GLOVO: Q-commerce, the evolution of E-commerce

In June 2021, Glovo, the Spanish delivery company par excellence, had just raised 450 M euros in financing and was close to 2,000 M in valuation, five years after its foundation. However, the path had not been easy for a company that was versioning the traditional concept of “errand boy” by incorporating technology. Its business model had changed several times to compete in a market dominated by giants and find its place in the world. Its latest movements sought to reach the break-even point by betting on improving profitability. Investors endorsed them. Would the strategy be good enough to counteract the impact of the recently approved “Rider Law” that forced delivery companies to hire their couriers?