Oscar Pierre is the Founder and CEO @ Glovo, the food delivery site that will get you anything you want to your doorstep. This story is insane, the company was started by Oscar 11 years ago, in their pre-seed round they sold ⅓ of the company for €100K. The company was later saved by a deal they made with McDonald's. The company nearly ran out of money on several occasions, one time the funding round came from the CEO of Rakuten who Oscar met an FC Barcelona drinks. Today, they are a part of DeliveryHero who acquired them for $2.2BN, they have delivered 1BN orders and have almost 60M customers.
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In Today’s Episode We Discuss:
(00:00) Intro
(00:49) Starting with Nothing
(04:01) The First Funding Round: Selling ⅓ of the Company for €100K
(06:03) Marketplace Dynamics and Expansion
(12:52) The McDonald's Deal That Saved the Company
(16:19) Running out of Money Three Times: Fundraising Hell
(24:47) International Expansion: What Worked
(28:43) Lessons from Failures: What Brazil Taught Us
(31:22) How to Win in Emerging Markets
(31:49) The Burn Rate (Burning $1M per day) and Investor Concerns
(33:33) Scaling Challenges and Competitor Threats
(34:28) The Biggest BS Elements of Company Values
(36:13) How I Ruined the Culture of the Company
(42:27) Layoffs and Talent Management
(43:26) Biggest Lessons from M&A
(46:21) The Future of Quick Commerce
(47:31) Acquisition by Delivery Hero
(51:23) Post-Acquisition Reflections
(58:40) The CEO on Trial and Facing Prison
(01:03:28) Quick-Fire Round
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