Who Owns Glovo? Niklas Östberg Wealth, Businesses and Glovo Branches
With time the era of people going to the market to purchase goods will be history, instead, the market will be coming to us. What do I mean when i say the market will be coming to us? Glovo is the perfect example of what I’m talking about, for those who have used Glovo, all you need is an internet connection and access to their app or platform, and tell them what you need and the delivery guy will be at your door within minutes.
The company has cemented its name as the best food-delivering company in Kenya both in homes and offices. On top of that, for those who are online workers or are lazy to get something from the market, Glovo is always there to make sure they are sorted as they also deliver groceries. So, with all said and done who is the owner of the delivery company?
Who Owns Glovo?
Glovo is an on-demand Spanish-founded company established in 2015 by Oscar Pierre and Co-founder Sacha Michaud. However, despite the two founding the business, in July 2022 Delivery Hero, a German multinational online food delivery service acquired a full stake in Glovo becoming the new owner of the business. The Company is co-owned by Niklas Östberg who is now the owner of Glovo which operates under Delivery Hero.
The two gentlemen began their journey at McDonald’s before going globally. Some of the countries they ventured into didn’t pan out as they had hoped and in 2020 they closed their door in four countries including, Turkey, Puerto Rico, Egypt, and Uruguay.
Following the 2020 pandemic hit, the company was struggling to survive and Delivery Hero, a German-based online food delivery company stepped in and purchased the Latin American operations in a deal that saw the founders pocket $272 million. Having sold the Latin American operation, Glovo was left with the Southern and Eastern Europe operations.
Delivery Hero went on and acquired the controlling shares adding another 39.4% in 2021 before sealing the deal of acquiring full ownership in July 2022.
Since arriving in Kenya, it has saved many Kenyans who are always occupied by their jobs, with limited time to go out. On top of that, many Kenyans have also earned a living through the company.
The company pays per order delivered but the distance from the store to a client’s house or office becomes the price determiner. Additionally, weather, as well as time, also determines the price of the delivery.
How Glovo Works and Where to access it.
As we had stated earlier Glovo is an online business it doesn’t has a store instead they depend on local supermarkets. They have developed an app that allows their users to order anything they want and once they pay they get everything from the nearest local supermarket delivered to them.
However, despite how sweet it sounds for your grocery shopping at the doorsteps, Glovo isn’t in all counties it is currently settled in Nairobi and only serves the Nairobian. If you’d like to try it just go to Play Store or Apple Store and download the Glovo app and make your order.
Niklas Östberg Wealth and Businesses
Niklas has invested heavily in the online delivery business aside from Glovo he’s also the co-founder of Delivery Heros which bought Glovo in 2022. Even though much is not known about his wealth, his net worth is estimated to be around Ksh 500 billion