Zakaz (food delivery service)

History

2021: Glovo bought Zakaz

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.

According to the publication Ain.ua, we are talking about an amount in the range from $60 million to $80 million. But, according to one of the interlocutors, the size of the transaction may be less - from about $50 million to $70 million.

The publication says that for Glovo, the purchase of Zakaz is a chance to strengthen and quickly scale its business in the Ukrainian market. The company develops delivery in the country, and also began to open darkstores.

Glovo acquired Zakaz

Glovo takes a leading position in delivery from restaurants, while Zakaz, according to its own service data, is a leader in the supermarket delivery market. The agreement will help Glovo accumulate all the strengths within the same brand, the portal notes.

According to Ain.ua interlocutors, Zakaz needed investments for business development. The main shareholder of the CIG fund indicates that it has invested almost $15 million in the company over the past few years. This is just related to the constant pre-financing of the project. At the same time, according to the publication TechCrunch, the total investment in Zakaz by the end of November 2021 is significantly less - about $9 million. Having left the Zakaz project, CIG will be able to count on tangible profit and spend it on new startups.

It is noted that part of the payments CIG will receive not with cash, but with Glovo shares. They are rapidly rising in price and in a few years the fund will be able to earn excellent money by selling them.

In April 2021, Glovo raised $528 million. The total amount of attracted investments is $1.2 billion. Earlier in 2021, the company bought several start-ups in the delivery sector in Slovenia, Romania, Bulgaria, Serbia and other countries of Central and Eastern Europe.^[1]

Notes