Uber announced Monday that it has agreed to acquire the delivery business of Turkey’s Getir, which has been one of the biggest success stories in the country’s startup ecosystem.
The deal will see Uber pay an initial $335 million to acquire Getir’s food delivery business. The ride-hailing giant said it would pay $100 million for a 15% stake in Getir’s grocery, retail and water delivery businesses and would complete the acquisition of those sectors in the next few years.
Uber is set to acquire the business from Getir’s largest shareholder, Emirati sovereign wealth fund Mubadala. The investment company is known to have sought to sell its shares in the company last year.
The deal comes after a tumultuous few years in which Getir, which once enjoyed a $12 billion valuation, drastically scaled back its operations. The company gained significant traction in 2015 and has invested aggressively to expand its operations in the U.S. and Europe, both organically and through acquisitions, especially during the pandemic.
But widespread consumer demand for food and grocery deliveries also faltered after pandemic lockdowns were eased, and Getir decided to cut losses in 2024, closing stores in the US, UK and Europe and laying off thousands of employees to focus on its home business.
Almost a year ago, the company went through a struggle to control Mubadala’s proposed restructuring plan. The plan was opposed by one of Getir’s co-founders, who eventually filed a lawsuit to fight the “illegal coup”, but a Dutch court rejected the founder’s appeal.
The company has raised a total of $2.4 billion to date, according to PitchBook. Documents filed by Getir in court last year showed the company valued the group’s assets at $374 million.
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“This transaction reflects the strength and progress of our business, particularly over the past year,” Waleed Al Mokarrab Al Muhairi, Mubadala’s group deputy CEO, said in a statement.
Uber said it would combine the new division’s services with Trendol Go, the Turkish food and grocery delivery service it acquired for $700 million in May. Uber said Getir’s food delivery business alone will generate more than $1 billion in total bookings in 2025. This is a 50% increase compared to the previous year.
The deal follows a strong performance for Uber’s delivery business in the fourth quarter, with revenue of $4.89 billion, up 30% year-over-year. The company said that Europe, the Middle East and Asia have proven to be the fastest growing regions for its business in 2026.
