Glovo Co-Founder Predicts Surge in Strategic Acquisitions Following DoorDash-Deliveroo Dea

Sacha Michaud, co-founder, Glovo, said: "I think there are not too many players now to consolidate. There are some big companies. It might just be some very opportunistic, smaller companies being acquired.”

Earlier this week, UK-based food delivery app Deliveroo agreed to be bought by US company DoorDash in a deal worth £2.9 billion. Together, the two companies will operate in over 40 countries and serve around 50 million customers every month.

Michaud said the deal was a “positive” thing for the food delivery market in Europe and that there was huge growth potential in Europe compared to Asia, saying that average food orders per month in Europe were “tiny” compared to Asia.

He added: "The growth of our industry is huge and it’s going to be through quick commerce.”

The deal is expected to increase competition with other food delivery companies like Just Eat and Uber Eats in the UK.

It also follows a trend of mergers in the food delivery industry. Earlier this year, Just Eat was bought by Prosus, a South African internet investor, and Deliveroo sold part of its Hong Kong business to Delivery Hero.
Separately, Michaud, who heads up global affairs at Glovo, added his voice to the debate about whether European founders lack ambition compared to US founders.

He said: “I think the ambition is there. The reality is that role models are key for startups. We need more role models. We need some Steve Jobs, Bill Gates Europeans.

“There have been some great companies out of Europe. I think European founders are super-ambitious."

About Glovo

Glovo is a Spanish app started in 2015 that connects people with nearby shops and delivery drivers. It lets users order food, groceries, medicine, and other items, and get them delivered quickly. Glovo works in many countries around the world.