Instacart is reportedly exploring a sale and has held preliminary discussions with potential buyers, including competitors Uber and DoorDash, according to sources familiar with the matter. The company is valued at around $12 billion.
Instacart is working with an investment bank to evaluate its options. The discussions are ongoing, and there is no certainty they will result in a deal.
Instacart shares closed up approximately 9% on Friday. Uber shares fell nearly 3%, while DoorDash shares declined more than 4%.