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

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05-07-24 0936ET

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