Getir, the startup based out of Turkey that has built a $7.5 billion business out a mobile app that lets consumers buy groceries and get them delivered in minutes, has grown its business up to now organically: targeting urban markets across Europe (and soon the U.S.) where it is disrupting the well-stocked cornershop with a service that needs even less effort and time from the average shopper. Now, it’s changing up that strategy with its first acquisition to break into three more countries.
The company is acquiring Blok, another “instant delivery” grocery service based out of Barcelona. Financial of the deal are not being disclosed but from what I understand, Blok (previously called Huvi Technologies) was bootstrapped, fairly new and small (launching only in February 2021), and was already shopping itself around.
Founded by Vishal Verma, Hunab Moreno and Varun Kapoor, Blok is active in Spain and Italy, where its biggest markets were Madrid, Barcelona and Milan. Portugal was on its roadmap pre-Getir, and it will also launch there soon. More than 120 employees will be joining Getir as part of the deal.
Getir has been around since 2015 and is profitable in Turkey …read more
Source: Tech Crunch