Glovo Exists 8 Markets Including Egypt

Glovo, the leading delivery service company, has announced the withdrawal from four markets, namely Egypt, Turkey, Puerto Rico and Uruguay.

The company added in a statement issued on Tuesday, that this decision came in the framework of the company’s strategy to consolidate its position, redistribute its resources to the main areas, and reach the targeted profitability by 2021.

According to Glovo, on January 21, it will withdraw from 8 of the 306 cities in which it currently resides, noting that these cities contributed 1.7 percent of the company's total sales in 2019.

In a related context, Oscar Pierre, the founding partner and CEO of the company, said that this decision was very difficult, but the company's strategy is to focus on the markets through which it can grow.

This decision will help the company consolidate its business in southwest and eastern Europe, Latin America and Africa, and reach the targeted profitability by early 2021, Pierre explained.

The statement noted that the application will remain active (available) in Turkey, Egypt, Puerto Rico and Uruguay for a few weeks, and Glovo will continue to provide support to both delivery agents, customers and partners until the end of this transition period.

It is noteworthy that, in May 2019, Glovo announced that it would leave Egypt, then returned in July of the same year after investigations conducted by the Competition Protection Authority and the prevention of monopolistic practices.

The company recently modified its cabling system and abolished the weekly bonus system.

It is worth mentioning that "Glovo" is a European on-demand delivery. that and has more than 2.5 million monthly active users, and more than 25 thousand partners.