New Spanish Government Signals Trouble for Tech Unicorns
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Spain’s two largest startups, both eyeing initial public offerings, are bracing for the arrival of an anti-establishment party in the next government.
Ride-hailing service Cabify and food delivery service Glovo have grown with the gig economy, a favorite punching bag for Podemos, which could be the junior partner in Spain’s next administration. Both companies are concerned about what the make-up of the government could mean for their businesses, according to people familiar with the matter.