Uber to buy delivery arm of Turkey’s Getir

Source: TechCrunch

Deal Details

• Uber will pay $335 million upfront to purchase Getir’s food‑delivery business.
• An additional $100 million will be paid for a 15 % stake in Getir’s grocery, retail, and water‑delivery operations.
• The acquisition will be completed over the next few years.

The purchase is being made from Getir’s largest shareholder, the Emirati sovereign‑wealth fund Mubadala. Mubadala had been reported to be exploring a sale of its stake in Getir last year.

“This transaction reflects the strength of the business and the progress it has made, particularly over the last year,” said Waleed Al Mokarrab Al Muhairi, deputy group CEO at Mubadala.

Background on Getir

• Founded in 2015, Getir quickly became a leading instant‑grocery and food‑delivery startup in Turkey.
• The company aggressively expanded its operations in the U.S. and Europe, both organically and through acquisitions, especially during the pandemic.
• At its peak, Getir was valued at $12 billion.

After pandemic lockdowns eased, consumer demand for food and grocery delivery waned. In 2024, Getir cut its losses, shutting down operations and laying off thousands of staff in the U.S., U.K., and Europe to refocus on its core Turkish market.

Legal and Ownership History

• About a year ago, Getir faced a struggle for control when Mubadala proposed a restructuring plan. One of Getir’s co‑founders sued, alleging an “illegal coup,” but a Dutch court rejected the appeal.
• The company has raised a total of $2.40 billion to date (PitchBook).
• Court‑filed documents show Getir valued its group assets at $374 million.

Financial Performance

• Getir’s food‑delivery business recorded gross bookings of more than $1 billion in 2025, a 50 % increase from the previous year.
• Uber’s overall delivery segment reported revenue of $4.89 billion in Q4 2025, up 30 % year‑over‑year, with Europe, the Middle East, and Asia being the fastest‑growing regions in 2026.

Future Integration

Uber plans to combine the newly acquired unit with Trendyol Go, a food and grocery delivery service in Turkey that Uber purchased for $700 million in May 2025. This integration aims to strengthen Uber’s presence in the Turkish market and expand its delivery ecosystem across the region.