Forbes reports that Glovo’s delivery service business in Ukraine has exceeded pre-war figures by 23%, and the company plans to launch it in several cities in eastern Ukraine. Sasha Michaud, co-founder of the service, and Maryna Pavliuk, director of Glovo in Ukraine, told this during a press briefing at the PowerU technology conference.
On February 24, 2022, the top management of the Spanish delivery service Glovo decided to suspend all operations in Ukraine. Employees of the Ukrainian office convinced them to resume work in early March. Despite the war, the Ukrainian part of the business has reached self-sufficiency.
Glovo started conquering the Ukrainian market in its fourth year in 2018. It significantly increased its position after its competitor Rocket’s bankruptcy and several more minor regional services were closed. In the summer of 2022, Glovo finalized a deal with a longtime investor, the German company Delivery Hero, which acquired a 39.4% stake in the startup and valued it at €2.3 billion.
In five years of operation in Ukraine, it has taken over 80% of the local market. Before the full-scale invasion, the company’s market share did not fall below 55%. The plan for 2024 is to increase the number of users and orders. One way is the On-Demand service, which allows establishments without their own delivery to use Glovo couriers by paying for the mileage.
