New Delhi, Oct. 25 -- Instacart is exploring a potential sale and has held preliminary discussions with prospective buyers, including Uber and DoorDash, The Information reported on Friday, citing people familiar with the matter.

Shares of Instacart closed around 9% higher on Friday following the report. The company had a market capitalisation of approximately $12 billion at Thursday's close.

The discussions are ongoing, and there is no guarantee that a deal will materialise, the report said.

A potential acquisition by Uber or DoorDash could strengthen the buyer's presence in the online grocery delivery market by combining Instacart's established marketplace and retailer relationships with the acquirer's extensive delivery network and c...