New York-based FreshDirect acquired by Turkish food delivery service

• It reports having 3,200 employees, and was acquired by Ahold in early 2021 for around $300 million.
• No financial terms were disclosed for the Getir acquisition.

What to watch: Instacart on Wednesday afternoon will issue its first quarterly earnings since becoming a public company. Shares closed yesterday at $28.47, versus its $30 per share IPO price.

The bottom line: Getir is getting both larger and smaller at the same time. On the plus side, it's buying up rivals like FreshDirect and Germany's Gorillas. On the minus, it's laid off employees and the $11.8 billion valuation it received in early 2022 has been cut by more than 70%.