The American meal delivery company Doordash has European ambitions. It wants to realise these by investing in the Berlin-based express grocery delivery service Gorillas, also active in Belgium and the Netherlands.
Bloomberg reported that Gorillas was looking for fresh capital to open warehouses in new cities a few months ago. The Berlin start-up was aiming for half a billion dollars (430 million euros), writes Dutch newspaper Het Financieele Dagblad.
Now, according to the business newspaper, America's largest meal delivery company is prepared to invest heavily in the express courier service: there is talk of hundreds of millions of dollars.
Negotiations regarding the stake in return are still in progress. It is expected that they could reach a deal before the end of the month.
Doordash went public at the end of last year, bringing the company 3.4 billion dollars (just under three billion euros). So there is financial room for takeovers. According to Simon van Veen, fund manager of the Sustainable Dividends Value Fund, there is potential in the combination of the meal delivery company and the express courier:
"Meal delivery can be profitable from as little as 10 or 15 euros and, by extension, smaller quantities of groceries can also be delivered. And that within 10 minutes. That makes them faster and cheaper than Albert Heijn."
Gorillas is now also active in Belgium: two months ago, the delivery company started in Brussels and Antwerp. In the Netherlands, the company delivers in Amsterdam, The Hague, Rotterdam and Utrecht.