Updated version 1 - Correction - Sources say DoorDash is in talks to acquire Instacart for about $17 billion.

Supplemented stock information in the second paragraph and added background information throughout the article.

Echo Wang

Reuters, October 26 - A source familiar with the matter told Reuters on Monday that DoorDash (DASH.O) is in advanced talks regarding the acquisition of Instacart (CART.O), in a deal that could value the grocery delivery platform at around $17 billion.

The person said the transaction could be finalized as soon as Wednesday, but there is no guarantee a final agreement will be reached. The source added that acquisition negotiations between Instacart and Uber are no longer ongoing.

As of last Friday’s close, Instacart’s market cap was about $13 billion, with its share price rising approximately 8% during regular trading hours, while DoorDash shares fell about 6%.

The Wall Street Journal first reported this development on Monday.

This potential transaction would give DoorDash access to Instacart’s established marketplace platform and retailer relationships, and could combine them with its own extensive delivery network and customer base.

According to The Information, which cited sources familiar with the matter on Friday, Instacart has been exploring possible sale options and has held preliminary discussions with potential buyers including Uber and DoorDash (link).

When contacted by Reuters, Instacart declined to comment; Uber and DoorDash did not immediately respond.

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