Amazon invests in Deliveroo
Amazon is close to buying a stake in Britain's Deliveroo, according to Sky News. The online retail titan is reportedly in talks to invest hundreds of millions in the London-based food delivery app as part of a roughly $575 million (£459 million) fundraising effort. The deal would boost Deliveroo’s efforts to compete with rival Uber Eats, which just listed in New York. The move could also help Amazon push into the competitive European food and groceries business.
Launched in 2013, Deliveroo employs 15,000 riders in more than 100 towns and cities across Britain.
Uber goes public, Deliveroo marry retailing behemot. Food delivery industry is on fire!
The food delivery category is slightly unrecognisable and such investment can (is about to) catapult it to the next level.
I don't have to introduce Amazon so just a tiny reminder
Amazon is the world's largest internet business, with a market value of roughly $920bn.
Its diversification beyond retailing into the provision of a vast range of services has propelled it into the rarefied ranks of companies worth close to - and on brief occasions more than - $1trn. (source)