Getir (Turkish pronunciation:[ɟeˈtiɾ]; "bring" in Turkish) is a Turkish company operating in several countries founded as a startup company in 2015 that offers on-demand delivery services for grocery items and a courier service for restaurant food deliveries, accessed via a mobile app.[1][2]
In March 2022, Getir announced that it had raised US$768 million in its Series E, valuing the company at nearly $12 billion,[3] but a further funding round in mid-2023 valued the company at a quarter of that figure.
History
The company was founded in 2015 by a team including Nazım Salur, who also founded the Turkish ride-hailing app BiTaksi.[4][5] Getir expanded rapidly since then, having doubled its orders in the second half of 2019 to reach almost 1.5 million in December of that year.[2] It generated $120 million from sales in 2019.[6]
In July 2021, Getir bought Spanish online grocery startup BLOK, adding several major cities in Southern Europe to its delivery spots.[7] On 23 November 2021, Getir bought U.K.-based hyper fast grocery delivery startup Weezy.[8]
In March 2022, the company closed a Series E funding round, raising $768 million, with Mubadala Investment Company leading the round, making Getir's valuation $12 billion.[3]
In November 2022, Getir announced a partnership with the Dutch online food ordering company Just Eat Takeaway, that will integrate Getir's portfolio with apps under Just Eat Takeaway.[9]
Getir acquired rival firm Gorillas in December 2022 for $1.25bn.[10][11]
In June 2023, Getir withdrew from Spain and Portugal, and halted operations in France.[12] Getir was reported to be selling UK assets and closing warehouses, and considering the closure of its UK business.[13]
Getir does not publicize its revenues or profit, although leaks suggest it made $1 billion revenue in 2021. A May 2023 report quotes Getir's CEO Nazim Salur as saying that the company was profitable in some markets in Turkey, but the business as a whole was and would continue not to be profitable as it expanded.[14]
In September 2023 the company was seeking $500m in an equity funding round that would value the company at $2.5bn, a quarter of the March 2022 value. Many other grocery delivery companies had flourished during the covid pandemic, but closed down when demand later plummeted.[15][16]
In November 2023, Getir acquired FreshDirect, a competing online grocery company operating in the US.[17]
Operations
Getir's electric vehicles in Rotterdam
All five of the company's services ("ultrafast" delivery, takeaway food delivery, online grocery shopping, online water ordering, ordering from local businesses, ordering a taxi (via BiTaksi), and finding local employment) are offered through a single Getir app.[18][19]
Locations
As of November 2021, Getir services were offered in all 81 Turkish provincial capital cities, 15 UK cities, 15 Dutch cities, 7 German cities, and 3 US cities. In mid-2023 it withdrew from France, Italy, Spain, and Portugal, following a drastic reduction in sales after the boom during the COVID-19 pandemic.[20]
While many fast delivery companies flourished during the covid pandemic years of 2020–2022, demand later decreased greatly and many companies closed. As of September 2023[update] Getirs principal global competitors were the UK's Zapp and US-based Gopuff.[15] Other large delivery companies which had been delivering meals were branching out into Getir's market of grocery deliveries. They include Uber Eats, Just Eat and Deliveroo, and, in the UK, supermarkets were offering rapid delivery services: Tesco's Whoosh, Sainsbury's Chop Chop and Ocado's Zoom.[16]
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