Sequoia Capital Enters Voting Agreement for DoorDash Acquisition of Maplebear Inc.

Executive Summary

On October 30, 2026, SC US (TTGP), LTD. and affiliated Sequoia Capital funds filed Amendment No. 10 to Schedule 13D disclosing a major strategic corporate transaction involving Maplebear Inc. (dba Instacart). The filing highlights that on October 28, 2026, Maplebear entered into a definitive Agreement and Plan of Merger with DoorDash, Inc. Concurrently, the Sequoia entities entered into a Voting and Support Agreement committing their shares to vote in favor of the merger.

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Transaction & Position Details

• Issuer: Maplebear Inc. (CIK: 0001579091)
• Reporting Person: SC US (TTGP), LTD. and related funds
• Date of Event: October 28, 2026
• Shares Beneficially Owned: 18,596,961 shares of Common Stock
• Class Percentage: Approximately 7.9% (calculated against 236,498,351 common shares outstanding as of October 23, 2026)
• Direct/Indirect Breakdown:
  • SCF (Sequoia Capital Fund, L.P.): 12,114,227 shares (5.1%)
  • SC US/E Expansion Fund I MGMT: 2,150,331 shares direct (3,150,331 shared / 1.3%)
  • SCFP (Sequoia Capital Fund Parallel, LLC): 1,763,497 shares (0.7%)
  • SCGGF III - U.S./India Management, L.P.: 1,217,532 shares (0.5%)
  • SC US/E Expansion Fund I, L.P.: 1,000,000 shares (0.4%)
  • SC GGF III: 351,374 shares (0.1%)
  • Total Shared Voting / Dispositive Power: 18,596,961 shares under SC US (TTGP), LTD.

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Core Transaction Terms (Item 4)

1. Merger Agreement: Maplebear entered into an agreement with DoorDash, Inc. ("Parent") and Ibiza Merger Sub, Inc. ("Merger Sub"), under which Maplebear will become a wholly owned subsidiary of DoorDash.
2. Voting and Support Agreement: Concurrently executed by Sequoia entities, agreeing to:
   • Vote all 18.59M+ beneficially owned shares in favor of the merger adoption.
   • Restrict any transfer or hedging of shares until the earlier of stockholder adoption or termination of the agreement.
3. 60-Day Trading History: No open-market purchases or sales were conducted by the Reporting Persons in the preceding 60 days.

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Market Impact & Significance

• Trading Significance: High. The filing confirms institutional backing from early and major venture capital investor Sequoia Capital for a transformative mega-deal uniting two dominant players in digital delivery and logistics (DoorDash and Instacart/Maplebear).
• Deal Completion Certainty: The lock-up and voting commitment of an aggregate 7.9% stake meaningfully enhances closing certainty and demonstrates top-tier shareholder alignment behind the transaction.