Grocery app Getir exits US, Europe to focus on Türkiye
ISTANBUL
Turkish grocery delivery app Getir has announced its decision to pull out from the United States and its remaining locations in Europe, redirecting its attention to its domestic market.
Getir said in a statement that it was leaving the U.K., Germany, the Netherlands and the U.S., countries where it generated 7 percent of sales.
Getir will focus on Türkiye, its main market where it sees the greatest potential for long-term sustainable growth," the company said.
It also said Getir secured new financing from Mubadala and G Squared, a global venture capital fund manager, and will use the resources "to strengthen its competitive position in its business in Türkiye."
The news comes a year after the company announced it was cutting nearly 2,500 jobs in the five countries where it was present.
Founded in Istanbul in 2015, Getir won substantial financial backing from investors such as the California-based investment funds Sequoia Capital and Silver Lake Partners, as well as the Abu Dhabi-based sovereign wealth fund Mubadala.
Getir reached its zenith during the coronavirus pandemic, when restaurant and grocery deliveries boomed.
It expanded to nine countries on three continents, with its yellow-and-purple delivery scooters spotted across European capitals, as well as U.S. cities such as Chicago and New York.
In 2022, Getir acquired German rival Gorillas for $1.2 billion, but the rapid expansion never translated into consistent sales, and the company began closing many of its European locations.
Getir had previously withdrawn from Spain, Portugal, Italy and France.
The fast delivery sector, which has been growing strongly since 2020, has been hit hard by inflation globally, even as the companies themselves have had to slash prices to stay afloat in the highly competitive sector.
