Amazon Leads $575 Mln Investment Into Deliveroo

20-May-2019 - USA

Amazon Inc. (AMZN) is leading a new $575 million investment in British food delivery company Deliveroo, intensifying the e-commerce giant's competition with rival Uber and its Uber Eats service.

Deliveroo noted that Amazon is set to be the largest investor in the Series G preferred shared funding round. Amazon is investing alongside existing investors in Deliveroo, such as T. Rowe Price, Fidelity Management and Research Company, and Greenoaks.

With the latest funding round, Deliveroo has raised $1.53 billion. The new investment will be completed in the coming months.

In last September, the Telegraph newspaper had reported about Amazon's two preliminary exploratory approaches towards Deliveroo.

Deliveroo is a food delivery service founded in 2013 by William Shu and Greg Orlowski. The company works with more than 80,000 restaurants and takeaways, as well as 60,000 riders to deliver food.

Deliveroo is headquartered in London and has 2,500 employees in offices around the globe. The company's main competitors in the UK are Uber Eats and Just Eat.

Deliveroo operates across 14 markets, including Australia, Belgium, France, Germany, Hong Kong, Italy, Ireland, the Netherlands, Singapore, Spain, Taiwan, United Arab Emirates, Kuwait and the United Kingdom.

Deliveroo said that it will use the new funding to grow its engineering team based in its London headquarters, expand its delivery reach, and bring new innovations in the food sector, through its delivery-only super kitchens 'Editions.'

Will Shu, founder and CEO of Deliveroo, said, "This new investment will help Deliveroo to grow and to offer customers even more choice, tailored to their personal tastes, offer restaurants greater opportunities to grow and expand their businesses, and to create more flexible, well-paid work for riders." (dpa)

https://www.yumda.com/en/news/1161102/amazon-leads-575-mln-investment-into-deliveroo.html