Following an announcement this summer that it was consulting on pulling out of the market, Deliveroo is leaving the Netherlands.
Deliveroo said in a statement that achieving and sustaining a top-tier market position in the market would require a disproportionate amount of investment with highly uncertain long-term potential returns.
It said that the decision to end operations in the Netherlands reflected the company's disciplined focus on continuing to maximize returns on investment of resources while meeting existing profitability targets against a challenging economic backdrop.
Group annual GTV growth and gross profit margin will not be affected by the decision to end operations in the Netherlands.
The last day of delivery in the Netherlands will be November 30.
Compensation packages were agreed with employees during the consultation.
Eric French, its chief business officer for its international unit, said in a statement, "We want to thank all the riders and restaurant partners who have worked with Deliveroo in the Netherlands." The company has partnerships with some of the Netherland's best restaurants. Our employees have done a lot for the company, and we are thankful for that. We would like to thank the many riders who chose to work with us and we are happy to have agreed compensation packages for them and our employees.
Australia, Belgium, France, Hong Kong, Italy, Ireland, the Netherlands, Singapore, United Arab Emirates, Kuwait and the U.K. are some of the markets where Deliveroo will continue to operate after exiting the Netherlands.
Dutch app users in larger cities like Amsterdam have a number of rival options for ordering a hot meal or groceries via their phone, from on-demand delivery players like Flink and Gorillas.
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