YouSaid · the spoken record

Oscar Pierre

lines on the record: 93
first: 2025-02-26
most recent: 2025-02-26
sittings or episodes: 1
sources: podcast

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“Or I would say all the European BCs, or most of them, passed on us. Nobody believed in our story, you know, a bunch of kids from Barcelona, BTI think the Liberos and the oberage of the world. I remember the series B. It was like 25 million. We were going to die. So we unlocked the biggest deal of all history food delivery, which was, and that was a huge inflection point.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Those lines, I guess what feels really exciting is how terrible jobs will disappear very soon. So those jobs that nobody wants to do, like in hospitality or cleaning, or all of this will get robotized. If you think about the world where nobody has to do shitty jobs, that's a much better world.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Brandon and investor in the What I suffered the most was when the culture started softening a lot. So, what I would tell the Oscar of the beginning is keep speaking with full transparency all the time. Doesn't matter how many people I have in front. And doesn't matter if a fraction of them get upset.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Think Vinted. I think about Vinted a lot, yeah. Because I like big consumer platforms, and of course I like the impact they have.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“I think it helped me in having irrational ambition and taking a lot of risks to the point that we almost shut down the company three times because I was always pushing to the limit so much because back to your point I guess that I wasn't that scared about death. No, I didn't have kids. I didn't have a house for the first four years I was living with my parents. So I was like, look, I mean, I would be terribly sad, but my life didn't depend on it.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Look, I was lucky that my parents had money. We've never lacked anything at home. But at the same time, I saw my father working until 2 a.m. every single day, every single day. And that, I think, marked me a lot. I think that's also the other very important reason to keep working. It's really important that your kids see you suffering every day, or not every day, but.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“What I loved about here is she always told me, Hey Oscar, because you know, most of the conversations with her were around fundraising. And she was always like, hey, look, I know that if you don't call me, is that you don't have news? While most of the other investors were like, how is the termship going? Have you received the terms sheet? Are they signing it? How did that? No, so this just added so much pressure because they were suffering also. And Bea knew that the moment I had good news, I would call her immediately. So I appreciated a lot.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“I'd say Portugal, but we're gonna get there in a year. Uberit is still ahead because we launched too late, but we're gonna get there.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Like what we compete against them in five six markets, in some we beat them, in some we don't, but it's always a very nice battle. And they do things as we like. They do things with high standards.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“I think we're building a platform that most people think of it as only food delivery. And I see it as the future of online commerce. When people have this first experience of ordering a MacBook charger and getting it in 30 minutes and repeating, I think that's going to be the future. So everything will be on demand and everything will be delivered in 30 minutes.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“You sustain a hard working culture, you will keep finding the talent is there. I mean, you don't need to convince a million people. That's why I told the team when they told me no, because now younger talent, they want more work-life balance. I'm like, look, I only need a thousand. I don't need to convince the entire young community. I just need a thousand people that want to work hard and you will find them”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“I strongly disagree. Look, I think from Barcelona, where there was a very small ecosystem of tech and tech talent, we were able to build top-notch technology. I don't think our technology had anything to envy our American competitors. So I fully disagree. I wish somebody had told me to have more ambition when I started. At least for the first three, four years, I didn't fully believe I could do it. There were no big examples in Europe, or at least in Spain. So I wish somebody had told me. But at the end, we are as smart and we can work harder or as hard as in any other place.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Generally, I'm very optimistic in life, but I just don't see the incentives so that this trend changes. So in EU and regulations getting easier for the next wave of entrepreneurs, I'm not super optimistic.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“No, look, I think it's just that we were by far the largest one, the most visible one. And as it was very political, I guess the administration targeted first the larger one. And I guess they're going to go now after the second one. The timings are slow here, no? So there's going to be a time difference that reduces our advantage, maybe.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, it was big, yeah. It was big. And it also got a lot of noise in the media. And the worst thing, you know, now that they think there's a lot of discussions around bureaucracy in Europe as a barrier for entrepreneurs building great things, the watch thing is that we're not playing a fair game against our competitors. No, so for some reason we were the only company that the administration went against in Spain. And our competitors who are from the US, overreach, they're still not being accused. And also we're not only suffering from, I think, aggressive regulation, but we're not playing...”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Course, the gig economy needs more regulation, right? It's a reality that has grown everywhere in the world. And operating this business across 23 different markets with all governments realizing that they need to regulate it somehow, right? Because it's growing so much and so many people are working and generating revenues from it. It's been tough. It's been tough. We have to build public affairs teams in every single country, et cetera. And unfortunately, the country where we suffer from regulation the most is Spain. I'm not going to go into the details, but it's so extreme that I'm now in a criminal process. The General Attorney accused me with six years of prison for running with a freelancer's model, which is something that has been validated by judges in Spain up to 14 times. It has gotten really political, but the reality is that I'm there. I had to go declare three months ago. I think it's the only country in the world where a founder, a CEO of a digital platform has to be...”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“We have a very beautiful story with Mickey from Walt because we started the same month, almost the same month in 2014, end of 2014. And we sold like two months away. So our story is very, very parallel. And we always had conversations of teaming up and joining forces and building a very large European new delivery company, but our paths never joined. I think Mickey”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“They're not in marketplaces. You will not find them also in Zalando. Maybe a bit in Zalando, but they really want to control end-to-end their online experience. And the other one is Mercadona, which is the Walmart of Spain, 40% market share offline. And they also want to control end-to-end experience.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“In terms of merchandise, I think the number one I would like to have, or two Spanish ones. One is Inditex. So all the Zaras, et cetera, they still don't want to go into the quest”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“So it's more advertising product and more penetration. So we have around a fraction of all the merchants that we work with and all the groceries and brands that we work with using our advertising products. So it's a matter of penetration and also improving just the advertising engine.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“It's fascinating at space. And that's an area where I feel we just started. Believe in our business out of every 100 euros of GMV, we will be able to generate at least 5 euros of advertising money, which of course are almost full margin. We're now at two, we're halfway more or less between two and three. It makes so much sense, right? Because every time someone, a customer opens to Lovo, they open it with an intention of purchase. So for any brand, any restaurant, they want to be there, right? It's so efficient advertising, right? If you are, I don't know, a shampoo brand, you want to be there when the customer is searching for shampoo and you want to be in the first listing, right?”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“I want to operate businesses all my life, right? Or build things that I like and I enjoy. And every time I think about starting something new, I realize how cool it's Globo and the platform we're building, how much we're growing. I still see Globo being 10x bigger than today. We're at getting to 7 billion top line. I see so much potential. I think I see us as Amazon 20 years ago.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“As a first time founder, when I spoke to VCs back then, I thought I was having a one-on-one conversation. And in reality, it's like if you are broadcasting to the entire VC community. So the amount of chit-chatting that happens across all VCs, like they're talking all day, like they're sharing all the deals or sharing all the intel. So that's an advice for all founders, especially first-time founders. It's a very, very connected community. And anything you're saying to one, don't try to play games, assuming that conversations are confidential because they're not.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, in some way, I was already investing a lot as a business angel. I had done like four investments, and I loved spending time with entrepreneurs. It got too messy. Like as a business angel, it's really hard to keep things under control. So I just teamed up with Adam, which came from Atomico and gave them all my money that I wanted to invest in pre-seed. For me, it's like an important hobby. I spent a few hours with them every week and I like it a lot. I'm learning. But I also, back to your question, I realized that I don't want to be an investor full time. I really like operating businesses.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“It's something that I think about. On one end, I co founded a small VC in Europe called Yellow. So it's a 30 million fund we invest in young entrepreneurs.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“So, one thing I did was I started speaking with a lot of people that had done an exit. And I think one thing I realized very fast is a correlation between unhappiness and people that had stopped working. So those entrepreneurs that had made a big exit and moved into a wealth management lifestyle were then happiest. And that to me was very clear. Like what gives me a lot of happiness is going to the office every day, spending time with my team, cracking big problems. Of course, that's not all my life, right? I have a lot of life outside of work, but for me it's very clear I want to keep working until I die.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Was 31st of December. We had to do it in 2021. How did it feel? Good. I felt really good. I felt like part of the mission was completed, which was on one end, you know, returning the money. And on the other, making sure that Global would keep existing, keep delivering to customers, keep serving riders and restaurants.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“We were not profitable, we were already at 3 billion top line, and then we started looking for a sale. We talked to all the potential buyers and delivery hero by far was the best bidder, not only for my investors, but also for the team and for me. Basically, the Liberty Hero operating model is to empower local brands. They have Talabat in Middle East, which actually recently IPO and they have 80%. They have Pedidos Ya in South America. They have Globo now. So they have a bunch of amazing delivery brands. and they empower them with a lot of technology and with capital when we needed it. So this allowed us to keep operating and keep running the business. And it was a great deal for everyone.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“And we looked at each other and we were like, I can do another one. Emotionally, I can't. Because every single round was so stressful. And it was rational also not to do it because in every single round there were high chances of failing and having to shut down the company. So that's when we decided, hey, either we IPO or we sell and we started looking at both options, IPOing. We were still burning almost a million a year a day, a million a day.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“First of all, the little bit here invested in Global in Series B. It was part of those rounds that nobody wanted to invest. So we ended up taking the competitors' money we were competing against Delivery Hero in some markets. And Delivery Hero also did some investments and we agreed to take their money. Why did we decide to sell? Well, after the series, I think it was the series F, you know, that moment when you close the round, you go to the notary, you're so happy. But, you know, you go back to the office. As you look at the business plan and you're with your CFO with Edu and I was like, Edu, we need to start fundraising for the next one. We cannot wait much.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Honestly, no, and I don't think it was rational because, of course, that changes your life already by a lot. But I was just so convinced that what we had was working and we could expand to 20 more markets, which is what we've done.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“That's a massive opportunity. We know that when this 2% of online penetration turns into 20%, we can capture at least half of it.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“So, multi category is basically groceries, pharma, and then anything else. Anything else is any shop, electronics, flowers, retail in general, anything that can fit into a rider's backpack. That said, groceries is massive. Groceries is so big. Just going to Spain, for example, the groceries offline market is 120 billion, out of which only 2% is online. 2% of groceries industry is online. We're fully convinced that this 2% will turn into 20-30%. And the magic of it is that we don't see, like delivering groceries on demand with no mistakes, you need so much technology. And to make it profitable without overcharging the customer, you need so much technology that we now see all retailers, all grocers, they're relying on us to go into the online business.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“I think the answer to that is how time sensitive it is and when is your right to win so for example I know I can I can keep expanding now in Italy and Spain into other delivery services because we have already won the battles right we are already by far the largest delivery brand right so the opportunity of groceries or pharma where we're growing very fast is still there and we can crack it and we can invest massively now in 2025 the opportunity is still there If you go to Peru or you go to, I don't know, to Romania, it was an hour-never decision back in 2018 because you had to be the first mover, like getting there first and building the scale, it was an hour never, no? So now we know that, you know, our playbook basically is number one winning food delivery in restaurant delivery. And number two, expand multi-category. And we think the second will be much larger than the first. It's just a matter of the timing of...”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“No, no, it wasn't huge. It was also a lot of the focus. I also got really excited, right? Because it was like me going back to the beginnings and starting again. And I talked a lot about it to the company. So now I think about it. I'm like, man, you're so stupid. Our business is about focusing on the small details every single day and making the marketplace better every single day not about expanding to other things”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“So we bought a couple Instacart type of businesses, right? So large baskets, grocery marketplaces, one in Spain and one in Portugal, maybe like 5 million each, I don't remember.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“I did a lot of MA. I think entrepreneurs are by nature very optimistic. And you think only about the upsides, not like, well, I'm going to take this company, I'm just going to connect it to Globo. Eventually, we shut down everything. And my conclusion was I was just too optimistic about the upside, but not looking at how complex it is to integrate different tech stacks, different cultures, different teams. Of course, when you buy a company, that founder will most probably stop thinking about building and leave.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“So we unfortunately we've done a few layoffs. What I found is that people are a lot more mature than when you expect when you're planning the comms and all that. We've always put a lot of budget into it to treat people well. It's not only about the people that we will be leaving. They deserve it. It's not their fault that you have to lay off a big layoff. It's even more important for the people that stay because those people that you lay off are their friends and the way they exit the company is super important in the post-layoff era. I always pushed, you know, we always got the layoff proposal from the HR department. I always push for more. Let's give them more. It's for sure it's a good investment.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Look, I've had two stages at Globo. One was hyperscaling. As I said before, I think in hyperscaling, things can work with the CEO being a way fundraising because there's just so much energy into the business. And actually, that's what I had to do. I was all day fundraising. It was almost until six hours a day fundraising. And then I worked on the business. And then my new stage was when after acquisition of the Liberty Hero, which coincided when we started growing at 30% year on year. And when you're at this growth rates, which are good, but it's not hyperscale or hyper growth, that's when you need, you cannot sit back. You need to be injecting velocity and energy into what I said before, knowing to any single meeting where you go.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“I wouldn't point to a single thing, but it's just everywhere is when you recruit people in that interview, you have to be super transparent about what you expect in terms of working hard. And if you feel that he or she doesn't understand what working hard is, you explain it. It's like, hey, look, most of the days I'm here in the office until 8. You might have to do the same. And on weekends, I connect. The people you fire is another mega signal. And then in every single meeting, like I try, when I walk into a meeting, I try to remind myself, okay, my mission here is just to add more velocity and to raise the standards. Nothing that they will present is going to be fine. No, this is the mentality that any leader has to go into because if you go to the report and you see the manager, your leader is fine with everything you're presenting. I think it's just human nature that the next time you have to report, it's going to be a little less quality.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“I don't know. I think it's just human nature that if your leader is not on top of you raising the standards, pushing for faster deliveries.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Start from the top, start aligning the top leaders, firing those that were not aligned. Now you realize that some of them didn't want to go back to the globo of the beginnings and then start saying things as they are. No, I wrote a couple emails to the team that, you know, it was like the company was on fire for a few weeks because at the end, if you have 20% of the company that is really misaligned and it wasn't their fault, it was our fault because we just relaxed and all the messaging, the recruiting process, the onboarding process. Nobody told them that we wanted that type of work ethics and a hard working culture. So if all of a sudden the CEO goes out there and sends a message that, hey, we have to go back to the beginnings, this is how we like working, this is our culture. A lot of people didn't like it. And then even if it's a 10-20%, it's very loud, right? So you do get, it's not a week, it's a year.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Day I realized I was ruining the culture in a Christmas party of Globo. I was in a conversation with a few engineers. At that moment there was a company poaching a lot of our engineers. And that company, I'm not going to name who it is, but they work really hard there. Now they had a very hardworking culture. And I heard one engineer saying, yeah, I was also a poet, but I decided not to go there because they work really hard there. When I heard that, I was like, shit, like it's not only the intensity starts going down of the company, it's that you're losing the hardworking people to another company that is achieving to set and keep that intensity, right? So it's also a network effect that you need to keep working on.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“And long hours, and when you finish the call, you're going to get a message from someone, Hey, what you said, maybe it was a bit too aggressive. Certain people in my team, you know, didn't like it. And as a young founder, when I started getting those messages, I was like, oof, yeah, it's true. Maybe I was too aggressive. Maybe I should say things a bit nicer. And that was the beginning of, not the end because we have, you know, reconducted it.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“When you're hyperscaling, it's really easy to have a very aligned culture and everyone working super hard. Everybody is so stretched. Everyone's responsibilities is huge. And that challenge and that it just pushes everyone to work really hard. But it's inevitable but that one day your business starts growing at 30% year on year, right? And that coincided when we got to around a thousand people. And I think I ruined it because I started getting scared of some part of our team reacting to how I said certain things. And I started being a bit of a politician. So what do politicians do? They say things in a way that a very large percentage of the population will like it. It always gets to that first all hands or Zoom call where you say something, you're talking about values, you're talking about work ethics, you're talking about the importance of working really hard.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Something that I've pushed in my executive team every single year, right? So we block a few hours, we look at the values, and even though 12 months ago, we all agreed on every single word on how to define each one of the six values that we have. Every time we sit down and we look at them, we're like, this doesn't feel right anymore. We can improve it with this word or changing this or maybe adding a new value, right? We haven't changed the value so much, but we have proactively worked on them on a yearly basis. So that was really important. I think the problem was when we got to like a thousand employees, that's when we messed up the culture. That's when we, it was all my fault because...”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, the second was we were getting some scale, right? We were getting to 1 billion, 2 billion top line, but we were still really small against the big players. Now you looked at Uber, there were at least 15, 20 times bigger delivery hero, even Deliberu back then was a lot bigger than us. And when you lag this scale, you're still really exposed to them, right? Because they have so much scale that they can just go into your home market and destroy your business with maybe like 20, 30 million investment. So I think even though we were big, many investors, and I think rightly so, they didn't see us as big enough to fail.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Million a day. When we launched in Latam, we had a competitor there, very well funded, called RAPI. They were the best fundraisers. They raised from Sequoia from, I think, from DST, SoftBank. And it's crazy when we went there, we went from saying, hey, these guys are crazy. They're so irrational. Two, doing exactly what they were doing in a matter of three months. Big exclusivities are worth a lot.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, of course, because you saw one thing I did during seven years was checking how much catch we had in the bank for seven years, right? And it keeps going down every single day.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, it was really tough. I think shutting down things is a super important skill for a founder. At the end, it's an ego thing because you have to go against what you have previously told the board, the investors, the employees one year before launching Brazil, I was selling the Brazil dream. I was telling everyone, like, hey, this is going to be massive. And even when you launch and you start saying things not going super well, you have to keep selling it, right? Because you need to inject that energy into everyone. And one day you're like, you have to go out there and be like, hey, you know, everything that I told you, I was wrong. The toughest thing is the ego, when you have to take this decision. Apart from, of course, how tough it is to, you know, in Brazil probably we had 100 employees. We had to let them go. And they were doing things well. Just the market was too tough.”
2025-02-26 · The Twenty Minute VC · 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo · IDENTIFIED FROM THE TRANSCRIPT · source