In the merciless battle between the actors of quick commerce, waged with a lot of promotions and advertisements, a sorting out has already taken place in the space of only two years. The latest concentration phenomenon to date, the Turkish express delivery company Getir has taken over its German rival, Gorillas.
The price of the transaction is set at $1.2 billion, Serkan Borancili, founder of Getir, said on Twitter. However, as Reuters recalls, the value of Gorillas is below the value estimated during its previous round of financing at the end of 2021, at $2.1 billion at the time.
After launching in 2020, when Covid-19 boosted the online delivery sector, the Berlin-based company had a rather successful 2021. Gorillas has had a string of hard knocks in an ultra-competitive context, despite past deals with large distributors such as Casino in France. The company laid off 300 people last spring, sparking anger among employees and strike action at the start of the summer.
Getir, which claims to be “the pioneer of ultra-fast delivery”, was founded in 2015 in Turkey and operates in nine countries on three continents. Getir closed a $768 million seed round in the first quarter of 2022, valuing the company at €10 billion.
Of the quick trade players, there will only be one left
“Markets come and go, but consumers appreciate our service and convenience, which is here to stay. The daily grocery express delivery industry will continue to grow steadily for many years to come and Getir will maintain its leading position in the industry that it established 7 years ago,” said Nazim Salur, Founder of Getir, quoted in a press release.
This movement of concentration is not the first. In Europe, Flink seized the French competitor Cajoo in May, thus taking over the partnership forged by the French start-up with the giant Carrefour.
The quick trade market has tightened significantly in the space of two years. Kagan Sumer, CEO and co-founder of Gorillas, commented on this trend: “As of January 2020, there were 30 players in our industry. In January 2021, there were only 15 left. In January 2022, you can count 4”, predicting at the same time that “in a year there will only be one or two actors left”.