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Glovo acquires Poland's PizzaPortal to beat Uber Eats for $39 million - Business Insider

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Glovo, a food delivery app which is thrashing Uber Eats in parts of Europe, just acquired a Polish competitor for $39 million

in a decade — but also chocked with players ranging from international giants like Uber Eats to well-funded local competition like Glovo and the UK's Deliveroo. That Glovo is acquiring may be a sign of further consolidation to come.

Glovo described PizzaPortal as Poland's biggest food delivery startup, potentially meaning the Spanish startup will lead the market after the acquisition. Pyszne.pl is another major rival in Poland. The acquisition comes after Uber CEO Dara Khosrowshahi outlined a new strategy for rival Uber Eats: dominate the market, or quit. He acknowledged directly that local competitors — like Glovo — are now well-funded and hard to beat.

Khosrowshahi said during Uber's third-quarter earnings call on Monday: "We're going to shoot to get to number one and number two in every market that we're in. If we can't make it to that level, we'll look to dispose or we'll get out of the market."Customers can order items from the pharmacy, the supermarket, as well as food to go. The company is headquartered in Barcelona, Spain and mostly focuses on eastern European, Mediterranean, and Latin countries.

 

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