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Rapid-Delivery Startup Getir Buys Rival Gorillas in $1.2 Billion Deal

  • Gorillas previously raised funds at about $3 billion valuation
  • Investors became more cautious over industry’s profitability
A Gorillas Technologies GmbH grocery warehouse in London.
A Gorillas Technologies GmbH grocery warehouse in London.Photographer: Betty Laura Zapata/Bloomberg

Istanbul-based quick-commerce platform Getir bought its rival Gorillas Technologies GmbH, marking the increasing consolidation of a once-booming industry. 

The deal values Gorillas at $1.2 billion, according to people familiar with the matter. Last year, Gorillas raised funds valuing the company at about $3 billion but has been exploring its options after investors became more cautious over the industry’s path to profitability.