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UAE’s sovereign wealth fund Mubadala is reportedly considering a full exit from Turkish delivery company Getir, with U.S.-based DoorDash among those showing interest in its core delivery business.
The potential divestment would also cover Getir’s financial services and vehicle rental subsidiaries, sources related to the matter told Reuters.
The deliberations follow months of friction between Mubadala and Getir’s founders over the company’s restructuring. Mubadala, which manages about $330 billion in global assets, became one of Getir’s largest backers in 2021 and, following a $250 million investment, took control of several Turkish units in 2024 after regulatory approval.
The sources cited U.S.-based DoorDash as one of the possible buyers, though the talks involve several interested parties and no deal has yet been finalized.
Founded in 2013 and headquartered in San Francisco, DoorDash is the largest food delivery platform in the United States, holding more than half of the market. Listed on the New York Stock Exchange under the ticker DASH, the company has expanded beyond restaurant deliveries into groceries, convenience items, and alcohol, while also operating in Canada, Australia, Japan, and select European markets.
Most recently, the company entered the U.K. market through the acquisition of Deliveroo in May, in a deal valued at approximately £2.9 billion ($3.9 billion).
The latest landmark transaction in Türkiye’s food delivery sector was the handover of Trendyol Group’s delivery subsidiary, Trendyol GO, to U.S.-based Uber in May in a deal valued at $700 million.
Talks to sell Getir’s vehicle rental arm, Getir Arac, are reported to be at an advanced stage with Turkish car-sharing platform Tiktak. While neither side has confirmed the discussions, such a transaction would represent Mubadala’s first concrete step toward withdrawing from its Türkiye-based operations.
Mubadala also holds a stake in Getir Finans, the group’s consumer finance division, which could be included in a broader exit plan.
Founded in Istanbul in 2015, Getir pioneered ultra-fast grocery delivery and became one of Türkiye’s most recognized brands. The company grew rapidly during the COVID-19 pandemic, reaching a $12 billion valuation in 2022 after a funding round that included Mubadala, and expanded into major European cities as well as New York and Chicago.
As demand later slowed and costs rose, Getir scaled back by closing most overseas markets and refocusing on Türkiye.
Mubadala’s influence sparked clashes with the founders in 2024. After providing more than $300 million in loans, the fund proposed a restructuring that would secure greater control. While independent directors approved the plan, the founders opposed it, calling it a takeover attempt.
The dispute escalated to the Dutch courts, where Getir is incorporated. Earlier filings valued the company at about $374 million, and an appeals court ultimately ruled in Mubadala’s favor.
If current divestment talks succeed, Mubadala would exit less than four years after its initial investment, closing a partnership that once symbolized Türkiye’s tech rise but later succumbed to financial strain and internal conflict.
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