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Getir pulls out of US, UK, Europe to focus on Turkey — 6,000+ jobs impacted
True to its business concept, Turkey's "instant delivery" juggernaut Getir rose quickly. Now, with the quick commerce industry in free fall, it is
On Monday, the company — once valued close to $12 billion — announced it would shut down its operations the U.S., the U.K. and Europe to focus solely on its home market of Turkey. Getir did not disclose who else was participating, nor how much it raised, nor whether this is equity or debt, so it’s hard to say what this means beyond giving the company some runway and a chance at focusing on one market that has worked. In May 2023, it cut 14% of staff and cancelled large parts of its geographic expansion plans as it scrambled to right-size the business ahead of more fundraising.
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