The start-up scene had been waiting for this news for weeks, now it’s official: express delivery services Getir and Gorillas have signed the acquisition agreement.
The Berlin Unicorn Gorillas were created by your Turkish role model Getir purchased, such as the British business newspaper financial times first reported. The deal is said to value the joint venture at ten billion US dollars, the equivalent of around €9.5 billion.
Getir took over a bit later in a Linkedin Post confirms: “We are proud to announce the acquisition of the Berlin Gorilla delivery service.” Gorillas could not be reached for a statement at short notice and has yet to comment publicly on the matter.
There has been a lot of speculation about the deal in recent weeks, especially about the valuation. The Berlin startup Gorillas, founded in the spring of 2020, was last worth more than two billion euros. Getir investors valued the seven-year express delivery service at more than ten billion euros earlier this year. In general, the value of both unicorns together has decreased.
According to the Financial Times, Gorillas was now worth just over 1 billion euros ($1.2 billion) to Getir’s owners, slightly less than the amount venture capitalists have invested in the delivery service in the past two years. According to the media report, Getir is registered at 8.3 billion euros (8.8 billion dollars).
Consequently, all Gorilas shareholders receive Getir shares. Some also received a cash component of around $40 million, writes the Financial Times. These include Delivery Hero, Coatue, Tencent, and DST Global. It is not publicly known whether or how much Gorillas founder Kagan Sümer receives.
The economic magazine also assumes that there will be a wave of layoffs and that Sümer will also leave the company. There have been rumors in the past that the CEO is already pitching a new idea to investors.
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