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Getir, Zapp Join Delivery Startups Cutting Staff, Consolidating

  • Istanbul-based startup valued at $11.7 billion in March
  • Rapid delivery industry is also consolidating at speed
A courier for the food delivery service Getir rides along a street in Barcelona, Spain.

A courier for the food delivery service Getir rides along a street in Barcelona, Spain.

Photographer: Angel Garcia/Bloomberg

Getir, one of the largest rapid delivery startups valued at $11.7 billion just two months ago, has become the latest high-profile startup to cut staff in a bid to rein in costs. 

The Istanbul-based startup, backed by Mubadala Investment Company and Sequoia Capital, raised $800 million in March. It is now planning cuts of about 14% of its headquarter staff, blaming “rising inflation and the deteriorating macroeconomic outlook,” according to a memo seen by Bloomberg.