Uber to Acquire Getir’s Delivery Business for $335M

Ride-hailing giant Uber Technologies agreed on Monday to acquire the food delivery operations of Turkish startup Getir in a major move to solidify its dominance in Turkey’s booming delivery sector. The official announcement marks a significant consolidation in the region’s quick-commerce market.

Inside the $435 Million Multi-Phase Deal

Under the terms of the agreement, Uber will pay $335 million upfront to take full control of Getir’s food delivery division. Additionally, the company is investing $100 million to secure a 15% minority stake in Getir’s remaining business units, which include its grocery, retail, and water delivery operations. Uber plans to fully absorb these remaining segments over the coming years.

The acquisition sees Uber purchasing these assets directly from Mubadala, the Emirati sovereign wealth fund and Getir’s primary shareholder. Reports from last year indicated that the Abu Dhabi-based investment firm was actively seeking to divest its holdings in the struggling Turkish delivery pioneer.

The Rise and Fall of a $12 Billion Startup

This transaction follows a highly volatile period for Getir, which was once celebrated as one of Turkey’s most valuable tech unicorns with a peak valuation of $12 billion. Founded in 2015, the startup experienced rapid growth and expanded aggressively across Europe and the United States through both organic launches and high-profile acquisitions, fueled by the pandemic-era delivery boom.

However, as pandemic restrictions lifted and global consumer demand for rapid grocery delivery cooled, Getir faced severe financial pressure. In 2024, the company withdrew from the U.S., the U.K., and European markets, laying off thousands of employees to consolidate its remaining operations back in Turkey.

Internal Strife and Legal Battles

The downsizing was accompanied by intense corporate infighting. Last year, Getir’s leadership was fractured by a bitter struggle for control over a restructuring strategy proposed by Mubadala. One of Getir’s co-founders legally challenged the plan, labeling it an “illegal coup,” but a Dutch court ultimately dismissed the appeal.

Despite raising a staggering $2.40 billion in venture capital throughout its lifecycle, according to PitchBook data, Getir’s financial standing had shrunk dramatically. Court documents filed during the legal dispute revealed that the company valued its total group assets at just $374 million last year.

Uber’s Strategic Integration and Market Expansion

Despite past struggles, Mubadala executives view the sale as a successful transition. Waleed Al Mokarrab Al Muhairi, Deputy Group CEO at Mubadala, stated that the transaction highlights the underlying strength of the business and the operational progress achieved over the past year.

Uber plans to integrate Getir’s food delivery services with Trendyol Go, a prominent Turkish food and grocery delivery platform that Uber acquired for $700 million in May of last year. The acquisition adds a highly lucrative asset to Uber’s portfolio; Getir’s food delivery segment generated over $1 billion in gross bookings in 2025, representing a 50% year-over-year increase.

This expansion aligns with Uber’s stellar financial performance in its global delivery division. In its fourth-quarter earnings report, Uber reported delivery revenue of $4.89 billion, a 30% increase compared to the previous year. The company highlighted Europe, the Middle East, and Asia as its fastest-growing geographic segments heading into 2026.