DoorDash reportedly buying Instacart for $17 billion amid competition
DoorDash is making big moves: it's reportedly buying grocery delivery rival Instacart for a whopping $17 billion.
The goal? To get even stronger in the US grocery delivery game, where competition from app-based platforms is heating up.
This deal also fits into a bigger trend: companies are teaming up to handle rising costs and tough regulatory scrutiny over the treatment of gig workers.
Delivery mergers accelerate with grocery demand
The delivery world is seeing lots of mergers lately: think Just Eat Takeaway acquiring Grubhub or Uber snapping up Postmates.
With more people ordering groceries online (especially as gas prices soar), companies like DoorDash are expanding fast.
Fun fact: Instacart's stock has risen nearly 30% so far this year, while DoorDash's have fallen about 25% so far this year.
Expect even more shake-ups as these giants battle it out for your next grocery order.