Amazon's Deliveroo investment attracts competition scrutiny

An investment in food delivery app Deliveroo by Amazon, worth hundreds of millions of pounds, could be blocked by the competition regulator.

The Competition and Markets Authority said it was looking into any potential breaches of competition rules arising from a fund-raising - firstThen, UK-based Deliveroo sought £450m from investors to fund its expansion plans as it battles rivals, including Uber Eats and Just Eat, for market share in the fast-growing restaurant delivery sector.

The exact sum of Amazon's investment, which gave it a stake in Deliveroo for the first time, was not disclosed. Existing investors T Rowe Price, Fidelity Management and Research Company, and Greenoaks also took part.The company said the latest funding - valuing Deliveroo at around £3bn - would enable investment in its London-based tech team, expansion to reach new customers and development of its delivery-only super kitchens, Editions.More from Business

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Amazon Alexa 'keeps recordings of your voice forever' – and shares them with other companies tooAMAZON has admitted that Alexa speakers hold on to recordings of your voice forever – with no expiration date. It comes as privacy fears grow around so-called “smart” speakers like the … Oh well I’m in trouble then 😂
Source: TheSun - 🏆 64. / 61 Read more »