Getir, the rapid grocery-delivery company that boomed during Covid lockdowns, said it was ending its operations in the United States and Europe, a major retreat by another pandemic darling.
At its height, the privately held Getir was valued at nearly $12 billion after expanding quickly, buying up competitors and operating in nine countries.
The company announced the decision in a short statement on Monday, adding that FreshDirect, its U.S. subsidiary, would continue operations.
“Getir generates only 7 percent of its revenues from the markets it is exiting,” the statement said.
“This decision will allow Getir to focus its financial resources on Turkey.”
Persons:
lockdowns, Getir, ”
Organizations:
U.S
Locations:
United States, Europe, Turkey