DoorDash net income gains 91% to $466m in a record quarter

DoorDash is acquiring Instacart for $17 billion, aiming to expand store options and delivery services. The deal, expected to close by mid-2028, will combine Instacart's grocery technology with DoorDash's global reach, offering users a single membership and potential savings. Both companies plan to leverage their strengths to benefit customers, delivery drivers, and retailers.

The FTC has ordered nine U.S. companies, including Walmart, JetBlue, and Uber, to provide information on how they use consumer data to set prices and gig worker pay. The agency is investigating 'surveillance pricing' practices, where consumers may be charged different prices based on their purchase histories. FTC Chairman Andrew Ferguson stated the agency will examine the methods used to determine consumer prices and gig worker pay.

DoorDash acquires Instacart for $17B at $65 per share, combining food and grocery delivery services. Both CEOs highlight synergies in technology and market reach. The deal faces potential antitrust scrutiny and opposition from stakeholders. Instacart's board approved the agreement, which includes cash and stock options.

DoorDash announced a $17 billion acquisition of Instacart, aiming to strengthen its position in grocery delivery. The deal, pending federal approval, will keep both apps separate but allow gig workers to take orders from both platforms, potentially increasing earning opportunities. DoorDash's CEO Tony Xu highlighted the loyalty of Instacart's brand and the potential for faster delivery times and lower prices.

DoorDash agreed to acquire Instacart in a $17B cash-and-stock deal, paying $65 per share, a 26% premium. The deal combines grocery delivery platforms, expanding store access and integrating membership programs. Instacart's brand and tech will be maintained. The transaction is expected to close by early 2028, pending regulatory approvals.

NYC Mayor Zohran Mamdani criticizes DoorDash's $17B acquisition of Instacart, warning it may raise consumer prices and reduce competition. DoorDash and Instacart argue the deal will offer more choices and savings, with combined membership benefits. Critics, including anti-monopoly groups, urge regulators to block the transaction, citing potential market dominance and worker exploitation. The deal requires shareholder and regulatory approval, expected by late 2027 or early 2028.