Uber to Acquire Getir's Delivery Portfolio in Turkey

By Chris Stiles • Monday, February 09 12:19 • Permanent Link

Uber Technologies, Inc. (NYSE: UBER) has announced its agreement to acquire Getir's delivery portfolio in Turkey, including food, grocery, retail, and water delivery. This acquisition, subject to regulatory approval and other closing conditions, marks Uber's continued investment in Turkey and the next phase in Getir's growth journey.

After the deal closes, Uber plans to combine the strengths of Getir and Trendyol Go, increasing selection for consumers and driving increased demand to restaurants and retailers across Turkey. Getir consumers will continue to access delivery services through the Getir super app, with the benefit of more restaurants from Trendyol Go. Additionally, Trendyol Go customers will be able to access Getir’s grocery offerings directly through the Trendyol Go app.

Dara Khosrowshahi, CEO of Uber, stated, "By bringing together these leading platforms, we aim to support the continued growth of a vibrant and competitive ecosystem, that delivers even more value for consumers, couriers, and merchants."

Mubadala Investment Company has been a committed partner to Getir and supports the company in building a leading food and on-demand delivery platform in Turkey. Waleed Al Mokarrab Al Muhairi, Deputy Group CEO at Mubadala Investment Company, emphasized that "Türkiye remains a highly attractive market for Mubadala, and we continue to evaluate long-term investment opportunities in the country."

Batuhan Gultakan, CEO of Getir, expressed excitement about the agreement and bringing Getir’s ultrafast delivery expertise to Uber’s global ecosystem. He also highlighted the achievements of the team with the support of Mubadala and looks forward to the next chapter of growth as part of the Uber family.

This acquisition demonstrates Uber's commitment to investing in Turkey for the long term and its strategy to enhance the experience for consumers, couriers, restaurants, and retailers. As a result of these announcements, the company's shares have moved 0.56% on the market, and are now trading at a price of $84.85. Check out the company's full 8-K submission here.

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