By Jonathan Lewy
In early 2019, Grow announced the first technology merger in Latin America – a major milestone for our region led by two homegrown champions (Grin + Yellow). Over the past year, we leveraged our combined position in Mexico and Brazil to expand across Latin America, providing more than 20 million trips across seven countries. Places where we have collaborated with local partners to transform the mobility ecosystem and accelerate our region’s burgeoning digital economy.
Together, we have worked hard, moved fast and learned many lessons along the way. One thing that is particularly clear is that micromobility is still at the early stages of its life and it is a challenging business that requires the right combination of scale and precise execution.
As we look at our current footprint and the operating needs in each of our cities, we have made the decision to restructure Grow. As a result we are shutting down 9 regions in Brazil and reducing our team by approximately 25% across the region, mostly in Brazil and Mexico where most of the employees are concentrated. We will consolidate our efforts to focus on serving users in Mexico City, Guadalajara, Zapopan, Bogotá, Medellín, Lima, Santiago, Buenos Aires, Montevideo, São Paulo, Rio de Janeiro and Curitiba.
While we are disappointed, we remain optimistic about the opportunities for Latin America’s digital economy, including micromobility, on-demand services and financial services. We believe that Grow has been a major catalyst for turning these opportunities into realities and changing perceptions of what is possible for millions of users across the region. We are grateful for the role our riders and our communities have enabled us to play and for our incredible team members who built Grow with us.
We would also like to thank our local partners in each of the cities where we will no longer operate. We are inspired by many of the people we’ve met and partnered with who share our vision for digital transformation in the region. We hope that our Grow community will continue to support and be part of the digital innovation happening across Latin America and the benefits it can bring to the cities we love.