Gorillas

Getir to acquire Gorillas — and Gorillas investors may go bananas

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Ultrafast grocery delivery startups were once seen as part of the future of last-mile delivery, with...

https://www.freightwaves.com/news/getir-to-acquire-gorillas-and-gorillas-investors-may-go-bananas

Getir may bail out troubled delivery firm Gorillas

Gorillas delivery bike sits on the sidewalk

Embattled ultrafast delivery provider Gorillas, which has operations in New York City as well as several European markets, could be rescued by another firm facing its own pressures.

Reports indicate that Getir, an Istanbul, Turkey-based delivery service with global operations, could buy Gorillas in a cash and equity deal, according to Bloomberg. The Financial Times said the deal would provide Berlin, Germany-based Gorillas shareholders approximately $100 million in cash and 12% of the combined...

https://www.freightwaves.com/news/getir-may-bail-out-troubled-delivery-firm-gorillas

Ultrafast grocery firm Jokr pulling out of US, selling assets

Grocery delivery bag on porch

As I wrote back in May, instant grocery delivery has reached an inflection point. 

Throughout the pandemic, investors poured boatloads of cash into ultrafast delivery startups, some of which had valuations north of $10 billion. But the promise investors initially saw in quick commerce has gradually evaporated.

It’s been a tumultuous few months for ultrafast delivery startups, and New York’s Jokr is the latest casualty. The company this week revealed that it would scrap its small share of the U.S....

https://www.freightwaves.com/news/ultrafast-grocery-firm-jokr-pulling-out-of-us-selling-assets

Ultrafast delivery startup Gorillas slashes workforce by half

Gorillas food and grocery

Instant delivery is reaching an inflection point. Ultrafast delivery startups like Jokr, Getir and the king of them all, Gopuff, hit the ground running, seeing tremendous growth in the early months of operation as customers embraced the promise of 15-minute delivery. But it seems the spell has begun to wear off.

In the latest blow to the young instant delivery space, Berlin-based startup Gorillas, one of several ultrafast platforms delivering in New York City, announced plans to lay off nearly...

https://www.freightwaves.com/news/ultrafast-delivery-startup-gorillas-slashes-workforce-by-half

Instacart files for IPO, but should it?

Woman wearing Instacart shirt reaches for vegetables in a grocery store aisle.

Instacart said late Wednesday night that it had filed a Form S-1 with the Securities and Exchange Commission for a possible initial public offering.

According to Bloomberg, the delivery firm is working with Goldman Sachs and J.P. Morgan on the possible offering, which Instacart said is not a definitive choice as of yet.

An IPO was rumored last year, although there was some speculation that Instacart would forgo the traditional IPO route and go the direct listing route instead. In a direct...

https://www.freightwaves.com/news/grocery-delivery-firm-instacart-files-for-ipo