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Turkey Startup Getir Seeking Funding at $800 Million Valuation
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January 8, 2021
Bell peppers for sale in a Tokyo supermarket. Tokyo, Japan. 8 August 2019On August 9, 2019, the Japanese government will release their monthly Gross Domestic Product (GDP) figures.
(Bloomberg) Getir is seeking fresh funding at a valuation of more than $800 million, as Turkey’s biggest online delivery service readies an expansion into the U.K., according to people familiar with the matter.
The firm, whose name means “bring” in Turkish, is in talks with investors to sell an unspecified minority stake for about $100 million, the people said, asking not to be identified because deliberations are confidential. The proceeds will be used for further investments, they said.
Turkey’s Getir to Raise Funding at $800 Million Valuation
Bloomberg 1/8/2021 © Bloomberg
(Bloomberg) Getir is close to signing a deal for fresh funding at a valuation of more than $800 million, as Turkey’s biggest online delivery service gets ready to expand into the U.K., according to people familiar with the matter.
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The firm, backed by venture-capitalist billionaire Michael Moritz, is in talks with investors to sell an unspecified minority stake for about $100 million, the people said, asking not to be identified because deliberations are confidential. The proceeds will be used for further investments, they said.
Like many other e-commerce ventures, Getir enjoyed faster-than-expected growth in 2020 after coronavirus-related lockdowns saw more people turn to online shopping. Getir declined to comment.