Glovo CEO Planning IPO In Next Two Years After Raising $530 Million Round

Glovo CEO Planning IPO In Next Two Years After Raising $530 Million Round

Glovo cofounder and CEO Oscar Pierre has smashed Spain's record for the largest fundraise. Glovo's cofounder and CEO Oscar Pierre has big plans for the "delivery anything" courier app after raising a $530 million round, smashing its own record for the largest fundraise in Spain. Pierre, 28, wants to take the Spanish unicorn to at least 10 new countries in the next 18 months, while rolling out a network of hundreds of "dark stores" used to ship groceries, electronics and prescriptions within a 10-minute window. One option not on the table for Barcelona-based Pierre was a sale of the six-year-old business that has grabbed the top spot for the food, and now grocery delivery market, in parts of Europe and the Middle East. Glovo's acquisitive investor Delivery Hero, which took part in the Series F round, snapped up its Latin American operations last year in a $272 million deal and has bought out scores of smaller delivery apps. Pierre said investors were clear on his timetable to push for an initial public offering in the next two to three years but Deliveroo's IPO flop, the worst first-day debut for any London-listed stock, had given him reservations about raising capital from