Glovo

Glovo - Spanish startup Fast Commerce, founded To Barcelona in 2015. This is an on-demand courier service that buys, picks up and delivers goods ordered through. mobile application The company was founded by Oscar Pierre and Sasha Michaud.

History

2021

Delivery Hero owns 83.4% of Glovo

At the end of December 2021, it was announced that the German food delivery service Delivery Hero increased its share of Glovo by another 39.4% of the shares. As a result of this transaction, Delivery Hero's share in the Spanish company reached 83.4%.

Under the terms of the agreement, Glovo will continue its activities under the existing brand on its platform, and the team of managers will be headed by two founders who will remain investors in the company. Delivery Hero became the majority shareholder of the Spanish company, and also agreed to issue its own shares in favor of sellers of Glovo shares.

Glovo food delivery service operating in Ukraine sold to competitor

The Delivery Hero team admired and supported Glovo for many years. They were industry leaders, offering multivertical services from the very beginning. Their product orientation and rapid achievement of their tasks provided them with a leading position in 16 of 25 markets, despite the fact that they entered the market several years later than their counterparts. We will continue to invest in the Glovo team and product and see many opportunities to further improve their activities with the help of our resources and experience, "said Niklas Ostberg, co-founder and CEO of Delivery Hero.

The deal is expected to complement Delivery Hero and Glovo's delivery expertise and geographic presence, and both sides intend to further improve efficiency and accelerate product development with their technology. As part of this transaction, JP Morgan acted as financial advisor, and Cuatrecasas as legal advisor to Delivery Hero, and Uria Menendez acted as legal adviser to Glovo.^[1]

Purchase of Ukrainian food delivery service

At the end of November 2021, it became known about the sale of the Ukrainian food delivery service Zakaz to the Spanish competitor Glovo. The company does not disclose the financial terms of the transaction. More details here.

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