Turkish delivery company Getir has bought German rival Gorillas in a deal worth $1.2 billion that will merge two of the remaining companies in Europe promising groceries in minutes.
Serkan Borancili, who founded Istanbul-based Getir in 2015, shared the price tag on Twitter on Friday and said the combined company was now stronger.
The deal price is down sharply from Gorillas’ $2.1 billion valuation in its previous funding round in late 2021 – a sign the sector has fallen out of favour as companies battle to achieve profitability, join forces, or fold.
