Amazon launched its own food delivery service in London a little while ago. But that, of course, didn’t go too well. The food delivery market in the UK — especially in London, is very, very competitive. With companies like Uber Eats, Deliveroo, and Just Eat operating in London, there really isn’t much space for anyone else.
And so, instead of continuing with its own efforts, Amazon is eating into the existing market leaders. According to Sky News, the online retailer tried to acquire Deliveroo twice, and after failed attempts, it’s simply settling by investing in the company instead.
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Deliveroo announced today that Amazon has made a huge investment on the company, leading a $575 million funding round with some other investors. Both the companies won’t share exactly how much Amazon is investing, but it’s likely contributed a lot to be the lead investor in the funding series.
Deliveroo says the company wants to use the new funding to expand its service to more areas, and launch new products for a more personalised experience. It also plans to work on new tools for its riders for flexible and well-paid work, something it’s faced a lot of criticism for in the past.