Recent Updates — DASH
DoorDash, Inc. entered into a definitive Agreement and Plan of Merger with Maplebear Inc. (d.b.a. Instacart) under which DoorDash will acquire Instacart for an aggregate equity value of approximately $17 billion. Each share of Instacart common stock will be converted into the right to receive $65.00 in cash, 0.3372 shares of DoorDash Class A Common Stock, or a combination of $48.75 in cash and 0.0843 shares of DoorDash Class A Common Stock, subject to proration so that stock consideration does not exceed 25% of the aggregate consideration. The transaction is expected to close at the end of 2027 or in the first half of 2028, pending approval by Instacart stockholders and regulatory clearances including Hart-Scott-Rodino waiting periods. DoorDash has secured a $13.0 billion senior unsecured bridge loan facility from JPMorgan Chase Bank to finance the cash portion of the consideration. DoorDash operates in the local commerce and food delivery industry.
DoorDash reported third-quarter 2026 financial results showing GAAP net income attributable to common stockholders increased 91% year-over-year to $466 million, with revenue rising 34% to $4.6 billion and Adjusted EBITDA growing 41% to $1,060 million. The company also announced a definitive agreement to acquire Instacart for $65.00 per share in an all-cash or stock mix deal valued at approximately $17 billion. The transaction is expected to close in late 2027 or early 2028, subject to regulatory approvals and shareholder votes. DoorDash operates a local commerce platform connecting consumers with merchants for food delivery and grocery services.
DoorDash, Inc. completed its reincorporation from Delaware to Nevada on September 18, 2026, at 12:02 a.m. Pacific Time. The company filed certificates of conversion with both states to effect the change in jurisdiction. Each outstanding share of Class A and Class B common stock automatically converted into one share of the corresponding class under the new Nevada charter without requiring certificate exchanges or altering ownership percentages. Existing warrants, options, and equity awards also converted on a one-to-one basis under identical terms. The transaction did not change the company's business operations, management, assets, liabilities, or net worth, aside from associated administrative costs. Material contracts remain in full force, and new indemnification agreements were executed for directors and executive officers. The stock continues to trade on Nasdaq under the symbol DASH. DoorDash operates as a technology platform connecting consumers with local merchants for food delivery services.
DoorDash, Inc. announced that consenting stockholders holding approximately 54.2% of the voting power approved by written consent on August 6, 2026, the reincorporation from Delaware to Nevada via conversion. The company will file a Schedule 14C information statement with the SEC and mail it to shareholders of record as of that date. The transaction is expected to be effective no earlier than twenty calendar days after the mailing commences. DoorDash operates in the food delivery technology industry, connecting consumers with local restaurants through its platform.
DoorDash reported financial results for the quarter ended June 30, 2026. Total orders increased 27% year-over-year to 970 million, while Marketplace Gross Order Volume (GOV) rose 36% to $33.1 billion and revenue grew 36% to $4.5 billion. GAAP net income attributable to common stockholders decreased 30% to $200 million, whereas Adjusted EBITDA increased 40% to $914 million. The company provided Q3 2026 guidance projecting Marketplace GOV between $33.0 billion and $34.0 billion and Adjusted EBITDA between $950 million and $1.1 billion. Additionally, DoorDash announced it has repurchased 6.8 million shares for $1.049 billion under its February 2025 authorization, leaving approximately $3.951 billion remaining. The company operates in the local commerce and food delivery industry.