FW: Getir to acquire Gorillas — and Gorillas investors may go bananas

FREIGHTWAVES reports:

Ultrafast grocery delivery startups were once seen as part of the future of last-mile delivery, with several earning valuations over $1 billion just months after launching. 

Instead, though, the space has been marred by layoffs, cash burns and total shutdowns as rapid delivery firms struggle to work out the unit economics of 15-minute delivery.

But could a merger between two of the young industry’s leaders improve its prospects?

That’s the hope for Istanbul-based Getir and Berlin-based Gorillas, which according to a report this week from Sifted are set to announce a merger in the coming days.

Reports of Getir acquiring Gorillas first surfaced in October, with sources telling the Financial Times that Gorillas shareholders would receive around $100 million in cash and 12% equity in the combined entity if a deal happens.

The Sifted report, though, paints a less favorable picture for Gorillas investors…

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