Turkey's Getir could hold another funding round to expand U.S. grocery delivery -CEO
ISTANBUL (Reuters) – Turkish fast grocery-delivery company Getir could hold another round of funding to finance its growth in the United States and would eventually like to expand to 300 cities in the country, Chief Executive Nazim Salur said.
The company attracted around $1 billion in three back-to-back funding rounds this year, putting its valuation at more than $7.5 billion.
The rapid delivery service began operating in several European countries this year and launched in Chicago on Thursday, its first U.S. location, and will expand to New York and Boston by year-end.
“There are 300 cities in the U.S. with a population of more than 100,000. We would like to be in all of these 300 cities in a certain timeframe,” Salur said at a news conference on Thursday.
He said the company could also make acquisitions to speed up its growth in the United States.
Getir hopes to conduct its initial public offering in the United States and not in Turkey “when the times comes,” Salur also said.
He added that the company was awaiting approval from Turkey’s Competition Board to purchase a stake in e-commerce platform N11, adding that it would buy shares from two partners in the company.
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