Getir quits Portugal
Getir, the pioneering high-speed shopping delivery service, has announced that it will quit operations in Portugal, Spain, and Italy.
The company, which will pull out in a phased and gradual manner, is finalising a round of financing and will continue to operate in the UK, US, Netherlands, Turkey and Germany which generate 96% of its revenue.
The withdrawal from the three Southern European countries will enable it to concentrate its financial resources in existing markets where opportunities for profitable operations and sustainable growth are stronger.
Getir is a Turkish grocery and restaurant food delivery platform founded by Serkan Borancili, Tuncay Tutek, Dogancan Dalyan, and Nazim Salur. Salur got the idea for the company after wondering if food could be delivered nearly as quickly as taxis could be hailed.
Getir also acts as a dark supermarket operator by making money by selling items at a 10% premium to traditional supermarkets and retailers. Margins are higher because the company only leases the warehouses where the dark stores are located. Some of its main competitors are Gorillas, Yemece and Flink.