According to the Security Service of Ukraine (SBU), this marks the first time Ukrainian authorities have exposed a Hungarian military intelligence network conducting activities harmful to Ukraine.
Delegations from 35 countries and the Council of Europe gathered in Lviv as EU officials prepare to approve both new defense aid and steps toward establishing a tribunal for Russian leadership.
The ruling marks a significant victory for RFE/RL amid growing concerns about U.S. funding cuts to independent media countering Russian disinformation.
U.S. Cardinal Robert Prevost was elected the new pope and leader of the Roman Catholic Church on Thursday, taking the name Pope Leo XIV, a senior cardinal announced on May 8 to crowds gathered in St. Peter’s Square, according to Vatican News.
George Simion, leader of Romania's far-right AUR party, who won the first round of the presidential election with nearly 40% of the vote, reiterated that if elected, he would oppose any further assistance to Ukraine and shift Romania’s focus inward.
Russian President Vladimir Putin and Chinese President Xi Jinping hailed their countries' relationship on May 8, vowing to increase cooperation in all areas, including military ties.
"There is Turkey, which maintains channels of communication. And then, above all, there is the People's Republic of China, which, more than anyone else, has the means to make (Russian President Vladimir) Putin come to the negotiating table and soften his demands," Polish Foreign Minister Radoslaw Sikorski said on May 8.
The United States will be ready to "walk away" from the negotiating table if it does not see Russia making progress in negotiation to end the war, U.S. Vice President JD Vance told Fox News on May 8.
Slovak Prime Minister Robert Fico arrived in Moscow on May 9 to celebrate Victory Day, commemorating the 80th anniversary of the defeat of Nazi Germany in World War II.
US President Donald Trump on May 8 called for a "30-day unconditional ceasefire" between Ukraine and Russia. Writing on Truth Social, Trump expressed his hope for "an acceptable ceasefire," with both countries "held accountable for respecting the sanctity of... direct negotiations."
President Volodymyr Zelensky had a "constructive" phone call with United States President Donald Trump on May 8, discussing the war, continued pressure on Russia, and a potential ceasefire.
The survey, conducted between April 24 and May 4, shows that 56.9% of respondents would not be willing to compromise on either territorial integrity or Ukraine’s pro-Western direction in any potential talks with Moscow.
A shopper working for Zakaz.ua puts together a grocery order in a supermarket in Kyiv. The order will then be packed and delivered to the clientю (Photo: Zakaz.ua)
Spanish food delivery service Glovo has signed an acquisition deal with the Ukraine-based grocery delivery service Zakaz.ua, Ukrainian tech media Ain.ua reported on Jan. 21.
The companies didn't disclose the acquisition cost, but according to experts' estimates, the negotiations could have started at $15-20 million and shouldn't have exceeded $50 million.
According to Ain, Glovo paid owners of the Ukrainian startup in shares and cash. Zakaz.ua's main shareholder Chernovetskyi Investment Group (CIG), reportedly, got 20% in cash and 80% in shares.
CIG is owned by Stepan Chernovetskyi, a Ukrainian investor best known for being the son of infamous former Kyiv Mayor Leonid Chernovetskyi, alleged by Ukraine's Security Service of abuse of office. Leonid Chernovetskyi allegedly resides in Georgia.
Since 2010, CIG poured nearly $15 million in Zakaz.ua, according to Ain.
For the Spanish tech giant with over $1,2 billion in funding, Zakaz.ua is a small deal. Zakaz.ua delivers food from supermarkets in Ukraine, Moldova and Uzbekistan, while Glovo operates in nearly 25 countries.
According to Chernovetskyi, Zakaz.ua was expected to receive nearly $130 million in revenue in 2021. The same year, Glovo earned over $900 million. In January 2022, German firm Delivery Hero acquired 80% of Glovo's shares valuing the company at $2,6 billion.
Despite high revenue, both Zakaz.ua and Glovo aren't profitable businesses. Oleksandr Matsuk, senior investment associate at SocialTech, told Forbes Ukraine that Glovo losses over $40 million a month. Both companies are private and don't publish financial results.
It's not unusual in the food delivery industry for companies to attract investments while losing money. Popular services like Glovo, DoorDash, GrubHub and Uber Eats attract billions of dollars from investors without making profit.
Food delivery services spend money on advertising, couriers' salaries, refunds to customers and logistics, ending up receiving only 2,5% of a customer’s overall bill, according to a Deutsche Bank analysis.
The only way they can survive the growing competition is by increasing the number of deliveries per day. The reason behind Glovo's success is the ability to rapidly expand into new markets, because of the support from big investors.
Ukrainian Zakaz.ua couldn't repeat this success. The small startup was created 10 years ago by Ukrainian tech entrepreneur Yegor Anchishkin, who left the company after it failed to enter the U.S. market.
It's not the first acquisition by Glovo.
Glovo started to acquire small delivery businesses in May 2021. Among the first purchases were local Spanish delivery Lola Market and Portuguese Mercadão.
By swallowing small companies, Glovo strengthened its position on the market and dived into the new business niche – the launch of the so-called dark stores, warehouses, or kitchens owned by delivery services that aim to replace the delivery from traditional groceries and cafes.
Daryna Antoniuk is a tech reporter at the Kyiv Independent. She worked in the same role at the Kyiv Post and has focused on Ukrainian startups, investment and the fintech market. Antoniuk previously was a tech reporter for Forbes Ukraine. Her work has also been published at Sifted and The Record. She graduated from Taras Shevchenko National University in Kyiv with BA in journalism and communications.
