Fast Delivery Initiative Bring Buys Competitor Gorillas in $1.2 Billion Deal

Fast Delivery Initiative Bring Buys Competitor Gorillas in $1.2 Billion Deal

Gorillas previously raised nearly $3 billion worth of funds
Investors have become more cautious about the profitability of the sector have become more cautious about the profitability of the sector

Istanbul-based fast-trading platform Getir has acquired rival Gorillas Technologies GmbH, citing the increasing consolidation of a once thriving industry.

The deal is worth $1.2 billion to Gorillas, according to sources familiar with the matter. Last year, Gorillas provided the company with nearly $3 billion worth of funding.