Consolidation continues in the market for quick trade. After the small thumbs of the sector who have been crunched, like the French start-up Cajoo acquired last May by the German unicorn Flink, it is now the giants of ultra-fast delivery who compete. In this context, the Turkish company Getir has just acquired the German start-up Gorillas.
The financial terms of the transaction were not disclosed, but according to the FinancialTimes, this takeover values the new entity at $10 billion. In detail, Getir is valued at 8.8 billion dollars, against 11.8 billion at the start of the year, while Gorillas, which had bought the French start-up Frichti at the start of the year, must be satisfied with a valuation of around 1.2 billion dollars, against 3 billion a year earlier.
A difficult economic equation to solve
Despite hundreds of millions of dollars raised, the two companies have been slowed down in their development in recent months by a difficult economic context, which has made investors in the technological ecosystem cautious. What to shake the followers of dark blindsthese small warehouses located in urban agglomerations supposed to make it possible to deliver groceries at home in less than 10 minutes.
However, such rapid delivery and large-scale development do not go well with a profitable business model. And for good reason, the actors of the quick trade have burned astronomical sums to win the day, with frequent discount offers to entice customers, aggressive marketing campaigns to publicize their service, and warehouses that have sprung up like mushrooms in major cities around the world to improve the territorial network. Moreover, against a background of inflation which is stifling consumers’ purchasing power and while the venture capital market is sluggish, the last few months have been complicated for companies in the sector; Getir and Gorillas, for example, laid off several hundred employees.
In this context, it is therefore the most imposing of the two actors who had the last word. However, the game is not yet won, while Flink and Gopuff, a historic player in the sector which landed in Europe in the summer of 2021 thanks to the takeovers of Dija and Fancy, show appetite on this very market. competitive. It now remains to be seen who will take the advantage among the survivors of this sector still in search of a viable economic model.