Competition in delivery services is fierce.
Consolidation is in progress.
Now the next provider is bankrupt.
The young company was still optimistic two weeks ago.
What happened?
Berlin – Just two weeks ago, the Berlin start-up Yababa was doing well, but now an investment of ten million euros has failed and the company surprisingly has to file for bankruptcy.
The young company was only founded at the end of 2021.
But since then, the delivery service market has changed drastically.
The high inflation and the war change the situation.
Yababa bankruptcy: start-up for the Arab community
Yababa actually started out as a delivery service specifically for the Turkish and Arabic community in Berlin.
"We deliver products from Turkey, Lebanon, Syria, Morocco, Tunisia, Algeria and Libya to your home!" This is what the company advertises on its website.
The delivery service had actually hoped to have found a niche in the market.
With the sudden withdrawal of investors at the end of January, however, the dream has now burst.
Yababa bankruptcy: Money is no longer so easy for investors
As reported by the magazine
Gründerszene
, Yababa had requested an investment of ten million euros to keep the company running.
In view of the new economic situation, however, the money is no longer so easy - and the deal fell through.
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A German delivery service suddenly went bankrupt and files for bankruptcy.
© Sebastian Gollnow/dpa
Start-ups experienced a boom during the pandemic.
They benefited from the fact that money was cheap and digitization was given a boost - for example in financial transactions, online shopping or food deliveries.
But the boom was followed by the crisis: the valuations of start-ups collapsed, many such as the e-scooter provider Tier or the real estate company McMakler cut jobs.
Others, like the Gorillas delivery service, were taken over.
In particular, the injections of money into hip start-up areas such as finance and online trading collapsed.
According to a new study, the consulting company EY comes to this conclusion.
"There should still be surprises this year, since some start-ups are not fully financed," says Christian Nagel, co-founder of the venture capitalist Earlybird, the dpa news agency.
“We will probably see more layoffs, restructuring and bankruptcies.” The Corona winners, such as delivery services, are particularly under pressure.
"They have to prove that their business models hold up in tough competition."
Yababa was about to break even - and had to give up
As
Gründerszene
reports, the Yababa company with its narrow target group was on the verge of breaking even.
The company expected to become profitable for the first time in May.
But now it is questionable whether the company can continue to exist at all.
New owners are being sought, but the insolvency money is intended to keep operations running for the next three months.
However, it is unclear what will happen after that.
List of rubrics: © Sebastian Gollnow/dpa
