Glovo

Glovo is a Spanish quick-commerce start-up founded in Barcelona, Spain, in 2015 by Oscar Pierre and Sacha Michaud.[1] It is an on-demand courier service that purchases, picks up, and delivers products ordered through its mobile app.[2] It offers multiple services with food delivery being the most popular.

Glovo
TypeDelivery service
IndustryOn demand
Founded2015
Founders
  • Oscar Pierre
  • Sacha Michaud
Headquarters
Barcelona
,
Spain
Areas served
Various cities
OwnerDelivery Hero (2022–present)
Number of employees
10,000+
Websiteglovoapp.com
Bike courier

In July 2022, Delivery Hero completed the acquisition of a majority stake in Glovo.[3][4]

History

Founded by Oscar Pierre (CEO) and co-founder Sacha Michaud,[5] Glovo's first meetings were in a McDonald's.[6] It eventually expanded into other countries, but, in January 2020, Glovo ended its operations in Turkey, Egypt, Puerto Rico and Uruguay.[7]

In October 2020, in an effort to achieve profitability, Glovo's remaining Latin American operations were purchased by Delivery Hero (DH), a German company, in a deal worth US$272 million, leaving Glovo with just its Southern and Eastern Europe operations.[8] In September 2022, Glovo was fined $78 million for labor breaches in Spain.[9]

In December 2021, DH signed a deal to become Glovo's majority shareholder, acquiring an additional 39.4% stake of the Spanish delivery company.[10] The acquisition was completed in July 2022 and since then it has owned a majority stake in Glovo (94%).[11][12][13]

Locations

As of January 2019, Glovo is operational in 25 countries:[14][15]

Services

Food delivery service is the company's most popular service. Other services available include pharmacy, courier and quiero (anything).[16]

The food business allows users to find and place orders with their favourite restaurants which is picked up when ready and delivered to the user's doorstep. While this model continues to be its flagship service, the company is reported experimenting with CloudKitchens and Grocery Darkstores.[17]

References
  1. Loritz, Mary (2018-12-14). "Execute quickly, understand local markets and adapt fast to different needs - Glovo CEO Oscar Pierre". EU-Startups. Retrieved 2020-05-28.
  2. "Glovo - Frequently Asked Questions". www.glovoapp.com. Retrieved 17 May 2019.
  3. "Delivery Hero officially closes the acquisition of Glovo". Social Bites. Retrieved 2022-12-12.
  4. "German app Delivery Hero hit by EU antitrust raids". Macau Business. Retrieved 2022-12-12.
  5. "Sacha Michaud - Co-founder, Glovo: "We've been able to rise to the top by being faster, more focused and more efficient"".
  6. Rennolds, Lucas Gª Alcalde, Nathan. "How Glovo co-founder Oscar Pierre helped build a startup worth $2.6 billion". Business Insider. Retrieved 2022-03-27.
  7. "Glovo exits the Middle East and drops two LatAm markets in latest food delivery crunch".
  8. "Delivery Hero picks up Glovo's LatAm ops for $272M in latest food delivery consolidation – TechCrunch".
  9. Thykjaer, Christina; Faus, Joan (2022-09-21). "Spain fines Delivery Hero's Glovo $78 mln for hiring breaches". Reuters. Retrieved 2022-09-22.
  10. "Why Delivery Hero is acquiring a majority stake in Spanish delivery company Glovo".
  11. "European competition watchdog raids Delivery Hero and Glovo". RetailDetail. Retrieved 2022-12-12.
  12. "Delivery Hero becomes majority shareholder of Glovo". YPOG. Retrieved 2022-12-12.
  13. "Brazil's Banco Safra buys Alfa financial conglomerate for $192 mln". elEconomista.es (in Spanish). Retrieved 2022-12-12.
  14. "Glovo Corporate Website". Glovo. Retrieved 2022-09-05.
  15. "Glovo: you order, we get it!".
  16. "Glovo Pushes On-Demand Delivery Services in Kenya". Kenyan Wallstreet. 2019-11-19. Retrieved 2020-05-28.
  17. Kemibaro, Moses (2019-02-27). "First Impressions: Glovo Kenya for On-Demand Delivery Services In Nairobi". Moses Kemibaro. Retrieved 2020-05-28.
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