This Week in Food Delivery & Quick Commerce (18/02/23)
Hi all,
As always, primarily, I urge you to support the Ukraine humanitarian efforts.
Highlights:
DoorDash had a great Q4
Getir to lay off UK staff
CloudKitchens exit India
Milkrun lays off 20%
Zomato exits 225 cities
Swiggy to cut off cloud kitchens
Bolt to invest €500M+ in Africa
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💬 Quote of the Week
““We passed $500 million in annual run rate [for ad sales], and that’s based on increasing the number of active advertisers that we have by 80% on a year-on-year basis,” Uber Chief Executive Dara Khosrowshahi said on a call to discuss the company’s earnings.
More than 315,000 businesses ran ads with Uber in the fourth quarter, nearly double the company’s 170,000-plus advertisers a year earlier, according to the company.
[…]
Uber charges $45 per 1,000 impressions for in-app ads, according to Mr. Khosrowshahi, who also said the company has recorded 3% click-through rates for those ads. Both numbers are considerably above industry averages for similar products, according to ad agency executives. ”
Source: WSJ
📊 Infographic/Stats of the Week
Source: Bloomberg Second Measure
🚚 Deliveries
DoorDash Sales Rose Last Quarter as Consumers Continued to Order Delivery
Delivery Hero ramps up interest payments to raise 1 bln euro in convertible bond
Grubhub Drops Delivery Fees For Restaurants On Direct Channel
Food delivery maven Marc Lore unveils NYC shop after dumping Mercedes mobile kitchens
Zomato announces ‘Rest Points’ for delivery agents aided with high speed internet and washrooms
After Douyin, WeChat begins testing delivery service mini-programs
Bolt to Invest Over €500 Million In Africa Over Next Two Years
🚀 Q-Commerce
Instacart Reportedly Adding Deliveries to Businesses in Clash With Amazon, Walmart
Instacart’s new features give shoppers more ways to earn on their own schedules
Heinen’s Ends Partnership With Instacart, Takes Services In-House
Milkrun lays off 20 per cent of staff as tough market conditions bite
Reliance Retail Shuts Down Quick Commerce Venture JioMart Express
Blinkit looking to expand dark store count by around 40% over next 12 months
Grocery Delivery App Shelves Seoul IPO on Valuation Frustration
Companies Are Slow to Adopt Robot-Operated ‘Dark’ Warehouses
🍳 Dark / Ghost Kitchens
💰 Financing / Exits
Toronto’s Cookin raises $17-million to build online delivery market for home-cooked meals
Cloud kitchen startup Edabba plans to raise funds for expansion
💻 Other
📜 Deeper reads
The Rise And Rise Of Quick Commerce, But Where's The Profitability?
The Friday Checkout: Instacart faces growing pushback from retailers
The Future Of Food Delivery Depends On Human Emotions: Not Speed
Delivery Hero: The Mayhem Is Over, Clear Road To Profitability
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