🤝 Partnership Announcement
Getir, a leading rapid delivery service in Türkiye, has signed a confidentiality agreement with the Türkiye Wealth Fund (TVF). This move suggests a potential partnership in the near future. The details of the agreement have not been disclosed, but more information is expected soon.
🌍 Refocusing on Türkiye
Recently, Getir decided to cease all its international operations, pulling out of Europe and the U.S. The company revealed that only 7% of its revenue came from overseas markets, prompting it to concentrate on the Turkish market. This strategic shift aims to ensure long-term sustainable growth.
💼 Türkiye Wealth Fund's Role
The Türkiye Wealth Fund, established in August 2016 and brought under the Presidency in 2018, aims to diversify and deepen capital markets in Türkiye. TVF manages publicly owned assets, secures external resources, and participates in large-scale strategic investments. The partnership with Getir aligns with these objectives.
📈 Future Prospects
The motivation behind Getir’s agreement with TVF remains unclear, but it likely relates to the company's recent challenges. Shortly before exiting international markets, reports indicated Getir's plan to sell BiTaksi. Mubadala, a minority shareholder, was pushing for the sale, with AlixPartners advising on restructuring. These moves suggest a strategic realignment focusing on domestic market opportunities.
What do you think about Getir’s new partnership?
