DoorDash said Thursday that it will buy Instacart for $17 billion, uniting one of the nation's top grocery delivery services with a major food delivery company.
DoorDash, which will pay $65 per share for Instacart, said the acquisition will benefit communities by enabling more supermarkets to use Instacart's platform to run their websites.
"Instacart has spent years learning to do that well for grocers, while DoorDash has built a delivery network and technology that local stores rely on every day," Tony Xu, co-founder and CEO of DoorDash, said in a statement. "Together, we could give stores of every size more of those tools and unlock the potential of grocery delivery."
— This is a breaking news story and will be developed.