With international growth plans sputtering, rapid grocery delivery company Getir is exiting the U.S., United Kingdom, Germany, and The Netherlands to focus on its core market in Turkey.
The company was reportedly struggling financially in its developing markets, with only about 7 percent of its revenue outside of Turkey.
Getir completed the acquisition of New York-based FreshDirect in December, and the start-up rapid delivery Gorillas in 2022.
It is unclear whether FreshDirect BB #:164151, in business in New York for the past 25 years, will continue to operate. Getir is reportedly looking to sell the company.
On April 18, Bloomberg reported that Getir – once valued at $12 billion – is burning through an estimated $50 million a month and had been in merger discussions with German rival Flink.
