Flink buys French rival Cajoo

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The supermarket chain Carrefour is also involved in the deal. Also: Elon Musk talks about lower Twitter price and sends a poo emoji. And a star investor bets against Apple.

Flink and Cajoo drivers – the market for food suppliers continues to consolidate.
Considerable

Good Morning! While you slept, work continued elsewhere in the digital scene.

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The ten minute delivery service Considerable buys the French rival Cajoo. The Berliners want to accelerate their expansion in France and further expand their position in Europe. Carrefour, Cajoo’s former investor and retail partner, will become Flink’s exclusive partner for the French market. The supermarket chain also becomes a direct shareholder. The financial details of the takeover were not disclosed, but insiders speak of a deal in the amount of 90 to 100 million euros. Carrefour’s investment is said to be between 60 and 70 million euros.

In addition to Germany and France, Flink is also active in the Netherlands and Austria. The Berliners had only received a financial injection of 750 million US dollars in December, a series B financing round led by the US delivery service Doordash. At the time, the grocery delivery service was valued at $2.1 billion. After the current deal, Flink could reach a market value of five billion dollars, according to a report by Techcrunch. According to its own statements, Flink is the market leader in France after the takeover. [Mehr bei Techcrunch]

On the founding scene is about today exit tips. Is there the wrong buyer for your own startup? Yes, there is, like the case of the Anchorage exits in Nestlé indicates. The spice startup got a shit storm because fans and partners are dissatisfied with the food company, which is repeatedly criticized for child labor or animal testing. We asked an expert what founders need to consider so that they don’t suffer the same fate when selling a company. [Mehr bei Gründerszene+]

And here are the other headlines of the night:

Of the Twitter-Deal with Tesla boss Elon Musk Keeping the headlines busy: After Musk temporarily put the acquisition “on hold” to check the number of fake and spam accounts, the billionaire has spoken publicly that he might now aim for a lower selling price after all. In addition, the relationship with Twitter management has continued to deteriorate. On Monday, Musk tweeted a poo emoji to Twitter CEO Parag Agrawal. He was responding to a lengthy thread in which the CEO explained the company’s policy on spam accounts. [Mehr bei The Guardian]

Star-Investor Michael Burry has used the correction on the US stock market to reposition its portfolio. So he rose for a total of 165 million US dollars at the Google mother Alphabetthe Facebook mother Meta and eight other shares. This is shown by documents that his hedge fund had to submit to the US Securities and Exchange Commission. Also, Burry bets against Apple. With the iPhone manufacturer, he is counting on falling prices. [Mehr bei CNBC und Handelsblatt]

Rivian Automotive is suing a major seat supplier, warning that a price war could jeopardize the production of one Amazon ordered electric vans could affect. At the same time, it was revealed that founder and CEO RJ Scaringe bought 41,000 shares of the electric vehicle startup, valued at about $1 million. [Mehr bei Wall Street Journal und Techcrunch]

Celsius Mining, a bitcoin mining subsidiary of London-based crypto-financial services firm Celsius Network, announced Monday that it has applied for a public listing in private. A spokesman declined to comment on whether the listing will be an IPO or a direct listing. The move comes as a surprise after it follows a sell-off in tech stocks as well as a market downturn in cryptocurrencies. Bitcoin’s price has slipped below $30,000 in the past few days. [Mehr bei The Information]

Microsoft raises the remuneration of its employees, as CEO Satya Nadella announced internally on Monday. Nadella justified the salary increases with the tight labor market and rising inflation. Also the Google mother Alphabet had recently announced higher wages while Amazon announced that it would more than double the maximum base salary for employees. [Mehr bei CNBC]

Our reading tip on Gründerszene: DHL – on the show could Aivy win two lions for his application app. But the deal later fell through. We found out why there was Zoff. [Mehr bei Gründerszene]

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Your Gründerszene editors

Source: https://www.businessinsider.de/gruenderszene/business/flink-kauft-franzoesischen-rivalen-cajoo/

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