Getir’s acquisition of Gorillas is a death knell for quick commerce

Getir, the Turkish fast delivery startup, has bought its German rival Gorillas. This further reduces the number of companies in Europe promising to bring groceries to your door within minutes.

This merger leaves only three such businesses active on the continent: Getir, Berlin-based Flink, and US-based Gopuff.

As Getir’s founder tweeted, the acquisition valued Gorillas at $1.2 billion — down from $3.1 billion in September 2021. Gorillas was among the most hyped-up startups in the instant grocery delivery sector, offering delivery times in less than ten minutes and numerous discounts.

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Founded in 2020, the company expanded rapidly covering multiple European cities and reaching $2.6 billion in revenue in 2021.

This growth reflected a new business model for grocery delivery as lockdown restrictions pushed consumers to order goods online.

To address the rising demand at the time, startups like Gorillas and Getir, built networks of warehouses in cities, increased their number of employees, and invested in promo codes and discounts to remain competitive.

Now, as COVID restrictions have been lifted, the quick commerce environment has changed drastically. Earlier this year, Gorillas laid off 300 employees and exited four markets — Italy, Spain, Denmark, and Belgium.

Gorillas Getir merge