As part of the said deal, Delivery Hero acquired 39.4 percent of Glovo. Shareholders, on the other hand, acquired Delivery Hero shares in exchange for their Glovo shares. At this point, it should be noted that Delivery Hero is among Glovo’s investors. Delivery Hero currently owns approximately 44 percent of Glovo.
If you remember, the German company announced that it bought Glovo’s Latin America operations in 2020. He even said that at that time, Glovo paid around 230 million euros to take over its operations in eight markets. At this point, it is worth adding that Glovo currently operates in 25 countries and 1300 cities in Europe, Central Asia and Africa.
Glovo’s position after the acquisition
It should be noted that within the scope of the agreement, Glovo will continue to carry out its operations under its own brand. In fact, Glovo’s platform, executive team and two co-founders will continue to hold their positions in the company.
In this context, let’s also mention the current data of the Glovo application. The application hosts approximately 15 million users per year and 70,000 monthly active couriers. Let’s also emphasize that the company has 300 thousand active business partners per month. The company generated 800 million euros in revenue in 2021 with 80 percent organic growth.
Delivery Hero stated that it will disclose the financial details of the deal, Glovo’s business model, financial statements and competitive position on January 11, 2022. This agreement, which we can define as a union of forces, advances Delivery Hero’s position in the market.