DoorDash Files Form 425 Regarding Proposed Acquisition of Instacart (Maplebear Inc.)

Overview of Filing

On October 30, 2026, DoorDash, Inc. submitted a filing on Form 425 (deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934 and Rule 425 under the Securities Act of 1933) with the SEC regarding its proposed acquisition of Maplebear Inc. (Instacart).

Key Transaction Terms

• Parties Involved: DoorDash, Inc. (Acquirer), Ibiza Merger Sub, Inc. (Merger Sub, wholly owned subsidiary of DoorDash), and Maplebear Inc. (Target / Subject Company).
• Merger Agreement Date: October 28, 2026.
• Transaction Structure: Proposed merger under which Ibiza Merger Sub, Inc. will merge with Maplebear Inc.
• Consideration & Registration: DoorDash plans to file a Registration Statement on Form S-4, which will include a proxy statement of Instacart and prospectus of DoorDash to register shares of DoorDash common stock issued as merger consideration.

Regulatory Approvals & Conditions

The proposed transaction is subject to:

1. Approval by stockholders of Maplebear Inc. (Instacart).
2. Regulatory clearances, including expiration or termination of the waiting period under the U.S. Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976.
3. Clearance under the Competition Act (Canada) and the Israeli Economic Competition Law-1988.
4. Customary closing conditions and financing arrangements.

Strategic & Market Impact

This filing signals a landmark consolidation within the on-demand delivery, grocery, and local commerce sectors, combining DoorDash's extensive restaurant delivery and merchant logistics platform with Instacart's grocery fulfillment and retail network.