Turkish fast delivery service Getir buys competing platform Gorillas Technologies

Delivery services have become especially popular against the backdrop of the coronavirus pandemic. During persistent and prolonged lockdowns, fast and high-quality delivery became a priority for people in Europe, the U.S., Asia, and other countries. People, who had to spend most of their time at home, needed fast delivery of goods, especially food and groceries. Such conditions prepared a fertile ground for new startups and services providing delivery services.
For example, the German startup Gorillas Technologies GmbH acquired its main competitor, the Turkish fast delivery service Getir, late last year. The deal cost the Turkish company $1 billion. Nazim Salur, Getir’s founder, announced this on Twitter. According to him, the company’s move underscores its leadership in the market.
The merger with Gorillas Technologies GmbH allowed Getir to reach a value of $10 billion. In addition, the deal gave Getir access to Gorillas’ customers in six countries, thereby expanding the company’s presence in new markets. These include the European market, particularly the U.K. and Germany. This makes the Turkish delivery service one of the leaders in the industry, including companies such as Germany’s Flink and the U.S.’s GoPuff.

fast delivery service GetirThe German delivery service Gorillas is notable because it quickly attracted investment as a young startup after its creation in 2020. The service has become very popular and widespread, helped by the pandemic as well. Users in need of quality services appreciated the convenience and speed of delivery. The year after the pandemic began, Gorillas had another round and received $1 billion in funding.
In 2022, however, the service began to rapidly lose popularity. The founders worked hard to attract new investment, but since May orders have continued to fall. Management had to optimize business processes and cut jobs, laying off some workers in their offices. The situation forced representatives of Gorillas to negotiate with some competitors about a possible merger or sale of the company.
Earlier this year, Getir closed a $768 million funding round led by Abu Dhabi state investor Mubadala, which valued the company at about $12 billion. Getir also became one of the first companies to test a rapid-commerce model backed by venture capital from Sequoia and Tiger Global.
All of this demonstrates that the Turkish company continues to grow, thereby rapidly outshining competitors in the European market.