The Glovo entrepreneurial ecosystem helped the brand launched in January 2022 earn over 780 million euros.
With the entry of the year 2022, almost coinciding with the chimes, the German giant Delivery Hero announced an agreement that would lead it to definitively take control of Glovo in one of the most outstanding transactions in the history of the sector in Spain.
The operation valued the Catalan startup at 2,300 million euros. An operation that would not be executed in cash, but through an exchange of shares of the German company for each title of the Spanish one.
This scheme has had a negative impact on Glovo's minority investors since, since the operation was announced, Delivery Hero's shares have fallen by 65%, going from 98 to 35 euros.
Glovo entrepreneurial ecosystem
According to El Confidencial, this situation has occurred because the purchase and sale agreement did not include a minimum selling price clause that would protect sellers from a possible stock market crash.
On July 4, Glovo gave the green light to the operation, although not with the support of all shareholders. Delivery Hero will now control 94% of Glovo's capital.
In that remaining almost 6% are the titles held by Óscar Pierre and part of the team, together with some minority investor who did not join the purchase and sale agreement.
In this context, it is already in your hands to try to look for an exit window in the future.
Glovo will continue to operate with its brand, platform and management team, led by its 2 founders: Oscar Pierre, current CEO and Sacha Michaud.
Glovo entrepreneurial ecosystem summary
How Glovo, the collaborative errand boy, works
Many already use Glovo when they have little time to run errands or to place an order. Here we show you how Glovo works and the prices of all its services.
Surely you have seen on the streets of some cities motorists or cyclists who go with a kind of backpack on their shoulder, yellow and with the Glovo logo. Well, these are the so-called glovers or delivery men and they belong to a company present in 26 countries and imported to Spain, and their business is collaborative messaging.
Anyone can send a package, or ask for any errand to be done. Glovo works to be helpful, fast, efficient, and do errands and shipments for us, when we don't have time. They can buy flowers if we need to make a quick gift, and deliver them to the place we tell them, pick up some theater tickets and deliver them to us, even present a role at a university, etc.
The glovers community is made up of self-employed people who have motorbikes or bicycles, and who sign up for the platform to work on it. Glovo trains them, and it is they who decide when to work or accept orders, so that they can alternate it with their usual jobs or with other activities. When someone places an order, the glovers receive a notification and decide whether or not they can take over the errand.
In Glovo, couriers are available from 8 am to 12 pm, and also 365 days a year, including Sundays and holidays.
Glovo entrepreneurial ecosystem highlights
