Delivery Firm Getir, Once Valued at $12 Billion, Weighs Sales and Market Exits
- Investors want delivery startup to drastically cut costs
- 10-minute delivery apps boomed in pandemic but few remain
A courier for the food delivery service Getir rides along a street in Barcelona, Spain.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Getir, once a darling of the delivery startup world valued at $12 billion, is weighing asset sales and potential exits from non-core markets as it faces pressure from investors to cut its losses.
The Turkish grocery delivery company, which saw business skyrocket during the Covid-19 pandemic as deliveries surged, is now exploring options including selling off or shuttering assets around the world, people familiar with its situation said. Any potential sales would exclude its core Turkey operations, said the people, who asked not to be identified discussing private negotiations.