Deal Structure And Assets
Uber said it has agreed to acquire the food delivery business of Turkey’s Getir, marking the latest step in the restructuring of a company that was once among the most prominent startups in the country’s tech sector. Under the agreement announced on Monday, Uber will pay $335 million upfront for Getir’s food delivery unit and will also invest $100 million for a 15% stake in Getir’s grocery, retail, and water delivery business. Uber said it plans to complete the acquisition of that remaining division over the next few years.
Uber is buying the business from Getir’s largest shareholder, the Abu Dhabi-based sovereign wealth fund Mubadala, which had been seeking to sell its stake in the company last year. Waleed Al Mokarrab Al Muhairi, Mubadala’s deputy group chief executive, said the transaction reflects the progress the business has made over the past year.
Getir’s Rise And Retrenchment
The agreement follows several difficult years for Getir. The company, which launched in 2015, expanded rapidly in the United States and Europe during the pandemic, both organically and through acquisitions, and at one point reached a valuation of $12 billion. After demand for food and grocery delivery eased, the company cut back its international operations in 2024, closed businesses, and laid off thousands of employees in the United States, the United Kingdom, and Europe to refocus on its home market.
Nearly a year ago, Getir went through a dispute over a restructuring plan proposed by Mubadala. One of the company’s co-founders opposed the plan and filed a lawsuit, but a Dutch court rejected the appeals. Getir has raised $2.40 billion in total, according to PitchBook, and court filings last year showed the company valued its group assets at $374 million.
Uber’s Regional Delivery Strategy
Uber said it will combine Getir’s food delivery operations with Trendyol Go, a Turkish food and grocery delivery service that Uber acquired for $700 million last May. The company said Getir’s food delivery business recorded more than $1 billion in gross bookings in 2025, an increase of 50% from the previous year.
The acquisition follows a strong quarter for Uber’s delivery segment. The company reported delivery revenue of $4.89 billion in the fourth quarter, up 30% from a year earlier, and said Europe, the Middle East, and Asia were the fastest-growing regions for that business in 2026.
Featured image credits: Wikimedia Commons
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