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Rapid Expansion and Funding: The Rise of Gorillas Delivery

Gorillas: The On-Demand Food and Grocery Delivery Service

In today’s fast-paced lifestyle, time is of the essence. With a growing number of people embracing the convenience of online shopping, the demand for faster and more efficient delivery options is increasing.

And that’s where Gorillas comes in. What is Gorillas?

Gorillas is an on-demand food and grocery delivery service that provides customers with the convenience of having their groceries and meals delivered right to their doorstep. The Gorillas app, available for both Android and iOS devices, allows users to browse through a wide range of products, place an order, and have it delivered within just 10 minutes.

This lightning-fast delivery time is made possible thanks to the company’s network of warehouses located in key areas, which enables them to have stocked inventory readily available for shipment.

Gorillas Company History

Founders Kaan Smer and Jrg Kattner started Gorillas in Berlin in May 2020, backed by a seed funding round of 1.5 million. In just a few months, the company had already expanded to Amsterdam, London, and Paris.

In November 2020, Gorillas secured a series A funding round of 36 million, led by DST Global, to help the start-up grow internationally. By the end of 2020, Gorillas had achieved unicorn status with a valuation of 1 billion.

However, Gorillas has also faced worker concerns and struggles, such as strikes by delivery riders demanding better pay and conditions. In July 2021, Turkish delivery giant Getir acquired Gorillas for an undisclosed fee, aiming to expand its network of micro-fulfilment centers across Europe.

Revenue Streams

Gorillas generates revenue through two primary streams: product sales and delivery fees.

Product Sales

Through its app, Gorillas allows users to browse and purchase a wide range of products, including fresh produce, meat, and dairy, along with household items such as cleaning supplies, pet food, and personal care products. Gorillas makes a profit on these sales by leveraging its network of warehouses, which enable the company to offer products with minimal lead times and ensure consistent stock availability.

Gorillas also sells private label products, which are more profitable as the company owns the manufacturing process, and earns advertising revenue through in-app CPG ads.

Delivery Fee

Gorillas charges a fee for delivery, which is determined by the distance between the customer’s location and the nearest warehouse. The company also plans to introduce robots for delivery, which could reduce delivery fees and save on labor costs.

Conclusion

As the global pandemic forces people to stay indoors, the demand for on-demand delivery services has increased. Gorillas is among the top players in the game, utilizing its network of warehouses and efficient logistics to provide speedy delivery services that cater to the needs of its customers.

With the acquisition by Getir, it remains to be seen how Gorillas will evolve and grow in the future, but one thing is certain – the demand for fast and efficient delivery services will continue to grow.

Funding, Revenue, and Valuation: The Financial Side of Gorillas

When it comes to start-ups, funding plays a crucial role in shaping their future. Securing funding from venture capitalists is often the lifeblood that allows nascent companies to expand and explore new horizons.

Gorillas, the on-demand food and grocery delivery service, is no exception. Let’s take a closer look at its funding, revenue, and valuation.

Funding

Gorillas’ journey began in May 2020 when co-founders Kaan Smer and Jrg Kattner secured 1.5 million in seed funding from venture capitalists to start their on-demand delivery service. In November 2020, Gorillas raised 36 million in a series A funding round, led by DST Global, with participation from some of Europe’s top tech investors such as Coatue, Tencent, and Atlantic Food Labs.

The company’s rapid growth caught the attention of other investors, leading to more investment rounds. In March 2021, Gorillas raised $290 million in a series B funding round, led by Coatue and DST Global, taking its total funding raised to over $335 million.

The start-up has also raised an additional $1 billion in convertible debt financing. Notable investors in Gorillas include Delivery Hero founder Niklas stberg, XING founder Lars Hinrichs, and venture capital firms such as Atlantic Food Labs and Global Founders Capital.

Gorillas’ ability to secure funding from some of the world’s most notable investors is a testament to its potential for growth and success. Revenue & Valuation

Gorillas’ revenue has grown exponentially since its inception in 2020.

According to a report by German newspaper Handelsblatt, the company generated $4.9 million in revenue in January 2021, just eight months after its launch. By March 2021, its monthly revenue had jumped to $22 million.

In May 2021, just over a year since the start-up’s launch, Gorillas raised $290 million in a series B funding round, giving it a valuation of $1.2 billion. This was a significant increase from its previous valuation of $200 million in November 2020.

Gorillas’ total funding raised now stands at $1.3 billion. Gorillas has also seen its valuation soar to as high as $3 billion, according to reports by Bloomberg, citing people familiar with the matter.

This makes the start-up one of the most valuable in Europe’s booming food-delivery market, comprising established players such as Deliveroo, Just Eat Takeaway.com, and Uber Eats. The start-up’s rapid valuation growth is a result of its continued expansion, dedication to sustainability, and innovative business model.

Gorillas’ micro-fulfilment centers enable it to offer lightning-fast delivery within just 10 minutes, a feat that has given the company a leading edge over competitors by offering unparalleled convenience to its customers.

Conclusion

Gorillas is a prime example of a start-up that has leveraged venture capital funding to achieve rapid growth and success in Europe’s competitive food-delivery market. With its revenue on the rise and valuation continuously increasing, the company has proven to be a valuable investment for venture capitalists eager to ride on its success.

The company’s innovative service model, quick delivery times, and focus on sustainability have established Gorillas as a top contender in the food-delivery space. Only time will tell if this on-demand delivery start-up can continue its expansion and maintain its sky-high valuation.

In summary, Gorillas’ on-demand food and grocery delivery service has rapidly expanded since its launch in May 2020, backed by venture capitalist funding from some of Europe’s top investors. By leveraging its network of micro-fulfilment centers and warehouses, Gorillas has revolutionized the delivery industry, with notable investors seeing the potential of its innovative business model.

With a valuation of $1.2 billion and growing, Gorillas has established itself as a valuable investment and a top competitor in the food-delivery market. The rapid growth and success of Gorillas serve as a testimony to the potential benefits of venture capitalist funding for start-ups and highlight the importance of staying innovative and adaptable in a fast-paced, ever-changing industry.

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