Rapid delivery businesses face headwinds such as cautious investors about loss-making tech firms, intense competition and consumers returning to in-person shopping
Rapid delivery companies have curbed their ambitions in the Netherlands after disgruntled Dutch cities put a halt on the explosive growth of their distribution centres.
The voluntary restrictions in the EU’s fifth-largest economy come as the rapid delivery business faces growing headwinds, including investors increasingly cautious about loss-making technology companies, intense competition and consumers returning to in-person shopping as they resume commuting following the Covid-19 pandemic.
Getir Perakende Lojistik, a Turkish startup, was valued at $11.8bn after a $768m funding round in March led by Mubadala Investment. Flink agreed on a deal this month that valued it at $5bn, according to a person familiar with the matter who asked for anonymity because the matter is private. The Sunday Times reported in March that Gorillas Technologies, backed by Delivery Hero and Tencent, was seeking new funding that would value it at $5bn.
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