Instacart's stock rises on Uber delivery partnership
By Steve Gelsi
Loyalty club members will get free delivery on orders of more than $35
Maplebear Inc.'s stock was up by 3% in premarket trading on Tuesday after the company, known for the grocery-delivery app Instacart, said it inked a delivery partnership with Uber Technologies Inc.
Instacart (CART) and Uber Technologies (UBER) did not disclose the financial terms of the deal.
Instacart customers will gain "easy access to food delivery" from Uber Eats restaurant partners in the U.S.
Members of the company's Instacart+ rewards program are being offered $0 delivery on grocery and restaurant orders of more than $35.
The Instacart app will have a new "restaurants" tab with food choices from participating restaurants and can keep track of deliveries, along with food from supermarkets.
Uber Chief Executive Dara Khosrowshahi said its "goal is to make it effortless for people to go anywhere and get anything."
Uber stock was up by 0.1% in premarket trading.
-Steve Gelsi
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
05-07-24 0936ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations