Uber to buy delivery arm of Turkey’s Getir

Uber has made a significant move by announcing its acquisition of the delivery segment from Turkey's Getir, a prominent name in the nation's startup landscape. The ride-hailing powerhouse has committed to an initial payment of $335 million to take over Getir's food delivery operations. In addition to the food delivery acquisition, Uber will invest $100 million for a 15% stake in Getir's grocery and retail delivery service. The completion of this acquisition is set to unfold over the next few years, with the transaction being facilitated through Getir's largest shareholder, the Emirati sovereign wealth fund Mubadala, which has been looking to divest its stake. This acquisition comes at a challenging time for Getir, which once boasted a valuation of $12 billion but has since had to significantly downsize its operations. The company, which began its journey in 2015, aggressively expanded in the U.S. and Europe, especially during the pandemic. However, as demand for food and grocery delivery declined with the easing of lockdowns, Getir decided to pivot its focus back to its home market, leading to the closure of operations and layoffs across the U.S., U.K., and Europe. The past year has been tumultuous for Getir, marked by internal disputes regarding a restructuring plan proposed by Mubadala. One co-founder opposed this plan and pursued legal action, but a Dutch court ultimately sided with the restructuring efforts. Getir has raised approximately $2.40 billion to date, and its group assets were valued at $374 million according to court documents. Waleed Al Mokarrab Al Muhairi, deputy group CEO at Mubadala, expressed optimism about the deal, stating that it highlights the company's resilience and progress. Uber plans to integrate Getir’s food delivery services with Trendyol Go, another delivery platform it acquired for $700 million last May. Notably, Getir's food delivery operations reported gross bookings exceeding $1 billion in 2025, reflecting a 50% increase from the previous year. This acquisition aligns with Uber's strong performance in the delivery sector, as evidenced by its revenue growth to $4.89 billion in the fourth quarter, marking a 30% rise compared to the previous year, with Europe, the Middle East, and Asia emerging as the fastest-growing regions for the business in 2026.