Amazon just made another big investment in food delivery
The shipping war between Amazon and Walmart is continuing to heat up.
On the heels of both retailers announcing their plans to launch next-day delivery services, Amazon reveals it has made another large investment in a U.K.-based food delivery service.
On Friday, Deliveroo announced the e-commerce giant is leading its new $575 million funding round alongside other investors, including T. Rowe Price and Fidelity Management.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 207.86 | +6.41 | +3.18% |
To date, the London-based delivery platform, which operates in 14 markets around the world, has raised more than $1.5 billion.
Company's CEO Will Shu said the round will help them grow its engineering team, expand its delivery reach to new markets and develop new products for its customers.
"Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-obsessed organization," Shu said in a statement.
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Deliveroo's major competitors include GrubHub, Door Dash and Uber Eats.
The news also comes a few days after Amazon's biggest competitor, Walmart, announced its plans to offer customers next-day delivery -- just weeks after Amazon did.
Amazon immediately responded with a snarky tweet reminding customers that it has been ahead of the delivery curve for quite some time now.
"Others are trying to up their fast shipping game. Fact is, Amazon customers in thousands of cities across 44 major metropolitan areas already have access to millions of items with free SAME DAY delivery," Amazon tweeted Tuesday afternoon. "Customers are smart – they know the difference."
Others are trying to up their fast shipping game. Fact is, Amazon customers in thousands of cities across 44 major metropolitan areas already have access to millions of items with free SAME DAY delivery. Customers are smart – they know the difference. pic.twitter.com/K89kUJ8Xnn
— Amazon News (@amazonnews) May 14, 2019
