The Berlin electronics rental company Grover had to lay off employees. The company confirmed this to the Tagesspiegel. Grover only raised 270 million euros from investors in September. The company is considered a “unicorn”, meaning it has a valuation of more than one billion euros. First, “Gründerszene” reported on the layoffs.
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A Grover spokeswoman said “limited job cuts” had taken place, but gave no numbers. The reason is a “reorientation”. The company has grown strongly in recent years, but now wants to generate profits as quickly as possible.
Profits are to be achieved as early as 2023
A “restructuring” has therefore become necessary in departments that were previously primarily geared towards growth. “With the measures, Grover sees himself in a very stable position to expand the business profitably in 2023,” it said.
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Grover rents out products such as smartphones, game consoles and drones. The company is active in Germany, Austria, the Netherlands, Spain and the USA. It competes with providers like Utiluru and Gearflix, as well as smaller retailers using the Topi platform.
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