Rapid delivery giant Getir is reportedly in advanced talks to take over rival Gorillas.
According to a report in Bloomberg, sources familiar with the matter said a proposed deal would be a mix of cash and equity.
They said no final decisions had been made and the talks may not ultimately result in a sale.
Gorillas’ chief executive officer has previously said the Berlin-based start-up will hunt for new financing as it narrows down on achieving profitability.
In February, Kagan Sumer said he intended to raise at least $700m to turn the 2020-founded company into a profitable one.
After start-ups experienced a boom amid Covid lockdowns a couple of years ago, there was a flurry of acquisitions across the rapid delivery sector.
Consolidation of the fledging sector has seen Getir takeover of UK startup Weezy, Gorillas acquire the French Frichti, and GoPuff purchase European-based firms Dija and Fancy.
In recent months, the sector has recounted a more turbulent time with firms slashing headcounts in order to focus on turning a profit.
Getir slashed staff numbers by 14 per cent this year while rivals GoPuff and Zapp reduced headcount by 10 per cent.
The “majority, if not all” of the GoPuff’s direct competitors “won’t be in existence in the next six-12 months, Dan Folkman, the firm’s senior vice president, told CityA.M. this month.
Gorillas declined to comment when contacted by CityA.M., which also contacted Getir for a response.
More to follow…
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