- What is Getir, and how does Getir work?
- How does Getir make money?
- Marking up the cost of goods sold
- Delivery fees
- Getir subsidiaries, acquisitions, and exits
- Getir profit and revenue
- What is the Getir business and revenue model?
- Getir funding, net worth, and valuation
How does Getir make money and how is it so cheap? Well, here is a full, in depth, breakdown of their two (2) revenue streams and the different products and services they offer, as well as the Getir business and revenue model, how much Getir makes per year, and how Getir works.
What is Getir, and how does Getir work?
Getir is an on-demand delivery service for grocery items and restaurant food deliveries.
Founded in 2015 by Nazım Salur, Getir has now been downloaded over 34 million times and has more than 3.5 million monthly active users using its service.
So, how does Getir work? To order from Getir, all you need to do is download their mobile app from the Apple App Store or Google Play store and create an account.
Once signed up, you can choose from over 1,500+ items and place your order. Getir will then prepare your order from one of their local warehouses and get it to you in as little as 10 minutes, according to Getir.
How does Getir make money?
According to Getir, Getir has more than 3.5 million monthly active users using its delivery service. So how does Getir make money off of all these users?
Below is a breakdown of how much money Getir makes and its revenue model. Including all revenue streams and how much they charge for their services.
Here are the 2 ways of how Getir makes money in 2022
Getir has a revenue model that makes money in two (2) ways; by marking up the cost of goods sold and through delivery fees.
#1. Marking up the cost of goods sold
Getir makes most of its money by marking up whatever goods a customer orders through them to deliver.
How does Getir make money by marking up the cost of goods sold? Getir makes money doing this by purchasing goods directly through wholesale suppliers and then adding a 10% markup to everything purchased on Getir.
For example, if a customer orders a gallon of milk that costs $4.40 in-store, Getir will add $0.44 (10% markup) to the total charge. Costing the customer $4.84 for the gallon of milk – while Getir pockets the $0.44.
#2. Delivery fees
In addition to markups, Getir also makes money by charging delivery fees.
On each delivery, Getir charges customers a flat fee that varies based on where they live and the total cost of the order. For example, in the U.S., it’s $1.95 per delivery plus additional fees on orders under $10. But in the U.K., it’s £1.99.
How much does Getir cost? (Getir delivery fees)
- $1.95 delivery fee (plus additional fees for orders under $10)
Note: Getir makes money from delivery fees and markups on each delivery.
Getir subsidiaries, acquisitions, and exits
To date, Getir has made a total of 3 acquisitions, 1 investment, and 1 lead investment.
Getir profit and revenue
In 2021, Getir reportedly made $1 billion in revenue.
Note: Because Getir is a privately held company, they are not required to make their annual reporting, such as Form 10-K’s, pubic.
What is the Getir business and revenue model?
Getir makes money through a few revenue models that they combine within their company, they are:
- Fee-for-service (FFS) business model
- Transaction based business model
- Business to business (B2B) business model
- B2B2C (partnerships) business model
- Mergers and acquisitions (M&A) business model
Getir funding, net worth, and valuation
Getir’s Crunchbase profile shows Getir has raised $1.8 billion over 7 rounds and has a valuation of nearly $12 billion as of March 2022.