Following the successful Super Bowl LX and Uber’s impressive business performance for the most glamorous night in American football, the world’s number one ridesharing app is the talk of the town once again.
Uber has announced it is acquiring Getir, a delivery company based in Türkiye. Here’s the story.
Uber x Getir
The ridesharing app has recently announced a landmark $335 million deal to acquire Turkish startup Getir’s food delivery arm, but the acquisition is still pending regulatory approval.
Uber is also reportedly looking at investing a $100 million stake for 15 percent in Getir’s grocery, retail, and water delivery units.
This acquisition has the goal to integrate Getir and Uber’s Trendyol Go platform, which the app also previously acquired a majority stake in.
Once approved by the authorities, Getir users shall continue using the existing app while gaining access to Trendyol Go’s restaurant network.
Individuals using Trendyol Go shall be able to access Getir services via the app. The deal is expected to close soon, subject to performance conditions.
What is Getir?
Getir is a Turkish company that offers ultra-fast and on-demand delivery services for groceries and daily essentials. Consumers could get their food, groceries, daily essentials, and deliveries in just around 10 to 20 minutes.
The company makes use of “dark stores,” or small, local urban warehouses to fulfill the orders rapidly.
Getir’s financial woes
Getir has served people well over the years, ever since it was founded in 2015. At a particular point, the company was even a decacorn – a business that is valued at over $10 billion – and had a strong presence in Germany. The previous majority owner was Mubdala Investment, a massive sovereign wealth fund from Abu Dhabi in UAE, which invested in Getir and its various subsidiaries in 2021.
However, in recent years, the delivery service struggled with financial problems. It repeatedly required cash injections, withdrawing from all foreign markets, including Germany and USA. Thank you to Mubdala Investment, these issues were treated well.
Future plans following the acquisition
Reports are saying that with this acquisition, Uber will maintain both the Turkish brands, Getir and Trendyol Go. Trendyol consumers could order more groceries through the app. Restaurants available via Trendyol will also appear on the Getir app.
Trendyol is a leading Turkish eCommerce marketplace offering fashion, electronics, groceries, and lifestyle products. It connects millions of buyers with local and international sellers, providing fast delivery, discounts, secure payments, and literally so much more.
Meanwhile, Uber is a worldwide ride-hailing platform that connects passengers with nearby drivers through a mobile app. Passengers enter a destination, receive fare estimates, track rides in real time, and pay digitally. This app also offers food delivery – through Uber Eats – freight, and courier services, making transportation and logistics more accessible and efficient across the globe.
Uber and Mubdala Invesstment did not disclose with ridesharing media the full financial details. For more ridesharing and food delivery news, stay with the Ridesharing Forum site.