Instacart Shares Rally 10% After The Information Reports Sale Talks

Instacart shares jumped 10% in the final minutes of regular stock market trading Friday following The Information’s report that the delivery app company is in talks to sell itself.

Shares in the company closed at $56.44.

Instacart has been working with an investment bank to weigh its options and held at least preliminary conversations with DoorDash and Uber, though talks with Uber are not ongoing, The Information reported Friday. The 14-year-old Instacart, which had a market cap of $12 billion as of Friday morning, has struggled to return to pandemic-era revenue growth, although it’s generating a significant amount of free cash flow.