Collaborative Economy: New Investments Planned

After Delivery Hero bought the digital home delivery platform Glovo in 2020, the company has informed that in order to compete in the Guatemalan market it intends to execute an ambitious investment plan.

Wednesday, March 31, 2021

In September last year, after a transaction worth around $272 million was agreed, the German company Delivery Hero acquired Glovo's operations in eight Latin American countries, including Costa Rica, Honduras, Guatemala, Panama and the Dominican Republic.

Months after the purchase of Glovo was finalized, Delivery Hero has begun to invest in a name change, as in the Guatemalan market it will compete under the PedidosYa brand.

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According to PedidosYa representatives, the investment that the company will make in the short and medium term will be in the millions. The company estimates that in the last few weeks alone it has invested close to $350 thousand in the marketing area.

Regarding growth and expansion plans, Ricardo Santizo, country director of PedidosYa, told that "... the plans are to grow by the end of this year by 150%, this translates into doubling the number of delivery drivers and reaching three thousand, the same number of affiliated businesses and reaching some two thousand 500, and expanding to 18 cities in the country, but first we must strengthen our presence in Guatemala, Quetzaltenango and Antigua Guatemala, so we consider that these 18 cities will be close to the three main cities where we already operate."

Santizo added that one of the strategies is "... to offer rates even lower than those of the current market, ranging between Q9 and Q14. It will depend on the distance, but that is the objective, that the user has the perception that they should not have paid so much for shipping."

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