UK delivery startup Deliveroo mulls pulling out of Spain as GoPuff raises US$1Bn in latest funding round

UK – UK delivery startup Deliveroo is considering ending services in Spain due to high costs associated with a recent requirement for food delivery companies to convert their couriers into staff workers.  The company said in a statement that it had determined that achieving and sustaining a top-tier market position in Spain would require a disproportionate level of investment with highly uncertain long-term potential returns.  This did not make economic sense to the company for a market that accounted for less than 2% of its overall transaction values in the first half of 2021.  The…

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US grocery delivery startup goPuff raises US$1.15bn, doubling valuation to nearly US$9bn

US – goPuff, a rapidly growing grocery delivery startup in the US, has raised US$1.15 billion in new funding, as it looks to become the world’s go-to solution for immediate everyday needs. Investors in the round include D1 Capital Partners, Fidelity Management and Research Company, Baillie Gifford, Eldridge, Reinvent Capital, Luxor Capital and SoftBank Vision Fund 1. The new funding comes on the heels of its US$380 million funding round, which valued the company at US$3.9 billion. According to a statement by the grocery delivery startup, the latest funding round…

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