Grocery delivery platform Instacart is exploring a potential sale and has held preliminary discussions with prospective buyers, including Uber and DoorDash, according to a report and cited by people familiar with the matter.
Following the report, Instacart shares closed nearly 9% higher and gained close to 1% in extended trading. The company currently has a market capitalisation of approximately $12 billion.
Meanwhile, Uber shares ended the session down nearly 3%, while DoorDash shares declined by more than 4%.
Instacart, Uber and DoorDash did not immediately respond to requests for comment.
However, discussions remain ongoing, and there is no guarantee that they will result in a transaction, the report added.
