Getir, one of Turkey’s largest international initiatives, emerged today with sad news. The company, which received an investment last March with a valuation of $11.8 billion and earned the title ‘decacorn’, is in its latest investment round. lost this title.

For this transaction, the market value of Getir has been determined, which received an investment of USD 300 million from the United Arab Emirates-based investment company Mubadala early this week. $6.5 billion it happened. With this sharp drop in a year, Getir lost the title to decacorn.

Why did it lose value?

Getir gained a lot of value especially during the pandemic and quickly expanded its business. as it looks now idea for fast home delivery caught the attention of many investors. One of the greatest representatives of this field was Getir.

The value of Getir, the first decacorn in its industry, has risen with the end of the pandemic. life returns to normal like state of the world economy fell due. In particular, investments in venture capital have fallen sharply. Concerns about the future of money began in many countries of the world and central banks pressed the button to raise interest rates.

What is Decacorn?

“decacorn,” which we started hearing a lot with the investments that were at a very high level up until last year, Companies and startups with a market cap of more than $10 billion used for. Turkey’s first Decacorn was the electronic trading platform Trendyol.