Gorillas probably loses investor

Actually Doordash wanted to contribute 400 million US dollars to the next financing reason, now the American company is said to have bailed out. Both Doordash and Gorillas have not commented on the information.

According to information from Bloomberg the Berlin-based start-up Gorillass has lost an investor who wanted to add $400 million to the next financing round. This would have increased the valuation to 2.5 billion US dollars. The investor would have been the American delivery service Doordash. The two companies reportedly disagreed on Gorillas' future strategy. Doordash urged taking the expansion into the American market slowly and focusing on cutting losses in Europe first.

Gorillas is still in the red, and internal documents show that the number of orders and users is declining: according to information from Capital the number of active customers has not been growing since the beginning of July, but has fallen by five percent. Orders per warehouse have also declined or stagnated. But according to calculations, the Berliners need 1,100 orders per warehouse per day to achieve a positive contribution margin. But since July, even the successful warehouses have remained at 900 orders per day, while Gorillas keeps opening new locations, which only have a negative effect on the start-up's figures, especially at the beginning. By the end of the year, the number of warehouses should have grown to 500, currently there are 170.

There is said to have been a letter of intent between Doordash and Gorillas, as Bloomberg reports. The deal is now said to have been overturned by the Americans. The financing round should amount to a total of 800 to 900 million US dollars, the main investor would have been Doordash. Both companies declined to comment on the information from Bloomberg or Capital. Most recently, there were rumors about a takeover of Gorillas by Doordash, the American company wants to enter the German delivery services market itself.