Istanbul-based Getir, an instant delivery company, announced on Friday, December 9, that it has acquired Berlin-based on-demand grocery delivery company Gorillas.
“This acquisition reaffirms our long-term commitment and dedication to the sector and underscores how Getir leads consolidation in the industry. It will allow us to provide an even better service to our valuable customers and affirms our belief that this sector has a bright future,” shares Getir in a LinkedIn post.
Getir acquired Gorillas at a value of around $1.2B, down from $3B in September last year, reports Financial Times. Currently, the deal values the combined group at $10B.
Gorillas’ acquisition will enable Getir to scale in important European markets, including the UK and Germany. A year ago, Getir acquired London’s grocery delivery company Weezy as a part of its expansion strategy.ย
Gorillas: What you need to know
Founded in 2020 by Kagan Sumer, Gorillas is a grocery delivery provider that claims to deliver desired goods from the cart to the doorstep in just 10 minutes.ย
During the COVID-19 pandemic, the German company expanded rapidly and became Europe’s fastest unicorn. In September 2021, Gorillas raised โฌ810M in funding in a Series C round, valuing the company at $3B.
The company laid off 300 team members in May to cut costs and extend its runway.
In June, Gorillas ceased operations in Belgium, handing off some of its businesses to Belgium’s organic and seasonal products delivery firm, Efarmz. As a result, around 240 employees lost their jobs.
The company also planned to close its operations in Denmark, Italy, and Spain, and focus on reaching profitability in its five key markets โ Germany, France, the UK, the Netherlands, and the US.
According to Gorillas, over 90 per cent of the company’s revenue comes from these markets.
Getir: Recent developments
Founded in 2015 by Nazฤฑm Salur, Serkan Boranรงฤฑlฤฑ, and Tuncay Tรผtek, Getir is a last-mile delivery platform with a 10-minute grocery delivery proposition.ย
In March, Getir reached decacorn status after raising nearly โฌ694M in a Series E round at a valuation of $11.8B. Mubadala Investment Company, Alpha Wave Global, Sequoia Capital, and Tiger Global backed the company.
Getir is operational in all 81 cities of Turkey. In addition, throughout 2021, Getir launched operations in cities worldwide โ the UK in January, the Netherlands in May, Germany, France in June, Spain, Italy in September, Portugal in October, and the US in November.
The company has associated businesses, including GetirFood, GetirMore, GetirWater, and GetirLocals.
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