News Instant grocery startup Getir makes its first acquisition in Spain and Italy

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Getir, Turkey-based startup, $ 7.5 billion business With the introduction of a mobile app that allows consumers to buy groceries and deliver them in minutes, it has grown its business organically. Targeting the European (and soon the United States) urban markets, it is confusing a well-stocked corner shop with the services it needs. Less effort and time from the average shopper. Currently, the first acquisition changed its strategy and expanded into three more countries.

The company is acquiring blockAnother “immediate delivery” grocery service based in Barcelona. The money for the deal wasn’t disclosed, but as I understand it, Blok (formerly known as Huvi Technologies) was bootstrapped and fairly new and small (released only in February 2021). I was already shopping.

Founded by Vishal Vama, Hunab Moreno and Varun Kapoor, Brock is active in Spain and Italy, with the largest markets being Madrid, Barcelona and Milan. Portugal is on the pre-Getir roadmap and will be available soon. As part of the contract, more than 120 employees will join Getir.
Getir has been around since 2015 and is profitable in Turkey with a combination of services that started with fast delivery, but then a wider range of grocery options (GetirMore, longer delivery turnaround), restaurant delivery (GetirFood). , Expanding to other categories such as local business. Delivery (GetirLocals), and … Water delivery (GetirWater).

This is given the momentum of Getir, which is currently using it to expand its flagship fast grocery model to other markets such as the UK — there is a moped in the London neighborhood. all Time — Holland, and Paris and Berlin.The· Hundreds of millions of dollars raised this year (Getir currently raises a total of about $ 1 billion) It will also be used to bring the company into the US market and will face domestic rivals directly in the same area, such as GoPuff.
But while it’s one of the earliest movers and perhaps the most capital-rich, Getir is by no means the only player of its kind.
Today, the European market is actively flashing with start-ups building services based on the same basic principles of ultra-fast delivery over an assortment of about 1,500 products. It’s usually much smaller than what you’ll find in a grocery store (17,000 is a normal number). (There), and close to what you might get in the small market of a kind of quick stop that exists throughout the heart of the European city.


For these startups Flink, gorilla, Globo, Zap, Dija, Cajoo, Wheezy Getir’s CEO and co-founder, Nazim Salur, has raised hundreds of millions of dollars in bulk from many other companies to expand its business, but still less than $ 2 billion.

Partly supported by the fact that the pandemic and many people live under a stay-at-home order, or that they are keen to stay away from public places to minimize the Covid-19 epidemic. , The take-up was pretty enthusiastic. It also gained some traction as millennials and other young consumers actually started using their phones for all the practical chores that turned into leisure activities when it came to apps.

Prior to Covid, Getir had tripled each year, but Salur said it has grown five-fold in a few years, including 2017. “During the period of Covid, we also grew five-fold, but without it it quadrupled. It accelerated our growth, but Covid is the Lord people use us. That’s not the reason, mainly because we are very convenient. That means we can grow. In Turkey, life is back to normal, but every month we are growing. “

Still, is it a big enough market for all these players? I’ve already heard that at least one person is having a hard time procuring more because of competition. Capital is important when considering the balance between logistics and delivery. From dark stores to inventories, you have to sell the product itself, not to mention fierce competition. As a result, we are looking for a buyer.

In that context, I’ve heard that Blok hasn’t raised any noteworthy funding on its own and was ready to sell out within six months of its launch while building a team of some technology and people. But it may not come as a surprise.

“We are very excited to work with ultra-fast delivery pioneers on the common goal of leading the on-demand grocery market in Southern Europe,” Brock said in a statement. .. “This acquisition allows us to leverage Getir’s deep industry know-how, relationships and technologies, combined with world-class teams and execution capabilities to create formidable leaders in this part of the world. We’ve had a huge response from every launch in Italy and can’t wait to double our efforts with Getir. “

However, despite this very obvious integration situation, Getir does not intend to enter the business of integrating all of these. At least not yet.

“Getir isn’t an acquirer, it’s getting one after another, it’s not our way of doing things,” Salur, who co-founded the company with Serkan Borancili and Tuncay Tutek, said in an interview. “But it’s a free market, and if there’s a good reason, a good reason, we might consider it. We won’t chase 10 different companies in this world, but it’s appropriate. If I get the chance, I’ll talk to people. “
https://techcrunch.com/2021/07/01/i...t-acquisition-to-expand-into-spain-and-italy/ Instant grocery startup Getir makes its first acquisition in Spain and Italy – TechCrunch

Instant grocery startup Getir makes its first acquisition in Spain and Italy – TechCrunch - Fuentitech

Getir, Turkey-based startup, $ 7.5 billion business With the introduction of a mobile app that allows consumers to buy groceries and deliver them in minutes, it has grown its business organically. Targeting the European (and soon the United States) urban markets, it is confusing a well-stocked...

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