This Week in Food Delivery & Quick Commerce (10/02/24)
Hi all,
The new edition of the newsletter is out!
Highlights:
Delivery Hero says it delivered on 2023 targets
Uber Posts First Annual Profit Since Its IPO
Uber lays off hundreds as Drizly dissolves
Swiggy’s revenue up 45% YoY
Zomato Q3 revenue up 69% YoY
Blinkit revenue doubles YoY in Q3
Starship Raises $90М
Grab, GoTo are said to revive talks for merger
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💬 Quote of the Week
“Under the final deal, EU countries must introduce a mechanism in their national law that presumes gig workers are employed under certain conditions. Member countries can decide for themselves, though, what those conditions are.
The Commission's initial proposal for EU-wide criteria to trigger the presumption of employment, which dates back to 2021, didn't make the cut. However, in line with the original Commission proposal, it's still up to digital labor platforms to rebut a presumption of employment.
This deviates from the current practice, where gig workers often have to take issues around their job status to the courts. This has led to endless litigation and legal uncertainty — although platforms argue this won't go away under the new rules.
In a major plot twist, the Belgian Council presidency had floated a text earlier this week that deleted the Commission's EU-wide criteria proposal. A spokesperson of the Belgian presidency confirmed Thursday that the final text didn't include any criteria, and was "very close" to Belgium's pitch.
The Belgian proposal was a massive snub to the Commission — and more specifically to Jobs Commissioner Nicolas Schmit. When unveiling the bill in December 2021, Schmit boasted of "clear criteria" to determine whether digital labor platforms were employers.”
Source: politico.eu
📊 Infographic/Stats of the Week
In 2023, SEA food delivery platforms’ total GMV grew at 5% for the 2nd year in a row
Source: Momentum Works
🚚 Deliveries
Industry Slams Provisional EU Deal on Gig Workers’ Labor Rights
Uber records first annual profit as market value approaches $150bn
Uber Sets Profit Record As Lyft And DoorDash Keep Losing Money
Uber expects strong core profit as ride share, food delivery pick up pace
Uber Lays Off Hundreds As Its Alcohol-Delivery App Drizly Dissolves
Dutch watchdog fines Uber 10 mln euros over privacy regulations infringement
Grubhub Partners with My Place Hotels to Offer Food Delivery
DoorDash Aims to Boost Presence Abroad While Rivals Struggle
University of South Carolina launches autonomous robot food delivery
Google Is Making A Major Change To Its Restaurant Ordering Feature
Grab, GoTo Are Said to Revive Talks for Ride-Hailing Mega Merger
IPO-Bound Swiggy’s Revenue Surges 45% To Rs 8,625 Cr In FY23, Loss Widens
Zomato Q3 Results: Net profit at ₹138 crore, revenue up 69% YoY
Zomato, Swiggy To Get Competition As Tata Neu Plans To Enter In The Food Delivery Market
Grab captured 55% of SEA’s food delivery market in 2023: report
Meituan CEO Takes Over Overseas Business as China Sales Wane
Too Good To Go launches AI-powered platform for grocery retailers
Rappi drivers say a public defender’s office for gig workers is useless, not neutral
🚀 Q-Commerce
Blinkit revenue doubles YoY in Q3, ad revenue grows faster than order value
Getir claims spike in London sales as Deliveroo, Just Eat, Uber Eats drivers strike over pay
“Ocado proves that online grocery shopping can indeed be profitable”
Instacart and Hy-Vee Partner to Meet Growing Demand for Same-Day Delivery
Biden administration to launch Instacart partnership as part of ‘Food is Medicine’ summit
🍳 Dark Kitchens / Micro Kitchens / Virtual Brands
Virtual Dining Concepts partners with TikTok for new brand based on viral food trends
Rebel Foods joins ONDC Network to strengthen its D2C presence
💰 Financing / Exits / Acquisitions
💻 Other
📜 Deeper reads
Quick commerce platforms surge rocks neighborhood grocery stores
7 tech takeaways from the National Restaurant Association's annual forecast
What signals has Meituan sent with its largest organizational overhaul in six years?
A Serial Entrepreneur’s Second Shot at Disrupting Food Delivery
Grab captured 55% of SEA’s food delivery market in 2023: report
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