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Nazim Salur

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2021-09-16
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2021-09-16
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  1. “I want to answer that. I don't put a ceiling to myself. We'll see where it goes. It's going to be exciting, and that's what I enjoy about GitHub. We'll see.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “Hiring good people as fast as I would like. We don't grow just open up an office with five people, this and that. Our business is end-to-end and then, you know, once we go to a city, we hire a lot of people. And hire the right people. If you hire the wrong people, you don't have a good business. You can't have good food with bad ingredients. Good companies, they have to have good people. And of course, with people, you always have the chance of making mistakes. So if you do least amount of mistakes and if you see you're mistaken, correct it fast. So that's the thing.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “But we do, we're different. Okay, so that creates a lot of trust in us. So we are the guys who say something and do it, does it? I'm an older guy for the startup scene. I'm 59. This is quite rare. I came into this industry at age 50. It's like you're trying to learn how to play the violin at age 50, okay? And learn it and play it. So tech entrepreneurs, I mean, I haven't met anyone who came into this area after 50th. Usually it's much younger than that. And, you know, it worked. So that's what we're talking. And the experience he has, he's been around in this tech industry for so long. Some of the experiences he shares with me is very valuable because I don't need to go through the same experience and just leave it myself. It's nice to learn from others' experiences. And I also use an investor. I also consider them as a friend now.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “Okay, Mike is an interesting guy. Okay, he's a self made guy. He calls himself an outsider. So being an outsider actually in some ways is a good thing because you can see better the insider blindness sometimes, okay?”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “Is not, we're just in the middle of people's lives. So, like, we got to know what next five years, ten years in the world, what the trends are gonna look like. So I keep myself very up to date with world affairs and trends and technology and other things. And we want to grow to the whole world. So I want to know what challenges in Mexico are too. We're not in Mexico, but we may be. So I know, you know, they have an election and if people are happy with the new president or not. I follow that. I'm not in Mexico, but I'm interested in that. So reading good quality book, that I didn't have time last year. I may have read a few nice books like some novels to keep me company on a plane trip or stuff like that, which I don't want to mention.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Okay, I read a lot of quick stuff. I read at least 20 newspapers digitally every day, but the total 20 is less than 15 minutes. I look at the stuff and if something interesting I will read. Okay. But I'm aware of what's going on in the world. So this is from all around the world. Okay. So I'll open with the bookmarks folder all 20 at the same time and then just click click shut them and then get a view of what's happening. And also, you know, my people give me all the information on anything that's relating to our business. If there's some news on a Dutch newspaper about our industry, so it comes to me within the next hour. So I don't go to every Dutch newspaper, of course, and I don't speak Dutch. But so we need to follow what's out there. And we need to know the world trends, even how politics is evolving, the environment is changing, what are the new trends in the world.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “Is digital, dominate the grocery market. There'll be several players. So I make my calculations that there will be several players. And in the markets I'm in, I'm shooting for number one position. And we'll see in the next few years in the markets whether we're number one or not. Never for number three, a distant number one or a close number two, maybe in some markets in the future, shooting for number one always. That's the game I want to play. And I think there'll be at least three players in the more prominent markets. Smaller market, it can be one or two players. Still at least two. And in the world total, there'll be at least 10 successful players 10 years later because no two companies can do the whole world.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “Shopping, I think, will be done digitally in most countries. And it'll be within the same day. Most of it within under an hour. And I hope the bigger piece is the 10 minute delay. We'll see how that plays. All right. So in that aspect, just as you look at the grocery business in the world today, you know, supermarkets weren't there. There were small grocery stores under years ago. There was no supermarket. And then supermarkets came and then they became chains and they had hundreds of them and then they had thousands of them. There was consolidation. But still in no one market in the US, I know. And I know UK. I know Germany. No one brand dominates the whole market. There's always a few, at least a few. And that's in the best interest of the people because grocery is a necessity. It's not just nice to have things. Governments around the world will not let one player when most of this thing”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “First of all, don't discount us on the US market. GOPAF is a serious competitor, but they're not doing the 10 minutes. We have a faster model. So give us some time to start operations in the US and let us operate for at least six months and then be the jury then, okay? So let's see how that plays out. But they will be there most probably in the long run. And as I said before, you know, I have respect for these guys. They did a good job in US. And the others, everybody will be erased. You said, I don't think so. There, a few will stay. The ones who can learn quick and adjust can stay because in the grocery business, it's not going to be winner takes all. It won't be that way. Grocery is a necessity. And in the long run, now this is like 10 minutes seems like a nice to have thing. But 10 years later, whether it's 10 minutes, 30 minutes, same day, it will be more than 50% of grocery.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “This is a two edged sword, so to speak. I mean, it can be useful if it works well, and then it can be a distraction if it doesn't. Are you this white label company trying to manufacture everything, this and that? Or are you a tech company trying to give the best service and do the last mile delivery? You know, if you believe you can do both, you can be the jack of all trades. Be my guest. But we experimented in Turkey with a few private labels, but a few, not too many. So we know the challenges and the opportunities this model gives. But in the high growth era of this business, one shouldn't take his eye off the ball. And the ball is high growth, at least for the next few years. When growth normalizes, these things should come more into the picture then.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “Look, I believe my first priority is you as my consumer. So if you want other catch up than that brand, I should show that to you. So monetizing that is a good idea.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “And then while doing this fast growth, you got to be careful not to stitch yourself too thin so that the service goes bad and then you do lazy service and then that's not a good thing, okay? So you have to keep the good level of service while expanding this fast and doing both at the same time is difficult. But if it's easy, everybody else will do it. So difficult is the name of the game and we enjoy it.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “We start with three cities, those are going to be New York, Chicago, and Boston before the end of the year. We'll be operational in all three, and then we'll take it from there within the next year. Gradually we'll grow to other cities, and we'll also grow in these early cities. So we open a number of warehouses, and then we open more. For example, in the UK, we're over 50 warehouses now. We open with just five in London, and London is now something like 35, and then we open more in other cities. So we bought open more in the other cities and in London. And then we keep adding more cities in the UK expansion. It will be similar in the US. So if you look at US, there's at least 300 cities with a population of 100,000 or more. That's the first tier. We should be at least in 300 cities. ASAP in the US. I don't know how long it will take. I hope it takes shorter than I expect. It's a matter of time.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “Compare different cities and different neighborhoods. And at the end, depending on that, you pick and choose where to go first. But in the long run, let me tell you this, Harry. The long run, if there's pizza delivery in any small town, there'll be a service like Getir, whether Getir will be there or something similar, will be there. Next five to ten years, everywhere there's pizza delivery, there's going to be a 10-15 minute grocery service, period. It's just a matter of time because it works. And it's a great convenience.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “No, no, no. We have about 400 questions about the new market. When we look at a new market, there's this 400 question questionnaire we fill in about that market. Once we put the answers to that, it gives us a getter suitability index about that city we're going to operate. And no one city is superior in all aspects in that. So like let's say population is an important thing. So the more people, the better. But then population in Los Angeles, for example, is so widespread. Do I like the Los Angeles population or do I like New York population? I like New York population. All right. So like population alone says something, but how concentrated is this says another thing and then buying power and then demographics and you know who are your early comers? I mean are these college towns are these retiree neighborhoods are these this are these that okay so there's many many aspects to”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “Yes they are because the living parity indexes each country's basket let's say you do the same basket let's say you put 10 items a loaf of bread a liter of milk ten eggs and something like that in each country this is going to be a different price okay but what matters is this your per hour cost of the delivery versus the basket the ratio there so let's say if my labor costs in the uk is twice as much and my basket size is 2.2 times as much my labor although i pay twice is less in the uk than turkey it's the ratio that counts okay so as long as that ratio is the right ratio we compare it what's the denominator there okay price alone doesn't mean anything the cost there what's your basket everything according to the basket okay you have to calculate i mean you can compare but you get the wrong result”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “Early markets that were just operational for a few months, we know what's going to happen next year, two years down the road. Because, you know, we've seen this movie before.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “I'm not going to tell you the numbers for obvious reasons, but let me tell you this what's more important is that frequency increases in time and it does increase in time. Let's say it's three for a certain time frame, then it becomes 3.5, then it becomes 4, then it becomes 5, then it becomes 5.5. So the same customer is coming over and over more frequently. And another thing is the customer buying more from you. What's the basket size? $20, $20, or 30 or now 50. So the growth here is not only going to come from more customers, it's going to come from how frequent that customer is coming to you and how much more on each visit is he buying from you. In get your turkey in six years, we have scored very well in all these aspects. We saw them buying more from us, buying more frequently, and all the time these numbers are increasing. So there's still a lot of room for growth.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “Yes and no. Okay. Some consumers are loyal, some are. And that's fine. Just like with people, some people are loyal in their relationships. Some aren't, okay? They move. People are people. What are you going to do? You just accept the fact. And it's business. Okay. So like there's always some other company may give temporarily a better deal. You may go shop from that other company. But in all other things being equal, people have a preference. Most people do. Okay. So you probably, let's say you're shopping. Let's say there's three different places offline that you can shop your groceries from. If there isn't a specific reason to go to the other one, you'll probably go to the same one over and over.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “They're not all around the world. When you have operations, there are different Amazon all around the world. They're the biggest in the world, but there are similar companies in Europe, in Asia, and so forth. And it's going to be similar here. So there's going to be some regional champions here. Because look, I can't do 200 countries within the next two years. It's not humanly possible. So there's going to be some other companies doing some regions that we don't go. If they're going to learn from their mistakes fast enough, they're going to learn it and they're going to be successful companies within the next five years. But this is a long-term business. If the newcomers think they can win in three months, six months, boy, they're mistaken. This is not that game.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “No, because this amount of money spent on this industry is so little. It's just because the industry is new and these new startups are coming up all at the same time within the last six months pretty much. The noise this makes looks big, but there's a couple trillion dollars out there waiting to invest in tech sectors. The holiness is just got a few billion dollars compared to the amount of money that can be invested in tech. It's still very little R in the cigar. It's gonna get much more money in the next few years. You're gonna see that. But will it be on 20 or 30 different players or will it be on the remaining five or ten? We'll see that. I don't think in one big city market there'll be 10 players. There may be now. But in the long run, this is probably a two, three-player game. In each market. But then all around the world, you know, nobody can do the whole world immediately within a year or two. Look, Amazon, such a great company.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  22. “Small percentage market share, it's at its infancy in the grocery market share. So next few years, there's so much room for growth. It will be wise for players to go for growth rather than profitability. Of course, if they can afford this, I mean, saying this and doing this are two different things.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  23. “The thing is, if we don't need to grow fast, this business is a profitable business today. It's just that we spend more money on growth than we make margins on, okay? And it may be similar with Gopaf. I don't know what their financials are, but there's so much out there that needs to be done. It won't be wise to shoot for short-term profitability and grow less. Otherwise, you can make some money today, but you will see the competition owning the market in a few years. So it's like a little land grab is the name of the game, at least for the next few years, because still the percentage of people using digital means to do their grocery shopping is in the low double digits in some of the economies in Europe, in Asia, in the US, a small portion, a very small portion of that is the 10-minute delivery grocery. So this is a very...”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  24. “Batching on this. Our algorithms need to be much more efficient to hit those numbers. And luckily, we are hitting some very good numbers in the old markets we operate. Let's say old market is actually a market we're in after six months. When we open a warehouse in a new neighborhood, six months later, it's probably a mature warehouse. So after six months, the efficiencies come up really good.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  25. “Drops per hour is the main indicators of cost. Okay, let's say you're paying this person $20 or pounds an hour, let's say, or whatever. The cost is, let's say, $20, whatever the money is. And if he does four, your cost is $5. If he does two, your cost is $10. So it's as basic as that. So more drops in the same hour lowers the cost. It's same for everybody. All right. But that can't be the only KPI. Because in their business, they aim for 30 minutes. And on average, I think they hit 30 minutes. Maybe they do 20 on some, maybe they do 40 on some others. And they can bash orders. They can bash several orders in one trip so this guy can drop for orders within the same hour. And that is going to lower their cost. But both promise 10 minutes and heating three or four deliveries in the same hour is more difficult.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  26. “Repetitive, very few people enjoy going crocery shopping. So we take errand off of you as a model in GitHear, and we do it through these people. So they need to be treated well by their employers and by the consumers. I think we should respect this industry more”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  27. “Most drivers, most careers we call them, they're trying to make a living. Some of them are just doing this as a temporary job in between jobs or there's students trying to make a little extra. Listen, and some people are doing it for long term, okay? So this is not an easy job. I mean, you as a consumer, you sit at home and somebody delivers to you, okay? So that delivery guy, especially during the time of COVID, all delivery workers are heroes, I think. They did a great job and the whole society should have much more respect to the career workforce. And in normal times after COVID, you know, whoever makes us our life happier, these careers give us an extra happiness because otherwise you have to go do this errand yourself. Grocery shopping for urban people. For most urban people is no fun. It's an errand. It needs to be done and it's not fun.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  28. “In the career world, this is a luxury. The food delivery industry doesn't give this because they use gig economy and they don't really care where these guys use as bathrooms or what they do under the sun or under the rain. It's just the way they built their industry. We didn't build our industry that way. We take care of these people, okay? We want them to work with our company for the long term. And a simple thing of having a room to drink coffee and having a right to use a bathroom unfortunately in our industry is a luxury, which we of course give from day one. We didn't come up with this idea. We were giving this from day one in Turkey and anywhere we go. This is our standard.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  29. “First of all, there's always somebody doing something similar. I mean, if there's pizza delivery in the town, we're going to start operating. That pizza delivery guy can come work for us. And there is about everywhere we go. There's at least a few food delivery companies. So they do delivery all day. So we have better working conditions, first of all. Not necessarily better pay. Sometimes we have better pay. Sometimes we pay at par depending on the country. But definitely we give better working conditions. We respect the couriers a lot more than the industry does. First of all, when we do a warehouse, these small fulfillment centers, the first thing we do, we spare a room for the couriers to sit and have a cup of coffee or tea while they're not working. And the bathroom they're going to use. That's the first thing we build in a warehouse. This may seem a sensible thing in any office. You can drink coffee and go to the bathroom, right? There's always this.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  30. “Sell everything, and also I'll be in 10 minutes. That's not the case. You cannot have a truck and act as a sports guard. Sports cars are small with just two people. Trucks, they carry lots of, you know, a big load, but then they're slower. So it's the same here.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  31. “I don't decide that the consumer decides that. So, like, if you put too much stuff in the warehouse, that doesn't move. Then you shoot yourself on the foot. You can have $3,000 instead, but the second 1,500 is not going to move. It's going to be so slow moving. This is fast moving consumer goods. If it's slow moving, it's going to kill your business. You're going to pay high rent for just warehousing, stuff that doesn't move. Our business is not doing ten minutes and also giving you the option of thirty different kinds of shampoo. Okay? I can give you eight different kinds of shampoo and you should be fine with that because more than 80% of the people buy those first eight brands. And I have that variety. And if you want the 30 different kinds, then you shop from a slower digital place or you go to the big supermarket. So, you know, everybody does some business. You cannot play both. Okay. You cannot say I'm A to Z.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  32. “So this open secret is 1500 SQs we carry in the 10 minute model. So this number, we came up to this number after six years of experimentation with different numbers. We went up more than 1,500. We were over 2,000. Early we were just 300 and we went up to 6. Then we went to 1,000. And then we went up all the way to over 2,000. And so now we know the optimum number is around 1,500. So here's from me to all the competition. 1500 is the right number.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  33. “Market. Sometimes it's like Google, sometimes it's like Amazon. We'd like ours to be like Amazon. So we'd like to keep the distance, but I don't blame anyone coming in. It's fine.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  34. “The first thing is we have a good idea, that's why they're coming, okay? And the world is a big place. We're not covering the whole world. And some of these people see something like this taking off in one country and they say, okay, I can do this in my country too. And they do a check, nobody else is doing. So it's an empty market for them. And so they find some money and they say, okay, let's go for it. Why wouldn't they? I mean, if you think of it, more than 90% of the tech startups are clones of the origins, actually. And sometimes clones do a better job than the origins. If the original cannot grow fast enough and cannot evolve its own business, a latecomer can do a better job too. So it's not like always the first guys are the winners. I mean, like Google is not the first in search, but they were the better one. They came later, but now they own the market. But Amazon was early and they owned.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  35. “So, like, some of them are going to be formidable competitors going forward. Some of them may not be around in the coming years. It is the way it is. It's a little crowded now. But because it's a good idea, any good idea attracts crowds. So I'm fine with the crowds.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  36. “I'm not going to get into much detail here. Gopalf has been around the block for many years too, so I have respect for them. Their model is slightly different. They aim for about thirty minutes. We aim for ten minutes, but they've been there for many years. They're not new. So they're believers in fast grocery delivery too. I'm sure they built some systems in the mini warehouses. Of course, we have devised many algorithms on how to run them. I'd rather not into get too much detail because these things take many years to build actually. To build them, you first need to know what the problems are. The newcomers, they need to scale first and then realize what the problems are and then try to come up with the solutions. So my job is not to really help competition, but rather keep a little to myself at this point. But good luck to all the competition. I mean, competition is competition. They're not my enemies. They're my competitors.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  37. “Cost of warehouse, of course, is important, but not the most important. The most important is being close to your consumer. You know, how many people live nearby and how many minutes it's going to take you on a one-way trip. So in our business model, you will have these, we call them polygons, depending on that. And we have custom know-how there on deciding where to put these warehouses. So at the moment, we can't really make a mistake on location choice because our technology tells us exactly”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  38. “I ring your bell. So, this is a superb service, all right? And to do this, you have control over the whole process end-to-end. That's why having all these warehouses in the city, having full control of the inventory is crucial, otherwise you can't do 10 minutes.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  39. “Goes to 10, 15, 20 addresses and drops boxes and stuff like that. So that's not the model we're doing. What we're doing is almost now on demand faster than you model. So the faster than you is a simple sentence to say, but it's so hard to do. Because when you do it, it's a two-way trip. You have to get out of the house, go shop or some stuff, pay for it, bring it back. And if you need to drive, you need to park your car, stuff like that. Maybe it's 20 minutes, maybe 30 minutes, even if you have someplace close by. And if it's a bigger shopping trip, it's more than an hour that you're going to use. And with the 10 minute model, it's 10 minutes, but we only take one or two minutes of your time while you're we don't take 10 minutes of your time. In the other one, it takes half hour. You use full 30 minutes of your time to do some shopping. With me, you just give one or two minutes while ordering and then you just continue what you're doing about 10 minutes.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  40. “So, you may have other questions because the second question is really getting to the core of the business. So the beauty of the ten minutes lies in controlling everything. If you depend on a third party, 10 minutes doesn't happen. If you go pick up stuff from a supermarket, then, you know, it doesn't work. Then half are one hour game you're playing. Okay, it's still very good. It's fast, but 10 minutes is almost now. It's a different animal, all right? So to do 10 minutes, you have to have those products at hand in the time of ordering and somewhere close to the consumer. So you cannot have one or two major warehouses in a city and then do 10 minutes. That's not possible. Planned next day delivery. And I mean, we didn't come up with grocery delivery idea. Grocery deliveries have been going around last 20 years. You order today, you get it next day, there's a root plan, etc.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  41. “Harry, these questions are like very intense questions. So, like, I may answer some of it and I may choose not to answer some of those. Because at the moment, there's more than 20 different companies cloning us, and every day we see some more adding to it. And I'm sure some of them will listen to this podcast once it's aired. I don't want to give them an easy ride to the intricacies of our business. Of course, they will get a taste of how we're doing it if they already don't know, but I may not answer some of your questions in too detail. So excuse me on that. It's not that I don't know the answers. It's just I choose not to, okay? Sure.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  42. “Minutes everything else in 10. Yeah, that was the idea, and then I talked about this to a few friends who could both fund me and some of them joined me as co-founders. And here we are, six years later. This is one of the hot topics in the tech industry today. And we are the first company in the world to come up with the idea six years ago. I'm proud to say that now.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source

  43. “Six years ago, I was at the time the founder of BTAXI. It's taxi hailing up of Turkey, and I was looking at the screen of B-taxi. And at that moment, I saw we were able to give taxis on an average of three minutes. That was in the KPI. We were really pushing hard to catch. And right at that moment, I said, okay, we got this right. What next? And I said, okay, taxis one need. People have many other needs. Why don't we bring them every day necessities? And at the time, I thought couple hundred items. Now we carry 1,500. The thought came to me like couple hundred and put them in vans. And instead of ordering the taxi, I can show those couple hundred items. And as you get connected to the van, van can start moving to you. That was the idea. Okay. Of course, we changed it a little bit later when we started get here. And bring it in 10 minutes. The idea was taxis in three.”

    2021-09-16 · The Twenty Minute VC · 20VC: Getir Founder, Nazim Salur on The Future of Last Mile Convenience, Who Will Win? Lessons on Driver Acquisition and Efficiency, Zone Maturity and Time To Profitability and Scaling to 300 Cities in the US in 2022 · IDENTIFIED FROM THE TRANSCRIPT · source