Scramble for booming delivery market is the order of the day
Can these companies, many of which are just starting out, sustainably turn a profit?
In New York, London and other big cities, a new breed of couriers with names such as Gorillas, Getir and Gopuff is promising to have basic groceries — bananas, six-packs of beer, Doritos and such — at your front door in as little as 10 minutes.
For venture capitalists on the prowl for businesses that might benefit from a lockdown, these ultrafast grocery deliveries were an obvious outlet. In 2021 alone, investors pumped $3bn into 13 such startups — an eightfold increase in cash from the previous year. Getir’s July valuation of $7.6bn means it’s worth more than Macy’s or Nordstrom...