The q-commerce belt tightening continues: US category veteran GoPuff, the Softbank-backed delivery platform juggernaut — which was being valued at $15BN as recently as 2020, and had been rumored to be prepping for an IPO at the start of this year (er, nope that didn’t happen!) — is dialling back its ambitions in Europe.
According to a report in Bloomberg, which cites people familiar with the matter, the speedy grocery delivery player is planning to pull out of Spain in a bid to slim its ops and push for profitability — a move that will also see it put its regional focus on the UK market, per the report.
The news publisher says the UK is one of GoPuff’s fastest growing markets, with revenue there increasing at a 30% compound monthly rate.
A spokesperson for GoPuff declined to comment on Bloomberg’s report but we understand the substance of the story is correct.
GoPuff only launched in Europe in Novembe …
