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Uber, Instacart Team Up for App-Based Restaurant Deliveries, Stock Up 5.0%

May 7, 2024, 02:25 PM

Uber and Instacart have formed a partnership to integrate Uber Eats into the Instacart app, allowing customers to order restaurant food directly through Instacart. This collaboration, explicitly without involving a merger or acquisition, will enable Instacart users to access hundreds of thousands of Uber Eats restaurant partners. The partnership has positively impacted Instacart's stock, which saw an increase of 5.0% following the announcement. The integration is set to expand Instacart's service offerings and is expected to roll out in the coming weeks.