The value of one of the hottest start-ups of the pandemic has dropped to less than a quarter of what it was 18 months ago.
Getir, the Istanbul-based grocery delivery company, is in talks to raise $500 million in a new funding round led by the Abu Dhabi sovereign wealth fund, Mubadala Investment Company.
The latest funding round will value the company at $2.5 billion, after taking the new money into account, according to people familiar with the situation. It had been valued at as much as $11.8 billion when it raised funds early last year, far ahead of more established rivals such as Deliveroo and Just Eat.
Sir Michael Moritz is also backing the funding round, which is expected to be announced later this
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