πŸ‡ΊπŸ‡Έ

Amazon takes on Uber Eats with Deliveroo deal

Credit: Reuters Studio
Published 2 days ago - Duration: 01:10s

Amazon takes on Uber Eats with Deliveroo deal

Amazon is the leading investor in a new round of funding for UK-based delivery service Deliveroo, setting up a battle with Uber Eats.

Julian Satterthwaite reports.

Advertisement

Amazon takes on Uber Eats with Deliveroo deal

Amazon is riding into battle against Uber Eats.

The online giant is the lead investor in a new fund-raising round for Deliveroo.

575 million dollars raised in all for the UK-based food delivery service.

It competes directly with Uber's own takeaway delivery app.

Deliveroo has 60,000 riders delivering meals from 80,000 restaurants in 14 countries.

The latest funding round means it has raised just over 1.5 billion dollars in total.

As for Amazon, the deal shows it's still thinking about how to muscle in on food delivery.

A previous attempt to run its own service in the UK failed.

Now it's able to leverage the expertise of an established player.

Deliveroo plans to use the money to expand its reach and develop its technology.

The firm also intends to open its own kitchens, which will be rented to restaurants to meet demand.

And backing from Amazon will alarm competitors.

Shares in smaller rival Just East dropped as much as ten percent Friday (May 17) following the news.

You are here

Recent related videos from verified sources

Challenging Food Delivery Services, Amazon Makes Major Investment in Deliveroo 01:48
Credit: Cheddar Inc. - Published 1 day ago 

Uber's CEO Is Optimistic About Eats Growth 00:47
Credit: Wochit Business - Published 6 days ago 

Jimmy Johns Exec: Third Party Delivery Services 'Aren't Up To Our Standards' 01:57
Credit: Cheddar Inc. - Published on April 3, 2019 

Mexico's Bank Created A New Mobile Payment System 00:32
Credit: Wochit News - Published on March 23, 2019 

You might like