Getir, a delivery startup, is set to leave Italy, Spain, and Portugal.

Getir, a delivery startup, is set to leave Italy, Spain, and Portugal.

Turkish Food Delivery Startup Getir Withdraws from Italy, Spain, and Portugal

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London, July 27 (Reuters) – Turkish food delivery startup Getir has announced its withdrawal from Italy, Spain, and Portugal in an effort to streamline its operations and focus on markets where there are stronger opportunities for profitability and sustainable growth. The company also revealed that it is currently finalizing a funding round, indicating its commitment to continue operating in the UK, the US, Germany, the Netherlands, and Turkey – regions that generate 96% of its revenues.

The Rise and Challenges of Ultra-Fast Grocery Delivery Startups

During the peak of the COVID-19 pandemic, ultra-fast grocery delivery startups such as Getir experienced a surge in demand. With people confined to their homes and hesitant to venture out for grocery shopping, these delivery services became a lifeline for consumers. However, the subsequent return to in-store shopping by consumers has impacted the growth of these startups.

Orderly Withdrawal in Pursuit of Sustainable Growth

Getir’s decision to withdraw from Italy, Spain, and Portugal is a strategic move to optimize its use of financial resources. By focusing on existing markets where operational profitability and sustainable growth opportunities are stronger, the company aims to ensure longevity and success.

The Impact on Workforce and Funding Round

A month ago, Spain’s largest trade union revealed that Getir was ceasing its operations in the country and laying off its entire workforce. Although Getir did not provide details about the exact number of layoffs, this move aligns with the company’s plan to withdraw from multiple markets.

Simultaneously, Getir is finalizing a funding round, highlighting its commitment to continued expansion and growth in its key markets. This funding round indicates the confidence investors have in the company’s business model and its potential for success.

Future Prospects and Market Focus

Getir’s decision to withdraw from Italy, Spain, and Portugal does not diminish its overall potential for success. By redirecting its financial resources towards its strongest markets, the company can concentrate on enhancing its operations and continuing to provide efficient grocery delivery services.

The remaining markets where Getir will continue to operate – the UK, the US, Germany, the Netherlands, and Turkey – encompass regions with promising growth potential. The company’s strong presence in these countries and its focus on satisfying customer needs have allowed it to generate the majority of its revenues. By concentrating on these key markets, Getir can solidify its position as a leading player in the ultra-fast grocery delivery sector.

In conclusion, Getir’s decision to withdraw from Italy, Spain, and Portugal demonstrates its commitment to pursuing sustainable growth and operational profitability. Despite challenges posed by consumers’ return to in-store shopping, the company remains determined to provide efficient grocery delivery services in markets where it can thrive. With continuing expansion plans and a successful funding round on the horizon, Getir continues to be an innovative force in the ultra-fast grocery delivery industry.