After Germany’s rapid food delivery startup Gorillas Technologies GmbH closed a $1 billion funding round last October, the company launched its own record label and started plotting a move to a lavish office complete with vinyl decks and a mixer.
By the time it moved to a former brewery in Berlin’s chic Prenzlauer Berg neighborhood this week, just two years after it was founded, venture funding for tech startups globally had dried up and Gorillas management was focused on cost-cutting.
