Spain-based on-demand fulfilment platform Glovo predicts its worldwide 2019 sales will exceed EUR800 million, a rise of around 350% YoY as it expands its services to more markets and works with increasing numbers of partners. Co-founder Sacha Michaud, speaking on the sidelines of a conference in Spain, ruled out the possibility of an IPO in the short-term, claiming the recent EUR150 million fundraising round meant the business could expand organically for the time being. Michaud also discussed its physical store opened in Madrid last November and hinted that the model could be exported to the 22 international markets in which it currently operates.

Source: Expansion