Skip to main content

Market Overview

Turkish Delivery App Getir Seeks To Raise $500M At $7B Valuation: Bloomberg

Share:
Turkish Delivery App Getir Seeks To Raise $500M At $7B Valuation: Bloomberg
  • Turkish retail delivery app, Getir is planning at least $500 million at a minimum valuation of $7 billion to fund its U.S. expansion, Bloomberg reports.
  • Getir is aiming for a U.S. initial public offering after two years.
  • Startups like Getir and Berlin’s grocery delivery app Gorillas speedily reached billion-dollar valuations from the pandemic induced demand surge.
  • London’s Deliveroo partnered with grocer Waitrose to expand its delivery service to 150 shops across the U.K. by the end of the summer.
  • U.S. food delivery company DoorDash Inc (NYSE: DASH) is also seeking acquisitions in Europe.
  • Earlier this year, Getir initiated its overseas expansion in London. It plans to start operations in Brazil in the second half of this year, depending on the pandemic.
  • Some of Getir’s existing investors have expressed interest in joining the deal.
  • Getir last raised $300 million in March at a $2.6 billion valuation in a Sequoia Capital and Tiger Global-led funding round.
 

Related Articles (AGC + DASH)

View Comments and Join the Discussion!

Posted-In: Bloomberg Briefs Food Delivery TurkeyNews Tech Media

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com