Instacart reportedly held talks to sell itself to DoorDash and Uber

Instacart has reportedly engaged in discussions about selling itself to larger competitors, according to TechCrunch reporting on multiple news sources.

The Information revealed that Instacart hired an investment bank to explore its options and held acquisition talks with DoorDash.

Bloomberg reported that Uber was also involved in talks but eventually walked away from the discussions.

Instacart currently has a market capitalization exceeding $13 billion, and its stock price has increased by 25% year to date.

Following the news of possible sale talks, Instacart's shares rose more than 9.2%, while Uber and DoorDash stocks declined.

These discussions are described as early stage and may not necessarily result in a sale, according to Bloomberg.