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Business May 17, 2019 2 mins read

Amazon leads $575 million investment round for Deliveroo

Business ı By Marivic Cabural Summers

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Amazon invests in Deliveroo

Amazon (NASDAQ: AMZN) is leading a $575 million funding round for Deliveroo, a food delivery company based in the United Kingdom.

Deliveroo’s existing investors including T. Rowe Price, Fidelity Management, and Greenoaks are also taking part in the funding round.

To date, the food delivery company raised $1.53 billion. It is planning to use the latest funding to expand service and engineering team at its headquarters in London.

Deliveroo said the investment will create more high-skilled jobs and enable it to continue offering its service to new customers. Additionally, it will allow the delivery company to develop new tools for riders with better pay.

Amazon serves as an inspiration to Deliveroo CEO

“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,” said Will Shu, founder and CEO of Deliveroo.

He added, "Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-obsessed organization. This is great news for the tech and restaurant sectors, and it will help to create jobs in all of the countries in which we operate."

On the other hand, Amazon UK country manager Doug Gurr, said, "We're impressed with Deliveroo's approach, and their dedication to providing customers with an ever increasing selection of great restaurants along with convenient delivery options. Will and his team have built an innovative technology and service, and we're excited to see what they do next."

Deliveroo has over 80,000 restaurant partners and 60,000 riders providing delivering food to customers. It operates in more than 500 towns and cities across 14 markets, including Australia, Belgium, France, Germany, Hong Kong, Italy, Ireland, Netherlands, Singapore, Spain, Taiwan, United Arab Emirates, Kuwait and the United Kingdom. It has 2,500 employees in offices around the globe.

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Marivic Cabural Summers

Marivic has been a freelance writer/journalist for nearly 20 years. She strictly adheres to the ethical standards in journalism. For her, integrity is everything. Readers deserve to know that real story. She previously worked as research analyst and editor at Lombardi Financial and has written for various websites including The Motley Fool, ValueWalk, IcannWiki and was a news writer/radio program producer at Nation Broadcasting Corporation. Marivic holds a BA in Mass Communications.

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