Uber to acquire delivery business of Turkey’s Getir

Uber has agreed to acquire the delivery business of Turkey’s Getir, the companies announced on Monday. Under the terms of the agreement, the transaction structure includes:

• An initial payment of $335 million at the outset to purchase Getir’s food delivery business.
• A payment of $100 million for a 15% stake in Getir’s grocery, retail, and water delivery business, with Uber stating it would complete the acquisition of the division over the next few years.

Uber is buying the business from Mubadala, the Emirati sovereign wealth fund, which is Getir’s biggest shareholder. Mubadala was reportedly seeking to sell its stake in the company last year.

The deal follows a “turbulent few years” for Getir, which saw the startup scale down its operations massively after once enjoying a valuation of $12 billion. Launched in 2015, Getir expanded its operations in the U.S. and Europe, raising a total of $2.40 billion, according to PitchBook. However, as demand wavered after pandemic lockdowns eased, Getir chose to cut its losses in 2024, shutting shop and laying off thousands of staff in the U.S., U.K., and Europe to focus on its business back home.

Nearly a year ago, the company went through a struggle for control over a restructuring plan proposed by Mubadala. The plan was opposed by one of Getir’s co-founders, who eventually sued to fight the “illegal coup,” but a Dutch court rejected the founder’s appeals. Documents filed by Getir in court last year show the company valued its group assets at $374 million.

Uber said it would combine the new unit’s services with Trendyol Go, a food and grocery delivery service in Turkey that Uber bought for $700 million last May. Uber said Getir’s food delivery business recorded gross bookings of more than $1 billion in 2025, up 50% from a year earlier.

The deal follows a strong showing by Uber’s delivery business in the fourth quarter, reporting revenue of $4.89 billion, up 30% from a year earlier. The company said Europe, the Middle East, and Asia proved the fastest-growing regions for the business in 2026.

Waleed Al Mokarrab Al Muhairi, deputy group CEO at Mubadala, said in a statement: “This transaction reflects the strength of the business and the progress it has made, particularly over the last year.”

Why it matters

This acquisition marks a strategic consolidation for Uber in the Turkish market, allowing it to fold Getir’s delivery assets into its existing Trendyol Go operations following the startup’s significant downsizing.