Instacart Explores Sale at $12 Billion Valuation with Uber and DoorDash Among Potential Buyers

Instacart is exploring a sale and has held preliminary discussions with both Uber and DoorDash, according to The Information. The grocery delivery company, valued at around $12 billion, is working with an investment bank to weigh its options, though no deal is guaranteed and any acquisition by a major delivery rival could face antitrust scrutiny. Instacart shares jumped 10% on the news.

Instacart previously held sale talks with DoorDash in 2021 at a valuation of $40 billion to $50 billion, but those negotiations fell apart. The company has since reported $1.04 billion in Q2 2026 revenue, up 14% year over year, with $480 million in free cash flow, making it a potentially attractive target at its current valuation. A deal with Uber would significantly expand the company's grocery and delivery footprint alongside its existing ride-hailing and Uber Eats businesses.

Separately, Uber announced it is giving all corporate employees access to OpenAI's enterprise tool, ChatGPT Work, which can perform tasks such as preparing meeting briefs. The move comes weeks after Uber laid off thousands of workers, signaling the company's intent to use AI tools to offset reduced headcount. Unusual options activity was also flagged on Uber, with notable put positions at the December $57.50 strike.