Uber Technologies announced a deal to acquire Getir’s entire delivery portfolio in Turkey, which includes food, grocery, retail and water delivery services. The transaction will be paid in two parts: an upfront $335 million for Getir’s food‑delivery business and an additional $100 million for a 15 percent stake in its grocery, retail and water‑delivery operations. The remaining portion of the portfolio is expected to close in the second half of 2026, with the full acquisition completed over the next few years.
Getir’s food‑delivery segment generated more than $1 billion in gross bookings in 2025, a 50 percent year‑over‑year increase from 2024. The company’s overall revenue fell to $800 million in 2023, down from $1.1 billion the year before, reflecting a broader slowdown in the quick‑commerce market and intensified competition. Mubadala Investment Company, Getir’s controlling shareholder, has been seeking an exit after the firm’s valuation dropped from a peak of $11.8 billion in 2022. The sale allows Getir to refocus on its core markets while providing Uber with a proven local platform and an established customer base.
Uber’s strategy in Turkey is to consolidate its delivery services under a single, scalable platform. The company already owns Trendyol Go, which it purchased for $700 million in May 2025. By merging Getir’s technology and logistics network with Trendyol Go, Uber will create a dominant delivery ecosystem that can serve food, grocery, retail and water orders. The Turkish market is attractive because of its rapidly growing digital economy, high smartphone penetration and a consumer base that increasingly prefers on‑demand delivery. The acquisition also supports Uber’s broader goal of expanding in high‑growth regions such as Europe, the Middle East and Asia, where it reported its fastest growth in 2026.
Uber’s Q4 2025 earnings, released on February 4 2026, showed record revenue of $14.4 billion, up 20 percent year‑over‑year, and gross bookings of $54.1 billion, up 22 percent. Adjusted EBITDA reached $2.5 billion, a 35 percent increase. However, management’s guidance for Q1 2026 projected adjusted earnings per share of $0.65 to $0.72, below analysts’ consensus of $0.76. The miss was driven by higher-than‑expected cost inflation and a cautious outlook on ride‑hailing volumes, which weighed on profitability. Investors reacted by tightening expectations for Uber’s near‑term earnings, underscoring the importance of the new acquisition in offsetting margin pressure.
Regulatory approval from Turkish competition authorities is required for the transaction. While no specific hurdles have been identified, the approval process could take several months. The deal is expected to proceed once clearance is obtained, and it is anticipated to strengthen Uber’s market position and improve its variable contribution margins by leveraging economies of scale across multiple delivery verticals.
"With a thriving digital economy and a dynamic consumer base, Uber is committed to investing in Türkiye for the long term," said Dara Khosrowshahi, Uber’s CEO. He added that the integration of Getir’s platform will support continued growth of a vibrant ecosystem that delivers value to consumers, couriers and merchants. Getir’s CEO, Batuhan Gultakan, noted that the agreement marks a milestone for the company and will bring its ultrafast delivery expertise into Uber’s global ecosystem. Mubadala’s Deputy Group CEO, Waleed Al Mokarrab Al Muhairi, said that Türkiye remains an attractive market for Mubadala and that the company is evaluating long‑term investment opportunities in the country.
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