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Getir’s takeover of Gorillas is a death knell for fast trade

Turkish fast delivery startup Getir has bought its German rival Gorillas. This further reduces the number of companies in Europe promising to deliver groceries to your door within minutes.

This merger leaves only three such companies operating on the continent: Getir, Berlin-based Flink and US-based Gopuff.

As founder of Getir tweetedthe acquisition valued Gorillas at $1.2 billion – down from $3.1 billion in September 2021. Gorillas was one of the most hyped startups in the instant grocery delivery industry, with delivery times under ten minutes and plenty of discounts.

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Founded in 2020, the company expanded rapidly, covering multiple European cities and reaching $2.6 billion in sales in 2021.

This growth reflected a new grocery delivery business model as lockdown restrictions push consumers to order goods online.

To meet the surging demand at the time, startups like Gorillas and Getir built networks of warehouses in cities, increased their workforce, and invested in promo codes and discounts to stay competitive.

With COVID restrictions lifted, the fast-paced trading environment has changed dramatically. Gorillas earlier this year laid off 300 employees and left four markets: Italy, Spain, Denmark and Belgium.

Gorillas Getir merge