Uber Technologies, Inc. saw its stock edge down 0.1% to $74.66 in midday trading following its announcement to acquire the Turkish food delivery operations of Getir. The transaction, valued at $335 million in cash alongside a $100 million investment for a minority stake in Getir's extended delivery portfolio, is designed to strengthen Uber's foothold in one of its faster-expanding international markets.
Strategic Move into High-Growth Market
The acquisition underscores Uber's strategy to build scale in regions outside its core, more mature markets where growth has moderated. Turkey represents a significant opportunity, with the Getir food delivery unit reporting over $1 billion in gross bookings for 2025 and year-on-year growth exceeding 50% on a constant-currency basis. Uber plans to integrate Getir's operations with its existing Trendyol Go service while maintaining separate consumer applications, aiming to increase selection for customers and provide more opportunities for couriers.
Deal Structure and Conditions
According to an SEC filing, the purchase is on a cash-and-debt-free basis and is structured in phases. The initial acquisition of the food delivery business is pending regulatory approval and is anticipated to close in the second half of 2026. The subsequent $100 million investment secures Uber a 15% stake in Getir's grocery, retail, and water delivery segments, with the full buyout of these operations contingent on meeting specific performance targets over time.
"Uber is committed to investing in Türkiye for the long term," stated CEO Dara Khosrowshahi. The company also highlighted other growth initiatives, including the renewal and expansion of its global payments partnership with Adyen and the rollout of new ride-booking kiosks for travelers without the app or local data plans.
Investor and Analyst Perspective
The move comes after a period of volatility for Uber, which recently reported quarterly profit below expectations and provided a first-quarter adjusted earnings forecast that fell short of Wall Street estimates. Some analysts are scrutinizing whether the Turkish expansion can increase order volume without leading to increased discounting pressure on margins. Following the news, Truist Securities maintained a buy rating but lowered its price target to $108 from $110, while RBC Capital kept an outperform rating with a $105 target.
Investors are now focused on the timeline for regulatory approval in Turkey and the anticipated closing of the deal's first phase in late 2026. The transaction's success also hinges on Getir's performance, as the company has faced challenges following a post-pandemic cooling in demand for rapid grocery delivery.
