The deal will combine cash and equity.
Getir, a new food delivery service located in Istanbul, is in preliminary discussions to buy rival Gorillas Technologies GmbH.
There hasn’t been a decision made yet, but the purchase will be a mix of cash and equity.
purchase to scale Getir in the UK and German markets.
Getir, a rapid delivery startup founded in 2015, raised approximately $800 million in March 2022 at a valuation of $11.8 billion.
Getir will be able to enter important European markets like the UK and Germany thanks to the combination.
In the past, Gorillas has discussed the possibility of a merger or sale with several significant rivals as investors started to lose faith in the industry’s propensity for losing money. The business most recently raised $3 billion in the capital.