Getir buys German rival Gorillas for $1.2 billion

Turkiye’s leading fast delivery startup Getir bought its German rival Gorillas for $1.2 billion. Turkish fast delivery startup Getir has signed an agreement to buy German rival Gorillas.

The value of Gorillas, which was expressed as $3 billion in September, was determined as around $1.2 billion. Getir also reduced its own value by about a quarter. Getir’s value increased to $11.8 billion with an investment of $800 million in March.

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 that the 2 companies received more than $3 billion investment from venture capital funds since 2020.

While many start-up companies that offer market 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 was reached, Kagan Sumer, one of the founders of Gorillas in 2020, is also expected to leave the company.

Source: Egirisim / Translated by Irem Yildiz

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