Overview

• Getir, once valued at $12 billion, is closing its operations in the US, UK, and Europe, impacting at least 6,000 jobs.
• The company's decision follows significant financial struggles and a strategic shift to focus on Turkey, where it generates 93% of its revenue.
• Getir has raised new funding from Mubadala and G Squared to support its continued operations in Turkey.
• The closures are part of a broader trend of contraction in the instant delivery market, which has seen many companies reevaluate their global strategies.
• Despite the scale back, Getir retains its US arm FreshDirect, aiming to strengthen its position in the Turkish market.