Getir pulls out of US, UK, Europe to focus on Turkey; 6,000+ jobs impacted [TechCrunch]
Uber Technologies, Inc. (UBER)
Last uber technologies, inc. earnings: 2/6 04:05 pm
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Source: TechCrunch
On Monday, the company — once valued close to $12 billion — announced it would shut down its operations the U.S., the U.K. and Europe to focus solely on its home market of Turkey. The move puts a bitter end to the company's very aggressive expansion strategy that saw it raise billions of dollars to grow organically and also snap up a number of equally aggressive, yet struggling, competitors to position itself as the market leader. The closures look like they will impact at least 6,000 jobs across the closing markets, but — according to the company — just 7% of its revenues. Alongside the closures, the company said it would get a new injection of investment as a lifeline to extend its runway. “This decision will allow Getir to focus its financial resources on Turkey,” said a statement from the company. Getir is not the only one in this space raising money to stay afloat while also retreating from global plans. Earlier this month, reports surfaced that Flink , an erstwhile rival o
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UBER
Earnings
- 5/8/24 - Miss
UBER
Sec Filings
- 5/15/24 - Form 4
- 5/14/24 - Form 8-K
- 5/13/24 - Form 144
- UBER's page on the SEC website