Getir

Getir to acquire Gorillas — and Gorillas investors may go bananas

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Ultrafast grocery delivery startups were once seen as part of the future of last-mile delivery, with...

https://www.freightwaves.com/news/getir-to-acquire-gorillas-and-gorillas-investors-may-go-bananas

Getir may bail out troubled delivery firm Gorillas

Gorillas delivery bike sits on the sidewalk

Embattled ultrafast delivery provider Gorillas, which has operations in New York City as well as several European markets, could be rescued by another firm facing its own pressures.

Reports indicate that Getir, an Istanbul, Turkey-based delivery service with global operations, could buy Gorillas in a cash and equity deal, according to Bloomberg. The Financial Times said the deal would provide Berlin, Germany-based Gorillas shareholders approximately $100 million in cash and 12% of the combined...

https://www.freightwaves.com/news/getir-may-bail-out-troubled-delivery-firm-gorillas

The Log Book: XPO driver reaches company safe-driving milestone

The Log Book is a weekly rundown of human-interest stories related to the transportation industry. This week: XPO driver reaches four million safe driving miles, Walmart opens a new facility in Illinois and donates to local charities and Getir donates over 80,000 pounds of food to nonprofits.

XPO driver reaches company safe-driving milestone

Freight transportation provider XPO Logistics recognized its...

https://www.freightwaves.com/news/the-log-book-xpo-driver-reaches-company-safe-driving-milestone

Ultrafast grocery firm Jokr pulling out of US, selling assets

Grocery delivery bag on porch

As I wrote back in May, instant grocery delivery has reached an inflection point. 

Throughout the pandemic, investors poured boatloads of cash into ultrafast delivery startups, some of which had valuations north of $10 billion. But the promise investors initially saw in quick commerce has gradually evaporated.

It’s been a tumultuous few months for ultrafast delivery startups, and New York’s Jokr is the latest casualty. The company this week revealed that it would scrap its small share of the U.S....

https://www.freightwaves.com/news/ultrafast-grocery-firm-jokr-pulling-out-of-us-selling-assets

Getir laying off thousands of workers, cutting expansion plans

Getir employee with bikes

Ultrafast delivery just can’t catch a break this week. On Wednesday, Turkish instant delivery startup Getir told employees in an internal memo that it would be slashing its global workforce by around 14%. The news comes on the heels of Tuesday’s announcement from rival startup Gorillas that it would lay off 500 employees, or about half of its office workforce.

Estimates place Getir’s workforce at around 32,000 strong, meaning the cuts would impact some 4,480 employees. In addition, Getir said...

https://www.freightwaves.com/news/getir-laying-off-thousands-of-workers-cutting-expansion-plans