Gorillas may be endangered
Grocery app Gorillas, which promises to deliver goods in as quickly as 10 minutes, is laying off half of its office staff. In a press release, the company said it was letting go of roughly 300 employees from a “global office workforce” of 600.
The company is also planning to tighten its focus on five markets that account for 90 percent of its revenue: the UK, US, Germany, France, and the Netherlands. The company also operates in four other European markets — Spain, Denmark, Italy, and Belgium — where it says it is “looking at all possible strategic options for the Gorillas brand.
The news suggests trouble for the fast-growing “instant” grocery sector. Over the past few years, a huge number of these services have, fueled by venture capital investment and pandemic lock-down orders. These companies all rely on the same basic infrastructure: warehouses filled with groceries scattered throughout urban centers and armies of e-bike and scooter-riding delivery drivers to deliver the goods.
Many experts have warned that these services are essentially unsustainable, though, with their growth predicated on discounted prices that have been underwritten by VC funds hoping to capture what remains of the market once a few dominant players emerge. A
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