Getir is reportedly preparing to exit the UK market amid financial difficulties for the rapid grocery delivery startup.
Getir was once valued at £9.7bn and is among the largest players in rapid delivery. The Turkish company grew quickly in 2020 and 2021, expanding into more and more markets with VC cash-backed acquisitions of existing firms like Weezy, BLOK and Gorillas.
The company is now close to announcing an exit from the UK, according to reports from Sky News.
The exit would also see Getir leave its remaining European locations – Germany and the Netherlands – to focus on its home market in Turkey.
Getir previously exited the Spanish and Italian markets in cost-saving measures.
It was reported that approximately 1,500 UK-based Getir jobs will be at risk if the decision goes through.
A spokesperson for Getir told UKTN the company does not comment on “market rumours”.
The rapid grocery delivery market has struggled to meet the high financial expectations set by the hefty VC investments and valuations given during the Covid-19 pandemic.
London-based Zapp last week posted its 2022 accounts, revealing losses at the startup grew from £76m to £92.5m. A spokesperson for Zapp, however, told UKTN that its upcoming 2023 accounts show the firm is “operationally profitable”.
The most recent UK accounts for American rapid delivery firm GoPuff, meanwhile, showed that despite significant turnover growth, expenses had pushed it into losing £93.8m.
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