Getir, the food delivery company that made headlines by withdrawing from the European and US markets in recent months, is now back in the spotlight with a new investment. According to the latest information, the company will receive a significant investment from Abu Dhabi’s sovereign wealth fund Mubadala, its largest shareholder, but it will also undergo a split. Here are the details.
Getir is set to undergo a division with the new investment
Facing financial difficulties, Getir had announced the cessation of its overseas operations. Now, with the infusion of up to $250 million in new capital from Mubadala, the company will split into two independent entities.
The investment aims to further expand Getir’s distribution network in the Turkish market and streamline its operations. One entity will focus on food and grocery delivery operations, while the other will manage Getir’s other assets.
In this split, current executive Batuhan Gültakan will lead one entity, while Getir founder Nazım Salur will not hold any role in the food and meal distribution side. It’s noted that Nazım Salur will focus on other services such as BiTaksi and Getir Araç.
With this new investment and company division, Getir aims to gain a larger market share and establish a more extensive distribution network. The move also indicates a strategic shift towards focusing more on its core services.
What are your thoughts on Getir’s new investment and split? Feel free to share your opinions in the comments.
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