Amazon the online giant has announced about investing a big amount in food courier Deliveroo. The exact amount of the investment was not given but it is confirmed that Amazon is the biggest investor of in Deliveroo’s. Some US investors also helped to contribute to raising the fund.
The amount of capital invested in Deliveroo since it was founded in 2013 now it is a total of more than $1.5bn and the firm is one of Europe’s fastest growing technology companies.
Deliveroo founder and chief executive Will Shu told that he was actually looking forward to working with “such a customer-obsessed organization” as Amazon.
Amaazon said it was attracted because of their “innovative technology service”.
Louise Dudley the fund manager at investment firm Hermes, told the BBC’s Today program that “They (Amazon) weren’t able to compete within the market so they’ve gone for the buying option instead. They’ve got the money behind them to do that.”
He also added that “It (Deliveroo) is not just a food delivery company it’s very much a tech company. They have this tech platform that is seen is very attractive. They are able to expand into new areas and think about how people’s tastes are evolving and be able to predict what stores will be successful. That predictive growth is very attractive to Amazon”.
Deliveroo now operates in more than 100 towns and cities across the UK.