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Getir

Quick commerceTurkey
✂️ Markdown
Peak $11.8 BillionToday
~-95%
from peak
  1. 🦄
    Became a unicorn
    2021
  2. 📈
    Peak valuation
    $11.8 Billion ’22
  3. 💔
    Became a Unitard
    2023
  4. 💸
    Last valuation
    ~$590M
Current status
Fell from $11.8B to a $2.5B 2023 round, then a 2024 Mubadala emergency recap of its Turkey-only business at an implied valuation around $0.5B

How it happened

Getir was the Turkish quick-commerce pioneer that promised grocery delivery in minutes and, at the height of the 2021-22 boom, expanded across Europe and the US to reach an $11.8B valuation backed by Mubadala, Sequoia and Tiger Global. The instant-delivery bubble burst: a September 2023 round cut its valuation to $2.5B, and Getir retreated from the US, UK, Germany and the Netherlands to focus on Turkey, before a 2024 Mubadala recapitalization implied a value well below $1B. Insiders had described the contraction early — reviews recount a 2022 layoff wave that pushed talented staff out, abrupt top-down decisions handed down without feedback, and, on the front line, couriers reporting chaotic scheduling and delayed pay.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.

Source: Sifted / GlobalSWF / AGBI (Turkish quick-commerce pioneer backed by Mubadala, Sequoia and Tiger Global; peaked at an $11.8B valuation in March 2022; a Sept 2023 round cut it to $2.5B; after exiting the US, UK, Germany and Netherlands, Mubadala led a $250M emergency recapitalization in 2024 taking majority control of the Turkey-only business, implying a valuation well under $1B)

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