Subj : Bad news Getir customers - delivery service closes US, UK, Europe
To   : All
From : TechnologyDaily
Date : Tue Apr 30 2024 10:45:05

Bad news Getir customers - delivery service closes US, UK, Europe operations

Date:
Tue, 30 Apr 2024 09:30:00 +0000

Description:
Leading grocery delivery company Getir has retreated from major markets to 
focus on expanding in Turkey.

FULL STORY
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In a surprising twist, Turkeys grocery delivery company, founded as a startup 
in 2015, has pulled out of several major markets including the US and the UK 
to focus on its home country. 

The decision to stop trading in the US, UK and Europe, as reported by 
TechCrunch , has come as a shock, with the company previously valued at 
nearly $12 billion. 

Reports suggest that Getirs decision to retreat from major markets to focus 
on operations within Turkey is a result of a poor quick commerce delivery, 
with fewer people spending on near-instant deliveries of groceries. Getir 
retreats to Turkey 

Fueled by billions in funding and strategic acquisitions, Getir had spent a 
number of years expanding aggressively to the point that it was considered a 
market leader in many markets. 

The widespread closures are expected to impact approximately 6,000 jobs, 
although the company asserts that only 7% of its revenue would be affected. 
In a statement, Getir said: This decision will allow Getir to focus its 
financial resources on Turkey. 

Of the 6,000 or so job cuts, around 1,500 are expected to be centered in the 
UK. Other heavily affected markets will likely include Germany, where the 
company acquired Gorillas in 2022, and the US, where Getir acquired 
FreshDirect in late 2023. 

Getir is now victim to the very factors that propelled its business to 
success in the first place consumers increasingly turned to online shopping 
for convenience and safety during the pandemic, but shopping habits are now 
returning to pre-pandemic norms. 

Despite the setback, Getir has announced a new injection of cash for the 
Turkish market with investments from Mubadala and G Squared two companies 
that have already previously backed the company. 

 TechRadar Pro has asked Getir to add further context, but the company did 
not immediately respond. More from TechRadar Pro These are the best ecommerce 
platforms Take your business online with the best free website builders AWS 
plans hundreds of job cuts as Amazon downsizing continues



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Link to news story:
https://www.techradar.com/pro/bad-news-getir-customers-delivery-service-closes
-us-uk-europe-operations


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