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Fast-delivery startup Getir announced last week that it was buying FreshDirect, an online grocery delivery company. FreshDirect was last valued at $300 million in 2020 — down significantly from the $517 million valuation it had years ago. But Getir isn’t doing that well, either: It raised at an $11.7 billion valuation in March 2022, and by December 2022, when it acquired rival company Gorillas, the combined pair was valued at just $10 billion.