Uber has agreed to acquire the delivery business of Turkey’s Getir, once one of the biggest success stories of the country’s startup ecosystem, the company announced on Monday

The deal will see Uber paying $335 million at the outset to purchase Getir’s food delivery business. The ride-hailing giant will also pay $100 million for a 15% stake in Getir’s grocery, retail and water delivery business, and said it would complete the acquisition of the division over the next few years.

Uber is buying the business from Getir’s biggest shareholder, the Emirati sovereign wealth fund Mubadala. The investment firm was reportedly seeking to sell its stake in the company last year.

The deal comes after a turbulent few years for Getir, which once enjoyed a valuation of $12 billion, that saw the startup scale down its operations massively. The company launched to great traction in 2015, and invested aggressively to expand its operations in the U.S. and Europe, both organically and via acquisitions, especially during the pandemic.

But after the pandemic lockdowns eased, broader consumer demand for food and grocery delivery also wavered, and Getir chose to cut its losses in 2024, shutting shop and laying off thousands of staff in the U.S., U.K, and Europe in order to focus on business back home.

Nearly a year ago, the company went through a struggle for control over a restructuring plan proposed by Mubadala. The plan was opposed by one of Getir’s co-founders, who eventually sued to fight the “illegal coup,” but a Dutch court rejected the founder’s appeals.

The company has raised a total of $2.40 billion so far, according to PitchBook. Documents filed by Getir in court last year show the company valued its group assets at $374 million.

“This transaction reflects the strength of the business and the progress it has made, particularly over the last year,” Waleed Al Mokarrab Al Muhairi, deputy group CEO at Mubadala, said in a statement.

Uber said it would combine the new unit’s services with Trendyol Go, a food and grocery delivery service in Turkey that the ride-hail giant bought for $700 million last May. Uber said Getir’s food delivery business alone recorded gross bookings of more than $1 billion in 2025, up 50% from a year earlier.

The deal follows a strong showing by Uber’s delivery business in the fourth quarter, reporting revenue of $4.89 billion, up 30% from a year earlier. The company said Europe, Middle-East and Asia proved the fastest-growing region for the business in 2026.