In June 2022, on-demand grocery delivery startup JOKR announced its exit from the U.S. market, ceasing operations in New York and Boston to concentrate on Latin America. This strategic shift resulted in layoffs affecting approximately 50 employees from its 950-person office staff, representing about 5% of its workforce. The company stated that the U.S. market had only contributed around 5% of its business, deeming it a differently structured opportunity compared to the vast potential in Latin America's $1.2 trillion retail market. JOKR, which had achieved unicorn status with a $1.2 billion valuation, decided to reallocate investments to expand its footprint and service offerings in Latin America, where online grocery penetration was still below 10%. The closure involved nine micro-fulfillment centers in the U.S. out of its global network of roughly 200.
