When you first see the word 'Getir', you think it is either a spelling mistake, a bad anagram, a Cockney summoning a recalcitrant dog, or a small start-up business with only one idea. Wrong, wrong, wrong.
Getir is a Turkish based fast-track delivery company founded in 2015 which is now worth more than Deliveroo, M&S and Morrisons. Its directors have no need to seek investment in their business as, when they park their cars outside company headquarters each morning, they are greeted by bleary-eyed representatives from banks and investment companies queued around the block, looking bedraggled after a night in a sleeping bag and wanting to jump on the latest opportunity.
Similar companies have equally compelling names, sporting the likes of Dija, Fancy and, we kid you not, Weezy, so however good is their delivery model, they still need help with names (especially as, and we've checked, domains such as 'Blob', 'Crikey' and 'PrettyPlease' are still available). Getting past this, all of the above had a great idea; offering the delivery of convenience store food and comestibles within 10 minutes of ordering. Getir, for example, has just raised £480 million in new funding, to increase its valuation to £6.8 billion. This makes Getir bigger than Delieroo, who you have heard of, and enabled them to raise funding of £800 million in the last four months.
We like their chief executive, Tim Steiner, and think he is someone we could work with. He said yesterday (Friday 4 June) "Suddenly a lot of clones are popping up everywhere. If we don't take care of business, others will."
You're right, Tim, when R3 nicked NTI's sleek, comprehensive Introduction to Insolvency 25 webcast model and launched it, we felt exactly the same. However, when we realised that they had 15 fewer webcasts with their version and charged three times the price for it we started to relax. Now we wish we had spent that worry time building a rapid delivery service. We hear they are all the rage.