Since its acquisition by Delivery Hero in July 2022, Glovo has faced significant regulatory pressure and financial problems. While Delivery Hero has lost more than half of its market value, Glovo is also facing millions of dollars in fines and a Europe-wide antitrust investigation.
Glovo has faced multiple sanctions for labour violations, including fines of up to €79 million, and Delivery Hero, Glovo's owner, has seen its market value fall, putting pressure on shareholders.
Moreover, the European Commission has launched an investigation into Glovo and Delivery Hero for allegedly forming a cartel in the food delivery sector.
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