Uber Expands in Türkiye with Getir Acquisition and Strategic Investment

Uber Technologies, Inc. is making a bold move into Türkiye's booming delivery market. The company announced a two-part strategy: acquiring Getir's food delivery operations outright and making a strategic investment in Getir's other delivery services, with an option for full ownership later.

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1. The Deal: What Uber Acquires

Uber will acquire Getir's entire food delivery business in Türkiye for $335 million in cash. This transaction will integrate Getir's established food delivery operations, customer base, and delivery network into Uber Eats.

Additionally, Uber will make a $100 million strategic investment to acquire a 15% stake in Getir's remaining delivery services in Türkiye, which include grocery, retail, and water delivery. This investment includes an option to fully acquire the remaining 85% of these businesses in the next few years, contingent upon Getir meeting specific operating and financial performance targets. The future acquisition price for these segments remains undisclosed and will depend on Getir's future performance.

Uber's total upfront cash outlay for this deal is $435 million.

2. Key Dates & Timeline

Uber signed the definitive agreement for this transaction on Monday, February 8th, 2026. The company officially announced the news and filed the necessary reports on Tuesday, February 9th, 2026, at market open.

The acquisition of Getir's food delivery business should close in the second half of 2026, pending regulatory approvals. The potential full acquisition of Getir's grocery, retail, and water delivery businesses in Türkiye could take several years, contingent on Getir meeting performance targets.

3. Strategic Rationale: Why Türkiye, Why Getir?

This strategic move advances Uber's global goal of achieving market leadership in key international regions and expanding its multi-category delivery offerings.

• Market Opportunity: Türkiye offers a significant and attractive market for delivery services, characterized by a large, young population, high mobile penetration, and a rapidly expanding e-commerce sector.
• Instant Market Leadership: Getir's food delivery business in Türkiye is already a dominant player, reporting over $1 billion in total order value (TGV) in 2025 and demonstrating robust growth exceeding 50% year-over-year. This acquisition instantly positions Uber Eats as a major, if not leading, food delivery platform in the country, avoiding the need to build market share organically.
• Multi-Category Expansion: The investment in Getir's grocery, retail, and water delivery services underscores Uber's ambition to offer a comprehensive suite of delivery options, leveraging Getir's existing operational expertise and supplier relationships in these categories.
• Synergies: Uber aims to integrate Getir's established network, local operational knowledge, and customer base, creating efficiencies and expanding its reach across Türkiye.

4. Financial Impact & Funding

Uber will fund the $435 million upfront cash outlay from its existing cash reserves. While a significant expenditure, Uber's strong balance sheet should absorb it without needing external financing.

• Revenue Potential: Integrating Getir's food delivery business, with its reported $1 billion TGV in 2025, should significantly boost Uber's gross bookings and revenue in the EMEA region.
• Profitability: In the short term, investors should expect potential integration costs and operational adjustments that could impact Uber's near-term profitability metrics (e.g., EPS, EBITDA). However, Uber expects this strategic expansion to become accretive to earnings long-term, driving sustainable growth and improved margins as synergies are realized and market share solidifies. Monitoring the acquired assets' profitability will be crucial.

5. Key Risks & Challenges

While strategically compelling, this acquisition comes with several risks and challenges:

• Regulatory Approval: The acquisition of Getir's food delivery business requires approval from Turkish antitrust and competition authorities. Risks include delays, conditions being imposed, or, in an extreme scenario, non-approval.
• Integration Risks: Merging two large operational entities is complex. Challenges include integrating technology platforms, harmonizing logistics and supply chains, managing cultural differences, retaining key personnel (both employees and delivery partners), and successfully migrating customers to the Uber Eats brand without significant churn.
• Competitive Response: Existing competitors in Türkiye's delivery market may intensify their efforts, potentially leading to price wars or increased marketing spend.
• Performance Conditions for Future Acquisition: The full acquisition of Getir's other delivery businesses is contingent on specific performance targets. There is a risk that these targets may not be met, preventing Uber from fully realizing its multi-category ambitions in Türkiye.
• Currency Fluctuations: As an international acquisition, Uber will be exposed to currency exchange rate fluctuations between the US Dollar and the Turkish Lira, which could impact reported earnings.

6. Stakeholder Impact

• Customers in Türkiye: Will likely see Getir's food delivery services transition to the Uber Eats platform, potentially gaining access to a wider range of options (food, groceries, water) through a single app. Pricing, service availability, or loyalty programs may change during integration.
• Delivery Partners: Uber will integrate Getir's delivery partners in Türkiye into its network. This could change pay structures, order allocation, and operational guidelines, but also potentially increase earning opportunities on a larger platform.
• Competitors: Other delivery services in Türkiye will face a significantly larger and more dominant competitor, potentially forcing them to innovate, consolidate, or adjust their market strategies.
• Uber Employees: Teams focused on international expansion, technology integration, and logistics will experience increased workload and new responsibilities.
• Investors: This deal signals aggressive growth and market leadership ambition but also involves substantial investment and execution risks, which will influence Uber's stock performance.

7. Investor Takeaways

• Strategic Growth Driver: This acquisition is a bold move to secure market leadership in a high-growth international market, aligning with Uber's long-term vision for multi-category delivery dominance.
• Significant Financial Commitment: The $435 million cash outlay is substantial. Investors should monitor Uber's cash flow, balance sheet, and the deal's short-to-medium-term impact on profitability.
• Execution is Key: The success of this deal hinges on Uber's ability to navigate regulatory approvals and execute a seamless integration of Getir's operations, retaining customers and delivery partners.
• Long-Term Horizon: The full benefits, especially from the multi-category expansion, will likely materialize over several years. This is a long-term strategic play rather than an immediate earnings booster.
• Monitor Critical Metrics: Closely monitor Uber's updates on regulatory progress, integration milestones, market share gains in Türkiye, and the acquired assets' financial performance. Also, watch for disclosures on performance targets for the future acquisition of Getir's other businesses.