After raising $1B last year, Gorillas has recently laid off 300 of its workforce members and plans to quit operations in four markets, including Italy, Spain, Denmark and Belgium.
The ultra-fast delivery startup blamed dried up funding and accumulated debts for these moves. The startup now plans to increase its investment in its core markets — Germany, the Netherlands, the UK, France, and the US. These markets are comparatively more profitable and generate most of the revenue. Lately, we have heard about layoffs and operation terminations from these ultrafast delivery startups. In March, Buyk ceased operations in New York City and Chicago. Fridge No More, which previously operated in New York City and Boston, has closed its business. 1520, which served customers in New York City and Chicago, ceased business in December.
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