This Week in Food Delivery & Quick Commerce (10/12/22)
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As always, primarily, I urge you to support the Ukraine humanitarian efforts.
Highlights:
Getir buys Gorillas at a big discount
Flink falls into bankruptcy in Austria
Uber Eats to pay $10M for listing restaurants without consent
Oda raises €150M
MarginEdge raises $45M
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💬 Quote of the Week
“The deal values Gorillas at around $1.2bn, according to people familiar with the terms, down from $3bn in September last year.
Getir is also cutting its own valuation by around a quarter. After Getir hit a $11.8bn valuation when it raised nearly $800mn in March, the new combined entity is valued at $10bn, with Gorillas comprising 12 per cent of the total. This has left the existing Getir business valued at $8.8bn.
Some of Gorillas’ investors - which include Delivery Hero, Coatue Management, Tencent and DST - will be paid around $40mn in cash, in addition to the equity in Getir, these people said. However, given the drop in valuation, it is likely some Gorillas backers will be left with little or no return on their investment.”
Source: FT
📊 Infographic/Stats of the Week
Retailers can use both base prices and promotions to create a little holiday magic for their customers as they search for the perfect gifts. But in recent months, retailers in many categories, except clothing and accessories, have increased base prices while scaling back their promotions compared with last year, according to our analysis of NielsenIQ and Ascential data (see Figure 3). These changes mean higher out-the-door prices for consumers for their holiday shopping.
Source: Bain & Company
🚚 Deliveries
Uber Eats will pay $10M for listing restaurants without their consent
In Washington, Spokane City Council approves ordinance capping fees at 15%
Social Security Issue Delays Mexico’s Planned Labor Reform for Delivery App Workers
Singapore's gig economy braces for 'complex' safety net rules
🚀 Q-Commerce
Ocado to trial revival of ‘delivery to the kitchen table’ scheme
Walgreens Partners With Doordash, Uber for Free Paxlovid Delivery Service
🍳 Dark / Ghost Kitchens
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💰 Financing / Exits
MarginEdge lands $45M to give restaurants real-time spend data
Social commerce startup Kapu, by ex-Jumia executive, comes out of stealth with $8M funding
With $3M new funding, Egyptian startup OneOrder sets out on growth drive
Brito joins Egypt’s growing list of cloud kitchens after raising $1.25 million
💻 Other
Blue Apron was once valued at $1.9 billion. Now it’s worth $30 million and it just announced layoffs
JioMart is finally making a dent in Amazon and Walmart’s e-commerce stronghold in India
Amazon Sued by District of Columbia for ‘Stealing’ Delivery Driver Tips
Uber Sues NYC Taxi Commission to Block Rate Hike for Drivers
European tech groups lose $400bn in value following funding crunch
📜 Deeper reads
Getir devoured Gorillas as the instant food-delivery business keeps consolidating
Will India’s Q-commerce segment be defined only by Blinkit and Zepto?
Latest In Tech Layoffs: DoorDash Lays Off 1,250 - We Examine Their Financial Outlook For 2023
Grocers Get Creative to Meet Consumers’ Demand for Cheap Food
Duffl’s David Lin dishes on why traditional rapid grocery delivery is not working
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