Getir, the Turkish fast deliverystartup, has bought its German rival Gorillas.
This further reduces the number of companies in Europe promising to bring groceries to your door within minutes.
As Getirs foundertweeted, the acquisition valued Gorillas at $1.2 billion down from$3.1 billionin September 2021.
It’s free, every week, in your inbox.
This growth reflected a new business model for grocery delivery as lockdown restrictions pushed consumers to order goods online.
Now, as COVID restrictions have been lifted, the quick commerce environment has changed drastically.
Earlier this year, Gorillaslaid off300 employees and exited four markets Italy, Spain, Denmark, and Belgium.
Similarly, Getirlet go14% of its global workforce in May.
As per Lloyd, the study shows that consumers are prioritizing cost over convenience.
Story byIoanna Lykiardopoulou
Ioanna is a writer at TNW.
With a background in the humanities, she has a soft spot for social impact-enabling technologies.
Also tagged with
