Uber is making a new pickup in Turkey: On Feb. 9, the US ride-hailing giant agreed to acquire Getir’s delivery business in the country for $335 million from the UAE sovereign wealth fund Mubadala.

The deal marks a fresh bet for Uber on a populous growth market and comes at quite the discount — as recently as 2022, Getir was valued at nearly $12 billion. On the flip side, the transaction marks the end of Mubadala's troubled bet on Turkey’s technology sector, which comes as investment with the oil-rich Gulf state has faced setbacks of late. 

Details: The deal brings Getir’s various delivery services under Uber’s umbrella, according to a press release. Alongside paying $335 million for Getir’s food delivery business, Uber will invest $100 million to acquire a 15% stake in Getir’s grocery, retail and water delivery business. 

The deal, which is still subject to regulatory approval, will see Uber integrate Getir with Trendyol Go,........

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