Turkey approves Uber's Getir delivery acquisition

Key Takeaways

• Turkish regulators approved Uber's acquisition of Getir's delivery business from Mubadala
• Uber commits to $500 million investment in Turkey as part of the deal
• The acquisition marks a major consolidation in quick-commerce after Getir's retreat from international markets

The Turkish Competition Board has approved Uber's acquisition of Getir's delivery business, clearing the final regulatory hurdle for a deal that reshapes quick-commerce in the region. The approval, announced Friday, allows Uber to absorb the delivery arm of what was once Turkey's most valuable startup from its current owner, Abu Dhabi sovereign wealth fund Mubadala.

As part of the deal, Uber has committed to invest $500 million in Turkey. The Turkish Competition Board framed this commitment as a net positive for the country's tech sector.

“The commitment by Uber Technologies Inc. to invest a total of US$500 million in Turkey is expected to support high-quality employment, strengthen local engineering capabilities, and positively contribute to the development of Turkey's digital and technology infrastructure.”

— Turkish Competition Board

What happened to Getir?

Getir's trajectory reads like a cautionary tale for venture-backed growth at any cost. Founded in Istanbul in 2015, the company pioneered ultrafast grocery delivery with a 10-minutes-or-less promise. The model caught fire during the pandemic, when locked-down consumers wanted groceries without leaving home. By 2022, Getir had raised over $1.1 billion in funding and hit a peak valuation above $12 billion, making it Turkey's first decacorn.

Then the music stopped. As interest rates rose and venture capital dried up in 2022 and 2023, investors started asking uncomfortable questions about unit economics. Getir had expanded into nine countries, including the US, UK, Germany, France, and Spain. Maintaining dark stores and delivery fleets across multiple continents burned cash at an unsustainable rate.

The retreat was swift. In 2024, Getir pulled out of nearly every international market, including its entire US and European operations. Mubadala took control during a restructuring that wiped out earlier investors. Now Uber picks up what remains.

Why does Uber want Getir's delivery arm?

The acquisition fits Uber's broader strategy of expanding its delivery footprint, particularly in markets where it sees long-term growth potential. Turkey represents a sizable opportunity: a population of 85 million, a young demographic, and increasing smartphone penetration.

Uber has been building out its delivery capabilities since acquiring Postmates in 2020. Uber Eats now operates in over 10,000 cities globally. Adding Getir's Turkish infrastructure, including its dark store network and last-mile delivery expertise, gives Uber a ready-made operation in a market where building from scratch would take years.

The $500 million investment commitment likely sweetened the regulatory approval. Turkish authorities have grown increasingly focused on ensuring foreign acquisitions deliver tangible local benefits, particularly in technology and employment.

What this deal signals for quick-commerce

The Getir sale is part of a broader consolidation wave in quick-commerce. The sector attracted massive capital from 2020 to 2022, spawning dozens of well-funded startups promising 10-to-15-minute grocery delivery. Gorillas, Flink, Gopuff, and others raised billions collectively.

Most of those companies are now dead, merged, or dramatically scaled back. The economics never worked: the cost of maintaining neighborhood dark stores, refrigeration, and dedicated delivery couriers exceeded what customers would pay for the convenience. Traditional grocers and larger platforms like Uber, DoorDash, and Amazon are absorbing whatever assets remain at steep discounts.

For Uber, these distressed deals offer a cheaper path to delivery density than organic expansion. The company can be selective, picking up operations in markets that fit its existing footprint while avoiding the overextension that killed Getir's international ambitions.

What happens next?

With Turkish regulatory approval secured, the deal should close in the coming weeks. Integration will be the next challenge. Uber needs to absorb Getir's workforce, technology stack, and dark store network while maintaining service quality.

The $500 million investment commitment suggests Uber sees Turkey as more than a bolt-on acquisition. The company may use Istanbul as a regional hub for engineering and operations, similar to how it has built centers in other markets.

For Mubadala, the sale represents an exit from a troubled investment. The sovereign wealth fund took control of Getir during restructuring and has now found a buyer willing to take the Turkish operations off its hands. The terms of the sale have not been disclosed, but given Getir's collapse from a $12 billion valuation, expectations should be modest.

Frequently Asked Questions

How much is Uber paying for Getir's delivery business?

The purchase price has not been disclosed. However, Uber has committed to investing $500 million in Turkey as part of the deal, which helped secure regulatory approval.

Why did Getir sell its delivery business?

Getir struggled with profitability after rapid international expansion. The company retreated from markets outside Turkey in 2024 and underwent restructuring. Mubadala took control and then sold the delivery arm to Uber.

Will Getir still operate in Turkey after the acquisition?

Uber is acquiring Getir's delivery arm, which includes its Turkish operations. The Getir brand's future under Uber ownership has not been announced.

What was Getir's peak valuation?

Getir reached a peak valuation above $12 billion in 2022, making it Turkey's first and only decacorn at the time.

Source: Tech-Economic Times / ET