Amazon led a $575 million financing round into Deliveroo, Uber Eats' arch rival in the UK.
ride-hailing giant went public and saw its stock plunge 8% on its first day of trading
The news sent shares down 7% in Just Eat, wiping more than £360 million off the market cap of the third major food-delivery company in the UK., potentially making the e-commerce giant one of the meal courier's largest investors. Deliveroo, which works with more than 80,000 restaurants and takeaways and 60,000 delivery riders, has raised just over $1.5 billion to date.
Amazon joined existing Deliveroo investors T Rowe Price, Fidelity, and Greenoaks Capital in the Series G funding round. Deliveroo plans to use the additional funds to hire more engineers at its London headquarters, expand into new areas to reach new customers, and ramp up"Editions" — its delivery-only super kitchens.
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