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Turkish grocery shopping platform Getir bought German rival Gorillas for $1.2 billion to expand its operations in Europe.
Turkish fast delivery startup Getir has signed an agreement to buy German rival Gorillas.
With the acquisition, the combined value of the two companies reached $10 billion.
In the news in the Financial Times, it was stated that the explosion in start-up financing during the pandemic period brought together the two big winners of Europe, Getir, and Gorillas, and the two companies have received more than 3 billion dollars in investment from venture capital funds since 2020.
While many start-up companies that offer grocery delivery services through the application were shut down, Getir, the US-based GoPuff, and Germany-based Flink remained the major players in the industry.
After the agreement, Kağan Sümer, one of the founders of Gorillas, is expected to leave the company in 2020.
About Getir :
The company was founded on July 9, 2015, by Turkish entrepreneur Nazım Salur.
In the second half of 2019, Getir doubled its orders, reaching almost 1.5 million in December of that year. The company generated $120 million in revenue from sales in 2019.
In January 2021, Getir started serving in London. It started to serve in Amsterdam in May of the same year, and in Berlin and Paris in June. In July 2021, the company acquired the entire BLOK fast grocery delivery app, serving Spain and Italy. BLOK continued under the name Getir and started to serve in Lisbon.
Getir took over 75% of the shares of MOOV, a vehicle-sharing application operating within the Anadolu Group, with the approval of the Competition Authority dated September 23, 2021.