On October 28, 2026, Maplebear Inc. (d.b.a. Instacart) filed an -K with the SEC announcing a definitive agreement to be acquired by DoorDash, Inc. Under the terms of the Merger Agreement, DoorDash will merge with and into Maplebear, with Maplebear continuing as a wholly owned subsidiary of DoorDash.
The transaction values Maplebear at $65.00 per share, representing a 26% premium to the company’s closing price on October 22, 2026. The aggregate equity value of the transaction is approximately $17 billion. The consideration will be at least 75% cash, with stockholders able to elect cash, DoorDash common stock, or a combination of both. The total stock consideration issuable by DoorDash is capped at 25% of the aggregate consideration.
Stockholders will have the right to elect one of the following for each share held: $65.00 in cash; 0.3372 shares of DoorDash common stock; or a mix of $48.75 in cash and 0.0843 shares of DoorDash common stock. If the election for stock consideration is oversubscribed, stockholders will receive stock on a prorated basis.
The transaction is expected to close in the end of 2027 or the first half of 2028, subject to approval by Maplebear stockholders, the expiration of the Hart-Scott-Rodino waiting period, and other regulatory approvals, including in Canada and Israel.
Approximately 19% of Maplebear’s outstanding shares have agreed to vote in favor of the transaction. DoorDash has entered into a financing commitment letter with JPMorgan Chase Bank, N.A. for a 364-day senior unsecured bridge loan facility to support the debt component of the transaction.
