Ramesh Kumar from Greater Noida
Guess the name of a grocery delivery company...
...
Give up? Okay. No issues.
How about "Gorillas"?
Yes. That is the name of a Berlin-based grocery delivery business entity that recently attained unicorn status (1 bn American dollar valuation) with heavy Venture Capital/Private Equity participation.
Gorillas CEO and co-founder Kağan Sümer is thrilled because the latest round of Series B funding is pure 100% equity. No debt at all.
It operates in 12 cities: Amsterdam, London, and Munich. and offers 10 minutes delivery time to customers. For this promise to be effective, it adopts the dark store model. Over 40 micro fulfillment centers are functional in Germany, the United Kingdom, and the Netherlands. Over 1000 riders are on its rolls and it promises to reward its riders and warehouse staff with a 1 million American dollar one-off bonus.
Gorillas was founded May 2020 in the midst of pandemic by Kağan Sümer and Jörg Kattner. This German start-up has achieved unicorn status within the first year of its inception. Sumer is a passionate cyclist and rides to identify routes and study traffic patterns.
The founders maintain that the weekly grocery run is outdated. Today, there is spontaneous shopping habits are in vogue. The competition is getting hotter by the day.
There is discontentment among riders of Gorillas over working conditions. 10 minute delivery time in a city ambiance is no easy task. Gorilla's hourly wage of 10.50 euro is the standard rate in Germany.
All said and done, lots of money is pouring into last-mile delivery across the globe. Private Equity and venture capitalists see a huge business potential for this business. As and when the pandemic fear evaporates and normalcy is restored, will this business remain sustainable is a moot question. But... no one has a clear-cut answer to this tricky question.
So far, so good.
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