Janice R. Andrews
The well-known “instant delivery” provider Getir has made a calculated choice to leave a number of foreign countries, including the US, UK, Germany, and the Netherlands. Consolidating its activities within its own nation of Turkey is the goal of this audacious effort. Notwithstanding the drawbacks resulting from this choice, Getir is well-positioned to use fresh investments to strengthen its position in the Turkish market.
Approximately 6,000 employment within the corporation are anticipated to be impacted by the cessation of operations in the aforementioned nations. This action demonstrates Getir’s dedication to reducing its resources and focusing on its primary market. In contrast to conventional shopping platforms like Instacart, Getir has made a name for itself by setting up micro-fulfillment centers in cities, making it possible to have groceries and other necessities for the home delivered in a matter of minutes.
Getir, which was once estimated to be worth an astounding $12 billion, had a sharp increase in growth during the pandemic as a result of changing customer purchasing patterns. But given the ambiguity surrounding customer behavior following the lockout, the business has decided to reassess its plan and give its Turkish businesses first priority.
Getir confirmed in a statement to TechCrunch that the company will be able to more efficiently utilize its financial resources within Turkey as a result of this strategic realignment. The company’s decision to concentrate on its most profitable market is demonstrated by the fact that the markets it was leaving behind generated just 7% of its total revenue.
Getir has managed to raise a sizable amount of capital to strengthen its position in Turkey in spite of the reorganization and reduction that come with its worldwide withdrawal. Prominent investors, such as Mubadala and G Squared, have demonstrated their faith in Getir’s decision to focus only on the Turkish market, highlighting the potential they saw inside it.
FreshDirect, a US subsidiary of Getir that was purchased in late 2023, will carry on with its business, but the company has made it clear that it is open to offers for its assets in the markets it is leaving. This action is indicative of Getir’s strategic approach to portfolio optimization and value maximization.
After being established in 2015, Getir quickly became well-known for its quick and effective delivery services in its native Turkey. The business has received more than $2.3 billion from investors over the years, supporting its audacious plans to expand internationally. As of early 2023, Getir employed 32,000 people, a testament to both its rapid ascent and its steadfast dedication to innovation and expansion.
Getir is still well-positioned to succeed in its mission to transform the instant delivery market if it adjusts its approach and concentrates its resources on its Turkish stronghold. Getir is well-positioned to strengthen its leadership position in the quickly changing e-commerce and fast delivery services sectors by leveraging fresh investments and focusing more on its core business.
