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☆ Automation helps insulate Rohlik from a bruising 2023 for the grocery delivery sector
▼ + stars: | 2024-03-07 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +6 min

Read previewInvestors couldn't get enough of grocery delivery startups during the pandemic. Rohlik is on a pathway to profitability and has broken even in several key cities, CEO Tomas Cupr told Business Insider. Advertisement"The online grocery industry didn't have the best year in 2023, but we're still growing, which is super positive," Cupr told BI. At least 19 grocery delivery startups were operating across Europe at the height of the market. "The grocery delivery market remains a challenging area in Europe.

Persons: —, Tomas Cupr, Cupr, we've, Turkey's, Germany's, Nalin Patel, Jan Hammer Organizations: Service, Venture, Business, Ventures Locations: Europe, Prague, Czechia, Hungary, Munich, London, Paris, Budapest, Vienna, Istanbul, New York

☆ Layla uses short-form videos to help tourists plan their trips. It just raised $3 million with this 8-slide pitch deck.
▼ + stars: | 2023-11-30 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +1 min

Layla has raised $3 million from the cofounders of Booking.com and Skyscanner. The Berlin-based startup uses AI and short-form videos to help people find and organize holidays. Check out the 8-slide pitch deck used to close the round also backed by Paris Hilton. A startup that uses short-form video and AI to help users find and book holidays has raised a $3 million seed round. The startup's goal is to create a platform for users to find their next holiday destination, and plan their trip itinerary.

Persons: Layla, Paris Hilton, Jeremy Jauncey, Saad Saeed Organizations: Paris, Business Locations: Berlin

☆ Getir emerged as a tentative winner in Europe's pandemic-fueled rapid-delivery sector. But it still faces sizable threats.
▼ + stars: | 2023-09-18 | by ( Riddhi Kanetkar | Callum Burroughs | ) www.businessinsider.com time to read: +8 min

In March 2022, Nazım Salur invited thousands of Getir employees to a Zoom meeting to celebrate its newfound "decacorn" status. However, as soaring inflation and rising interest rates began to hobble the tech sector, investors became far less forgiving of businesses that had oriented themselves more toward growth than sustainability. In December 2021, The Guardian reported that Getir had offered customers a deal where they could get £15 off if they spent £16. About 21 rapid-delivery startups were operating across Europe in 2021, with Getir joined by the German outfits Gorillas and Flink, as well as the British startup Zapp. Getir tentatively emerged as the winner in the rapid-delivery sector when it bought its main competitor, Gorillas , in a heavily discounted deal for $1.2 billion in December.

Persons: Nazım Salur, Nazım, Getir, Blok, London's, Alexi Rosenfeld, they've, Adam Neumann, Michael Moritz Organizations: Tiger Global, Mubadala, Financial Times, Getir, TechCrunch, Guardian, DST Global, Gorillas, Abu Dhabi Growth Fund, Google, PayPal Locations: Spanish, Berlin, Turkey, Turkish, Germany, Netherlands, Istanbul, Turkey's, Europe, British, Abu Dhabi

☆ Turkish food delivery startup Getir to leave Spain, union says
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

MADRID, June 30 (Reuters) - Turkish delivery startup Getir will cease its business in Spain and lay off its entire workforce there of 1,560 after failing to raise enough capital in a recent funding round, Spain's biggest trade union CCOO said on Friday. "We condemn the disastrous business management of Getir, which has not known how to grow or have a market strategy in Spain," the union said in a statement. Spain's food delivery market is dominated by Delivery Hero (DHER.DE)-owned Glovo, the Netherlands' Just Eat Takeaway (TKWY.AS) and Uber Eats (UBER.N), all three of which gained market share after Britain's Deliveroo (ROO.L) exited the country in late 2021. Getir Spain did not immediately reply to a request for comment. However, in an April deal, Getir reportedly only raised about $500 million, cutting its valuation almost in half to $6.5 billion.

Persons: CCOO, Britain's Deliveroo, Getir, Le Monde, Flink, David Latona, Sudip Kar, Gupta, Louise Heavens Organizations: Getir, Financial Times, Thomson Locations: MADRID, Spain, Netherlands, Getir Spain, France, Getir France, Istanbul, Getir, Paris

☆ Grocery app Getir in talks to take over German rival Flink - FT
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +1 min

May 1 (Reuters) - Turkish delivery app Getir is in talks to take over German rival Flink in a key step toward consolidation in Europe's food delivery market, where companies are battling a slowdown after COVID-19, the Financial Times said on Monday. There is no guarantee of an agreement being reached, however, said the paper, which cited people familiar with the matter. Getir and Flink did not immediately respond to a Reuters request for comment. Flink is also in talks to raise funding of about $100 million from existing investors, for a valuation of more than $1 billion, the paper added. In a $1.2-billion deal last December, Getir bought German grocery company Gorillas, merging two of Europe's remaining companies in Europe offering groceries in minutes.

☆ The rapid grocery app bubble, inflated by the pandemic, is nearing its endgame
▼ + stars: | 2023-04-21 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +4 min

Grocery apps exploded during the pandemic and attained wild, multibillion-dollar valuations. European market leader Getir and smaller rival Flink are both set for big valuation haircuts. That's against a backdrop of grocery startups quitting markets, being acquired, delaying IPO, and going bankrupt. Grocery startups took massive hits as they chased usersWhat happened? Consolidation has come quickly, as smaller startups run into the realities of a low-margin model and find they can't keep up the requisite spend to chase consumers.

☆ DoorDash-backed Flink is in talks to raise around $100 million at a haircut to its earlier $2.85 billion valuation, sources say
▼ + stars: | 2023-04-20 | by ( Callum Burroughs | Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Flink is raising around $100 million at a haircut to an earlier valuation, sources said. The startup most recently raised funding in 2022 at an estimated $5 billion valuation. Any prospective funding is mooted to be at a down round valuation of around $1.5 billion, two sources said. Discussions around fresh funding remain at an early stage and figures are subject to change. These firms, often only months old, raised funding rounds in rapid succession, hitting billion-dollar and multibillion-dollar valuations fast.

☆ Grocery app Getir, once worth $11.8 billion, sees valuation almost halved with new funding, sources say
▼ + stars: | 2023-04-19 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Getir, one of the biggest remaining grocery apps, has raised $500 million, per sources. But its valuation has been almost halved to around $6.5 billion, from $11.8 billion. Other existing shareholders added another $150 million to $200 million to the round, two further sources said. The deal is a 45% markdown on the $11.8 billion price tag that was placed on Getir during its last fundraise in March 2022. Getir could have been valued even lower but the deal came with a high liquidation preference, the sources added.

☆ Analysis: European food delivery shapes up with Getir's Gorillas buy
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: +6 min

QUICK COMMERCEThe Gorillas acquisition makes Getir Europe's largest quick commerce company. LESS CAPITAL, FEWER COUPONSMore than a dozen smaller European quick commerce companies failed or were acquired since mid-2021. While profits may still be distant for the privately-held quick commerce companies, Europe's listed meal delivery companies have all set formal targets for earnings before interest, taxes, depreciation and amortisation (EBITDA). Shares in the European delivery companies are down around 60% from a year ago, but have traded sideways since June. So to "all the naysayers saying 'quick commerce is over - No.

☆ German startup Gorillas is bringing its 10-minute grocery delivery to the US — and entering a fierce battle to disrupt the $100 billion online-grocery industry
▼ + stars: | 2021-05-26 | by ( Nancy Luna | ) www.businessinsider.com time to read: +7 min

Gorillas, which competes in Europe, is bringing its 10-minute delivery service to the US. Sümer believes Gorillas can break the habit of stockpiling groceries by offering US consumers on-demand delivery of "emergency" and "replenishment" groceries. He named the company Gorillas because his concept is "bold" and "authentic" just like a strong gorilla. It plans to expand to Italy in May, and also expand its delivery service to more US cities and European countries this summer. In Europe, Gorillas competes with Berlin-based Flink, Turkish delivery service Getir, and 10-minute delivery service Dija.

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