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☆ Embattled grocery startup Getir exits the U.S. and Europe, will refocus on Turkey
▼ + stars: | 2024-04-29 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Companies such as Getir and Gorillas promise to deliver items to shoppers' doors in as little as 10 minutes. Grocery delivery startup Getir announced on Monday that it is quitting international markets including the U.K., Germany, the Netherlands and the U.S., marking a major setback for the once hyped online grocery industry. The Istanbul, Turkey-based firm said in a statement that it was withdrawing from its U.S. and European markets and would now refocus its financial resources on Turkey. The company said it raised a new investment round led by Abu Dhabi sovereign wealth fund Mubadala and venture capital firm G Squared "to bolster its competitive position in its core food and grocery delivery businesses in Turkey." Getir said it generates 7% of its revenues from the U.K., Germany, the Netherlands and the U.S."Getir expresses its sincere appreciation for the dedication and hard work of all its employees in the UK, Germany, the Netherlands, and the U.S.," the company said.

Persons: Abu, Getir Locations: Germany, Netherlands, U.S, Istanbul, Turkey, Abu Dhabi

☆ Opinion: Google’s AI blunder over images reveals a much bigger problem
▼ + stars: | 2024-04-09 | by ( Rizwan Virk | ) edition.cnn.com time to read: +8 min

When asked, Gemini politely refused in some instances to generate images of historically White people, such as the Vikings. In the image space, if you asked previous AI image generators for an image of a CEO or a doctor, they initially almost always showed images of White males. Google announced its Gemini AI chatbot was pausing the generation of people in images after concerns were raised that it was creating historically inaccurate images. What makes censorship and manipulation worse with AI is that today’s AI already has a well-known hallucination problem. It may be a portent of what’s to come with AI and Big Tech leading us into Orwellian territory.

Persons: Rizwan Virk, X, Dave, I’m, OpenAI’s, Gemini, Google’s, Pope, Sundar Pichai, we’ve, ”, didn’t, Michael M, George Orwell’s “, “ Organizations: Labs, MIT, Physics, Eastern, Arizona State University’s College of Global Futures, Center for Science, CNN, HAL, Google, Vikings, Fox News Digital, Gemini, Getty, Big Tech, Microsoft, Apple Locations: zenentrepreneur.com, White, German

Strange animal behaviors have been observed at the Fort Worth Zoo during totality, according to researchers stationed in Texas. One of the most bizarre animal observations reported during the 2017 total solar eclipse was of giraffes at other facilities gathering in a herd and beginning to gallop. The giraffes did not gallop this year at the Fort Worth Zoo, but they did huddle together and attempt to enter their nighttime enclosures. The most “dramatic reaction” at Fort Worth Zoo came from the primates. “Right at totality, all of the (gorillas) got up from all quarters of the exhibit and walked directly to where they're supposed to be let in (at night),” Hartstone-Rose told CNN.

Persons: Dr, Adam Hartstone, Rose, ” Hartstone Organizations: Fort Worth, Fort Worth Zoo, North Carolina State University, CNN Locations: Texas, Raleigh, Fort

☆ From the Horror to the Envy of Africa: Rwanda’s Ruler Holds Tight Grip
▼ + stars: | 2024-04-06 | by ( Declan Walsh | ) www.nytimes.com time to read: 1 min

Blood coursed through the streets of Rwanda’s capital, Kigali, in April 1994 as machete-wielding militiamen began a campaign of genocide that killed as many as 800,000 people, one of the great horrors of the late 20th century. Thirty years later, Kigali is the envy of Africa. Smooth streets curl past gleaming towers that hold banks, luxury hotels and tech startups. A 10,000-seat arena hosts Africa’s biggest basketball league and concerts by stars like Kendrick Lamar, the American rapper, who performed there in December. Tourists fly in to visit Rwanda’s famed gorillas.

Persons: Kendrick Lamar Organizations: Volkswagen, Tourists Locations: Rwanda’s, Kigali, Africa, American

☆ Starship’s monumental third flight ends unexpectedly
▼ + stars: | 2024-03-16 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

Instead, the company utilizes flight tests to gather crucial data and make improvements before the next vehicle rolls out for liftoff. Defying gravityThe SpaceX Starship spacecraft lifts off from the Starbase in Boca Chica, Texas, on Thursday. Chandan Khanna/AFP/Getty ImagesStarship’s eventful third test flight achieved multiple milestones before ending prematurely and likely breaking apart. The spacecraft was expected to splash down in the Indian Ocean at the end of its hourlong flight, but SpaceX lost Starship’s signal shortly after the vehicle reentered Earth’s atmosphere. However, the third flight of Starship flew longer and higher than either of the previous tests.

Persons: Chandan Khanna, axolotls, Stephen Dalton, ”, Randal Voss, Jiji Press, James Webb, “, Ashley Strickland, Katie Hunt Organizations: CNN, NASA, SpaceX, Getty, Starship, University of Kentucky College of Medicine, NASA’s, Golden Records, Clipper, Japan Monkey, Jiji, Gorillas, James Webb Space Telescope, CNN Space, Science Locations: South Texas, Texas, Boca Chica , Texas, Turkey, Xochimilco, Inuyama, United States, Columbia , South Carolina, Panama, —, Scarborough , England

☆ Animals act weirdly during an eclipse. Help NASA find out why
▼ + stars: | 2024-03-13 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +11 min

We’re hoping that we even get kids watching their dogs in their backyard and seeing if their dogs behave interestingly during the eclipse,” Hartstone-Rose said. The next total solar eclipse that will be visible across the contiguous United States won’t appear until August 2044. The space agency is expecting far larger numbers for the 2024 total solar eclipse — nearly 2,500 people have already signed up, she added. “(During a total solar eclipse) you have so many different ways the light is scattering, so there’s these beautiful colors of orange and purple and green. “It’s kind of a great human sensory experience to be in the middle of a total solar eclipse.”

Persons: ”, Adam Hartstone, Rose, Hartstone, “, that’s, Kelsey Perrett, United States won’t, Bryan Pijanowski, ’, Pijanowski, William M, Wheeler, John Griffioen, Griffioen, Perrett, ” Perrett, ” Pijanowski Organizations: CNN, American, North Carolina State University, Nashville Zoo, Solar, Fort Worth Zoo, NASA, Center, Purdue University, Buffalo Zoo, Zoo, Toledo Zoo, Indianapolis Zoo Locations: Columbia , South Carolina, United States, Raleigh, “, Grassmere, Mexico, Canada, Texas, North America, West Lafayette , Indiana, Fort, New York, Arkansas, Ohio

☆ Automation helps insulate Rohlik from a bruising 2023 for the grocery delivery sector
▼ + stars: | 2024-03-07 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +6 min

Read previewInvestors couldn't get enough of grocery delivery startups during the pandemic. Rohlik is on a pathway to profitability and has broken even in several key cities, CEO Tomas Cupr told Business Insider. Advertisement"The online grocery industry didn't have the best year in 2023, but we're still growing, which is super positive," Cupr told BI. At least 19 grocery delivery startups were operating across Europe at the height of the market. "The grocery delivery market remains a challenging area in Europe.

Persons: —, Tomas Cupr, Cupr, we've, Turkey's, Germany's, Nalin Patel, Jan Hammer Organizations: Service, Venture, Business, Ventures Locations: Europe, Prague, Czechia, Hungary, Munich, London, Paris, Budapest, Vienna, Istanbul, New York

☆ The Google Gemini conspiracy theory
▼ + stars: | 2024-02-28 | by ( Alistair Barr | ) www.businessinsider.com time to read: +4 min

Google had to pull parts of its fancy Gemini AI model after it spat out inaccurate images and text. To catch you up: Google had to pull part of its fancy new Gemini AI model after it spat out inaccurate pictures, including depicting Google cofounders Larry Page and Sergey Brin as Asian. One theory is that Googlers are too woke and their biases have infected what could be a powerful and useful AI model. AdvertisementIs this Google future? Probably not as profitable revenue as Google Search, but that's still a lot.

Persons: —, there's, Larry Page, Sergey Brin, it's, Mark Shmulik, Bernstein, Sundar Pichai, Pichai, that's Organizations: Google, Service

☆ While playing with my son, I learned about unconditional love. I'll never forget what he told me.
▼ + stars: | 2024-02-20 | by ( Chris Gethard | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. I climb the stairs, then skitter down the side of the hill back to the rocks. I'm curious what my neighbors might think if they saw us walking in this loop, pretending to sleep on rocks. He can get lost in the world of these rocks — and in the world of his brain — forever. "Yeah," he told me, "but you're old, and I'm young.

Persons: Chris Gethard, Dad, —, billy, it's, Cal, I've, I'd, Buddy, It's, He's, hasn't, doesn't, I'm Organizations: Service, Everand Locations: New York City, Scribd

☆ Great apes tease each other just like humans do, says new study
▼ + stars: | 2024-02-14 | by ( Jack Guy | ) edition.cnn.com time to read: +4 min

CNN —Researchers have found a new way in which great apes are similar to humans: they tease each other. Researchers found that all four species of great apes demonstrated “intentionally provocative behavior, frequently accompanied by characteristics of play,” according to the press release. The study details 18 different teasing behaviors, many of which were used to provoke a response or attract another ape’s attention. The authors also differentiate playful teasing, which is one-sided, from play, where both apes reciprocate. While primatologists had observed similar behaviors in the past, the study is the first to systematically study playful teasing, Laumer said.

Persons: Isabelle Laumer, Laumer, ’ ”, primatologists, ” Organizations: CNN —, BOS Foundation BPI, Max Planck, Animal, CNN, Royal Society, Biological Sciences Locations: Leipzig, Germany, San Diego

☆ Charles Darwin’s complete library has been reassembled for the first time
▼ + stars: | 2024-02-11 | by ( Ashley Strickland | ) edition.cnn.com time to read: +7 min

CNN —For the first time since his death in 1882, Charles Darwin’s impressive library has been virtually reassembled to reveal the multitude of books, pamphlets and journals cited and read by the influential naturalist. The catalog includes 9,300 links to copies of the library contents that are available for free online, inviting the public to peruse what Darwin read. After receiving letters from researchers and the public asking about specific titles from Darwin’s library, van Wyhe and his colleagues began their project to recreate it virtually in 2007. “He was a very highly educated person who learned ancient Greek and Latin in school as well as French,” van Wyhe said. “Instead of basing one’s understanding on the authors Darwin read that are mentioned in biographies, etc., anyone can now scroll through his whole library.

Persons: Charles Darwin’s, Darwin, “, ”, Dr, John van Wyhe, of Charles Darwin ”, Darwin’s, van Wyhe, ” van Wyhe, Charles Darwin, Walter William Ouless, John James Audubon, Paul Du Chaillu, John Stuart Mill, Auguste Comte, Elizabeth Gaskell’s “ Organizations: CNN, Darwin, National University of Singapore, of, University of Cambridge, Down, “, Cambridge University Library, Christ’s College Cambridge, HMS Locations: Darwin, Piecing, Downe , England, Down, Rischgitz, South America, Equatorial Africa, Africa, Swedish, Spanish

☆ Pfizer RSV vaccine lags GSK’s as head-to-head competition underway
▼ + stars: | 2023-10-30 | by ( Michael Erman | ) www.reuters.com time to read: +4 min

[1/3] View of Pfizer's new respiratory syncytial virus (RSV) vaccine Abrysvo during its manufacture in this undated handout picture. "800 POUND GORILLAS"CVS, which has more than 9,000 U.S. locations, declined to comment on why it was only carrying GSK's vaccine. It was not immediately clear how many RSV shots were being administered in pharmacies versus doctors' offices. GSK declined to discuss its RSV vaccine contracts, but said customer relationships gives it a competitive advantage. Two independent pharmacists said they are being charged a lower price by wholesalers for the GSK vaccine, which comes in boxes of 10.

Persons: Price, Ben Link, Link, Pfizer's, Dovato, Morningstar, Damien Conover, We’ve, Alison Hunt, Michelle Vargas, Michael Erman, Caroline Humer, Bill Berkrot Organizations: Pfizer, Handout, REUTERS, GSK, Reuters, CVS Health, CVS, Walgreens, Walmart, Aid, Thomson Locations: United States, British, U.S, South Carolina

☆ The best places — and best times — to take a safari
▼ + stars: | 2023-10-25 | by ( Harriet Akinyi | ) www.cnbc.com time to read: +8 min

KenyaFor more than 25 years, professional safari guide Geoff Mayes has taken tourists to the best parks in Africa. Amboseli National Park, a UNESCO World Heritage Site, is known for its massive elephant population and spectacular views of Mount Kilimanjaro. In those three, one can track mountain gorillas in Mgahinga National Park and Bwindi Impenetrable National Park. Another park to consider is the Kidepo Valley National Park, with its sweeping plains and valleys overshadowed by the brooding Mount Morungole. ZimbabweApart from the renowned Hwange National Park, I have also visited Matobo National Park, which has a wide diversity of fauna and plenty of white rhinos.

Persons: I've, revel, Harriet Akinyi, Geoff Mayes, Mara —, Masaai Mara, Mara, you'll, Barack Obama, It's, Luis Davilla, There's, Kruger, Addo, Nogaya, Jason Edwards, Dennis Kahungu, Christopher Kidd, Photodisc, Weaver, Clair, Nxai, Patrick J, Cecil Rhodes, Westend61 Organizations: Mara, Reserve, Kenya —, UNESCO, Heritage, Netflix, National Parks, Kruger, Park, Photodisc, Uganda Wildlife Authority, Queen Elizabeth, Lake, CNBC Travel, Getty, Nature, Kalahari Game Reserve, Kenya, Tourists Locations: Africa, Mugie Conservancy, Kenya, Tanzania, South Africa, Uganda, Mozambique, Botswana, Zambia, Zimbabwe, Malawi, Namibia, Rwanda, Nairobi, Mount Kilimanjaro, Solio Conservancy, Africa Kenya, Johannesburg, iMfolozi, Addo, Uganda Uganda, Kyambura, Lake Mburo, Mburo, Ihema, Inti St, Botswana Botswana, Okavango, Matobo

☆ Ambitious research yields new atlas of human brain cells
▼ + stars: | 2023-10-12 | by ( Will Dunham | ) www.reuters.com time to read: +5 min

The human brain is complex in terms of its utility - sensing, moving, reading, writing, speaking, thinking and more - and its cellular diversity. The research identified 3,313 cell types, roughly 10 times more than previously known, and the complete set of genes used by each cell type while also mapping their regional distribution in the brain. "The brain cell atlas as a whole provides the cellular substrate for everything that we can do as human beings," said neuroscientist Ed Lein of the Seattle-based Allen Institute for Brain Science, one of the researchers. The various cell types have distinct properties and are likely affected differently in disease, Lein said. "We are only at the very beginning of delineating the complexity of the human brain," said another of the researchers, Bing Ren, director of the University of California, San Diego Center for Epigenomics.

Persons: Denis Balibouse, Ed Lein, Lein, Trygve Bakken, Bing Ren, Will Dunham, Rosalba O'Brien Organizations: Belle Idee University, REUTERS, Rights, U.S, government's National Institutes of Health, Census Network, Allen Institute for Brain Science, Allen, University of California, San Diego Center for Epigenomics, Thomson Locations: Neuropsychiatry, Chene, Bourg, Geneva, Seattle

☆ Getir emerged as a tentative winner in Europe's pandemic-fueled rapid-delivery sector. But it still faces sizable threats.
▼ + stars: | 2023-09-18 | by ( Riddhi Kanetkar | Callum Burroughs | ) www.businessinsider.com time to read: +8 min

In March 2022, Nazım Salur invited thousands of Getir employees to a Zoom meeting to celebrate its newfound "decacorn" status. However, as soaring inflation and rising interest rates began to hobble the tech sector, investors became far less forgiving of businesses that had oriented themselves more toward growth than sustainability. In December 2021, The Guardian reported that Getir had offered customers a deal where they could get £15 off if they spent £16. About 21 rapid-delivery startups were operating across Europe in 2021, with Getir joined by the German outfits Gorillas and Flink, as well as the British startup Zapp. Getir tentatively emerged as the winner in the rapid-delivery sector when it bought its main competitor, Gorillas , in a heavily discounted deal for $1.2 billion in December.

Persons: Nazım Salur, Nazım, Getir, Blok, London's, Alexi Rosenfeld, they've, Adam Neumann, Michael Moritz Organizations: Tiger Global, Mubadala, Financial Times, Getir, TechCrunch, Guardian, DST Global, Gorillas, Abu Dhabi Growth Fund, Google, PayPal Locations: Spanish, Berlin, Turkey, Turkish, Germany, Netherlands, Istanbul, Turkey's, Europe, British, Abu Dhabi

☆ Baby gorilla almost died before a zookeeper held him close. Now he has a new adoptive mom
▼ + stars: | 2023-08-25 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +6 min

“It’s been a hell of a journey.”Kaius holds onto Chad Staples as they walk around the zoo. Eventually, Kisane put down the baby and zoo staff rushed in to grab him. Chad Staples/Mogo Wildlife ParkA fight to stay aliveKaius, then still just a day old, was diagnosed with sepsis pneumonia. Kaius moved from Staples’ house – which is inside the zoo – to the gorilla enclosure, in a pen neighboring G-Anne, his new adoptive mom. But resettling a baby gorilla comes with tremendous risk.

Persons: Australia CNN —, Chad Staples, ” Staples, Kaius, you’ve, ”, “, Staples, Anne, “ It’s, ” Kaius, Kipensi, Kisane, Kriba –, “ We’re, ” “ He’d, Hilary Whiteman, she’s, “ I’m, it’s, I’m, It’d Organizations: Australia CNN, CNN, Kaius, ” Zoo Locations: Brisbane, Australia, Staples, New South Wales

CNN —Zookeepers at the Columbus Zoo and Aquarium arrived to a pair of unexpected discoveries Thursday morning: a newborn baby gorilla and the news that its mother wasn’t a male gorilla. The gorilla, Sully, has lived at the facility with her mother since 2019 and was thought to be male until “the gorilla care team discovered her holding the unexpected baby gorilla early Thursday,” the zoo announced in a news release. There are an estimated 100,000 left in the wild across central Africa, says the Columbus Zoo. The surprise discovery builds on a history of gorilla conservation at the Columbus Zoo. The facility “was the first zoo in the world to welcome the birth of a baby gorilla” in 1956, according to the release.

Persons: CNN — Zookeepers, Sully, it’s, “ Organizations: CNN, Columbus Zoo, Aquarium, International Union for, Nature Locations: Columbus, Africa

☆ DoorDash quietly ends an experiment to deliver grocery orders within 15 minutes in NYC
▼ + stars: | 2023-07-06 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

In 2021, Gorillas, Buyk, and Gopuff opened dozens of rapid-delivery warehouses in Manhattan. Amid a collapse in the sector, DoorDash has ceased its ultrafast delivery operation in Chelsea. DoorDash's exit comes as the ultrafast grocery delivery space has collapsed over the past year after growing wildly in spring 2021. Many had spread throughout New York City, Chicago, Boston, and San Francisco. Neighborhoods in New York City also balked at the dark store operations, accusing them of ruining retail enclaves and taking away business from local bodegas.

Persons: Gopuff, DoorDash, —, York DashMart, Fuad Hannon, they're, Hannon, Robert Mollins, Gordon, Getir Organizations: Investors, Service, The Locations: Manhattan, Chelsea, New York City, Chicago, Boston, San Francisco, York

☆ Turkish food delivery startup Getir to leave Spain, union says
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

MADRID, June 30 (Reuters) - Turkish delivery startup Getir will cease its business in Spain and lay off its entire workforce there of 1,560 after failing to raise enough capital in a recent funding round, Spain's biggest trade union CCOO said on Friday. "We condemn the disastrous business management of Getir, which has not known how to grow or have a market strategy in Spain," the union said in a statement. Spain's food delivery market is dominated by Delivery Hero (DHER.DE)-owned Glovo, the Netherlands' Just Eat Takeaway (TKWY.AS) and Uber Eats (UBER.N), all three of which gained market share after Britain's Deliveroo (ROO.L) exited the country in late 2021. Getir Spain did not immediately reply to a request for comment. However, in an April deal, Getir reportedly only raised about $500 million, cutting its valuation almost in half to $6.5 billion.

Persons: CCOO, Britain's Deliveroo, Getir, Le Monde, Flink, David Latona, Sudip Kar, Gupta, Louise Heavens Organizations: Getir, Financial Times, Thomson Locations: MADRID, Spain, Netherlands, Getir Spain, France, Getir France, Istanbul, Getir, Paris

☆ Uganda School Attack Leaves at Least 37 Dead
▼ + stars: | 2023-06-17 | by ( Abdi Latif Dahir | ) www.nytimes.com time to read: +1 min

At least 37 people were killed and eight others wounded when militants with an extremist group attacked a secondary school in western Uganda, the authorities said on Saturday, in one of the deadliest terrorist attacks to hit the East African nation in years. The armed outfit, known as the Allied Democratic Forces, attacked a school in Mpondwe, a town close to the border with the Democratic Republic of Congo, on Friday night, a police spokesman, Fred Enanga, said on Twitter. During the attack, a dormitory was burned and food in a store was looted, he said. At least eight people were in critical condition and had been hospitalized, Mr. Enanga added. Three people were rescued from the scene of the attack, but six others were abducted, a military spokesman, Brig.

Persons: Fred Enanga, Enanga, Felix Kulayigye Organizations: Allied Democratic Forces, Democratic, Twitter Locations: Uganda, Mpondwe, Democratic Republic of Congo, Congo

☆ What makes us human? Primate genome study offers some clues
▼ + stars: | 2023-06-01 | by ( Will Dunham | ) www.reuters.com time to read: +5 min

While some genetic variations previously thought to be exclusive to people were found in other primate species, the researchers pinpointed others that were uniquely human involving brain function and development. They also used the primate genomes to train an artificial intelligence algorithm to predict disease-causing genetic mutations in humans. Human-related threats such as habitat destruction, climate change and hunting have left about 60% of primate species threatened with extinction and about 75% with declining populations. "The vast majority of primate species have significantly more genetic variation per individual than do humans," said genomicist and study co-author Jeffrey Rogers of the Baylor College of Medicine in Texas. The genome data can help identify the primate species in the most dire need of conservation efforts.

Persons: Thomas Mukoya, genomicist Lukas Kuderna, gibbons, Kuderna, Jeffrey Rogers, Will Dunham, Rosalba O'Brien Organizations: REUTERS, WASHINGTON, Barcelona Biomedical Research Park's Institute, Evolutionary, Illumina Inc, Baylor College of Medicine, Thomson Locations: Kinigi, Rwanda, Barcelona, Spain, Americas, Africa, Madagascar, Asia, Texas, China, Laos, Vietnam

☆ Google’s Photo App Still Can’t Find Gorillas. And Neither Can Apple’s.
▼ + stars: | 2023-05-22 | by ( Nico Grant | Kashmir Hill | ) www.nytimes.com time to read: +1 min

Google’s and Apple’s tools were clearly the most sophisticated when it came to image analysis. And Apple, with technology that performed similarly to Google’s in our test, appeared to disable the ability to look for monkeys and apes as well. Mr. Alciné was dismayed to learn that Google has still not fully solved the problem and said society puts too much trust in technology. Computer vision products are now used for tasks as mundane as sending an alert when there is a package on the doorstep, and as weighty as navigating cars and finding perpetrators in law enforcement investigations. As a result, the technology was not familiar enough with darker-skinned people and confused them for gorillas.

☆ Grocery app Getir in talks to take over German rival Flink - FT
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +1 min

May 1 (Reuters) - Turkish delivery app Getir is in talks to take over German rival Flink in a key step toward consolidation in Europe's food delivery market, where companies are battling a slowdown after COVID-19, the Financial Times said on Monday. There is no guarantee of an agreement being reached, however, said the paper, which cited people familiar with the matter. Getir and Flink did not immediately respond to a Reuters request for comment. Flink is also in talks to raise funding of about $100 million from existing investors, for a valuation of more than $1 billion, the paper added. In a $1.2-billion deal last December, Getir bought German grocery company Gorillas, merging two of Europe's remaining companies in Europe offering groceries in minutes.

☆ The rapid grocery app bubble, inflated by the pandemic, is nearing its endgame
▼ + stars: | 2023-04-21 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +4 min

Grocery apps exploded during the pandemic and attained wild, multibillion-dollar valuations. European market leader Getir and smaller rival Flink are both set for big valuation haircuts. That's against a backdrop of grocery startups quitting markets, being acquired, delaying IPO, and going bankrupt. Grocery startups took massive hits as they chased usersWhat happened? Consolidation has come quickly, as smaller startups run into the realities of a low-margin model and find they can't keep up the requisite spend to chase consumers.

☆ Grocery app Getir, once worth $11.8 billion, sees valuation almost halved with new funding, sources say
▼ + stars: | 2023-04-19 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Getir, one of the biggest remaining grocery apps, has raised $500 million, per sources. But its valuation has been almost halved to around $6.5 billion, from $11.8 billion. Other existing shareholders added another $150 million to $200 million to the round, two further sources said. The deal is a 45% markdown on the $11.8 billion price tag that was placed on Getir during its last fundraise in March 2022. Getir could have been valued even lower but the deal came with a high liquidation preference, the sources added.

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