The delivery driver of the Turkish delivery service “Getir” rides his bicycle.
Michael Cappell | Photo League | Getty Images
LONDON – On Tuesday, Turkish startup Getir agreed to acquire British rival Weezy, the latest sign of consolidation in the ultra-fast grocery delivery market.
Istanbul-based Getir aims to deliver necessities to people’s doorsteps in just 10 minutes, and the company says it is acquiring Weezy to further expand into the UK
The company currently operates in 15 towns including London, Manchester, Birmingham and Liverpool.
Weezy was founded two years ago by Kristof Van Beveren and Alec Dent. During the coronavirus pandemic, as more and more people turn to the Internet for essential shopping, Weezy has experienced amazing growth.
It now has more than 700 employees, including the company’s delivery drivers. Unlike gig economy companies that hire contractors with flexible work arrangements, Weezy treats its couriers as salaried workers.
After the merger with Getir, the newly merged company will have more than 4,000 employees worldwide.
Turancan Salur, Getir’s UK general manager, said in a statement Tuesday: “Partnering with Weezy, the company quickly established its position in the UK. This is an exciting opportunity and also a result of our people-oriented belief and business approach. add.”
Europe is the birthplace of the booming online grocery delivery industry, and there has been a wave of challengers trying to challenge mature supermarket chains and convenience stores.
Companies like Getir and others like Gorillas in Germany and Zapp in the UK have attracted customers with promises of fast delivery times and generous discounts.
Getir is a privately held company, after raising US$550 million from investors such as Silver Lake, Mubadala, Sequoia, and Tiger Global, it was finally valued at US$7.75 billion. To date, it has raised more than $1 billion in funding.
Prior to the news of the acquisition, Weezy had raised a total of more than $25 million from venture capital firms Heartcore Capital and Left Lane Capital.
It follows a series of other deals in the field, from U.S. grocery startups Gopuff acquires British companies Dija and Fancy To German food delivery giant Delivery Hero’s Buy a minority stake in Gorilla.
According to analysts, the fast grocery delivery market is Entering the consolidation phase, Because so many different players are increasingly difficult to distinguish their products.