.

Future pricing decisions would depend on the company’s strategy, market competition, operating costs, and applicable regulations.

Restaurants should therefore avoid assuming a merger will automatically raise or lower delivery expenses.

Instead, owners should monitor actual changes to their merchant agreements and evaluate each ordering channel based on its financial performance.

Direct Ordering Remains an Important Strategy

Regardless of whether the proposed acquisition moves forward, independent restaurants have good reasons to maintain direct relationships with their customers.

Third-party delivery platforms can provide valuable exposure and convenience.

However, restaurants that rely heavily on a single platform may become vulnerable to changes in marketplace policies, advertising costs, search visibility, and commission structures.

Direct online ordering offers an additional way to serve customers.

A restaurant’s website can provide its menu, pickup options, operating hours, and promotional information.

Depending on the ordering technology used, restaurants may also offer loyalty programs and customer communications.

Direct ordering is not without expense.

Restaurants must still account for website maintenance, software, payment processing, marketing, and, when applicable, delivery arrangements.

Nevertheless, maintaining direct ordering options can help restaurants exercise greater control over branding and customer engagement.

Restaurant operators should also understand each sales channel’s profitability.

Dine-in, carryout, direct delivery, and third-party delivery orders can have different cost structures.

Accurate bookkeeping and regular financial analysis can help determine which channels contribute most to operating profit.

The objective should not necessarily be to eliminate third-party delivery.

Instead, restaurants should take a balanced approach, using outside platforms where they provide measurable value while maintaining direct access to customers.

What Happens Next?

The immediate question is whether DoorDash and Instacart will announce a definitive acquisition agreement.

Reuters reported October 26 that an agreement could be reached as early as October 28, although negotiations could still fail.

Bloomberg similarly reported that discussions were advanced but that no final decision had been made.

As of the latest reporting reviewed for this article, no independent source had confirmed a signed agreement.

If the companies announce a transaction, investors and industry participants will examine the purchase price, financing structure, expected operating benefits, and regulatory requirements.

Restaurant operators will also want to know whether the combined company plans to change its ordering systems, merchant agreements, delivery services, or advertising products.

Those questions cannot be answered definitively without an official announcement.

Even if the companies sign an agreement, the transaction would not necessarily close immediately.

Large acquisitions may require regulatory review and satisfaction of other closing conditions.

Until the transaction closes, DoorDash and Instacart remain separate companies.

The Bigger Picture for the Restaurant Industry

The reported DoorDash-Instacart negotiations illustrate an ongoing transformation in how Americans buy food.

Digital marketplaces increasingly connect restaurant delivery, grocery shopping, convenience ordering, and retail fulfillment.

Technology companies are competing not simply to deliver restaurant meals but to become central platforms for everyday consumer purchases.

For independent restaurants, that development creates both opportunities and challenges.

A larger marketplace could introduce restaurants to more customers, improve technology, and generate more orders.

At the same time, greater dependence on powerful intermediaries could create concerns about costs, competition, and control over customer relationships.

For restaurants throughout St. Louis, the key question is whether online ordering platforms generate profitable sales.

Restaurant owners must continue evaluating delivery commissions, marketing expenses, packaging costs, labor requirements, and the actual financial return from each ordering channel.

The reported $17 billion acquisition remains uncertain, and its ultimate effect on restaurants cannot yet be determined.

However, the negotiations demonstrate the growing importance of digital delivery infrastructure and the increasing overlap between restaurant and grocery marketplaces.

Whatever happens between DoorDash and Instacart, independent restaurants will need to remain attentive to changes in the digital ordering industry.

The businesses best positioned to adapt will be those that understand their financial performance, maintain strong customer relationships, and carefully evaluate the technology services they use.

For the St. Louis restaurant community, those considerations will remain important long after the outcome of the proposed acquisition becomes clear.

Sources: Reuters, October 26, 2026, reporting on the DoorDash-Instacart negotiations; Bloomberg, October 26, 2026, reporting on the potential acquisition; The Information, October 23, 2026, reporting on Instacart’s exploration of a sale and historical growth; and Instacart’s official second-quarter 2026 financial results released August 6, 2026. The discussion of potential effects on St. Louis restaurants represents industry analysis, not announced changes to restaurant contracts or delivery fees.