Investment

Amazon invests $575 million in Deliveroo

Deliveroo/Bloomberg

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The London-based start-up, which has raised $1.53 billion to date, will use the cash infusion to expand its technology team and network as well as compete against the likes of Just Eat and Uber.

Sunday 19, May 2019

(Bloomberg) --Amazon.com is leading a $575 million investment in Deliveroo, buying a stake of the fast-growing start-up and pitting it directly against Uber Technologies in a fiercely competitive European food delivery industry.

Consolidation has been heating up in the food delivery sector.

Deliveroo rival Takeaway.com agreed to acquire the German businesses of Delivery Hero for approximately EUR 930 million ($1 billion) in December, while Uber was in early talks to buy Deliveroo.

The UK food delivery marketplace, Deliveroo’s home market, is arguably the most competitive.

TAGS : Deliveroo, Amazon.com, Takeaway.com, Uber Technologies

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