Monday, 20 May 2019 10:40

Amazon leads US$575m Deliveroo financing round Featured

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Online giant Amazon is leading a new US$575 million Series G preferred shared funding round in food delivery service Deliveroo, as the company embarks on further expansion of its services worldwide.

Headquartered in London and founded by William Shu and Greg Orlowski in 2013, Deliveroo already claims it works with more than 80,000 “best-loved” restaurants and takeaways globally, as well as 60,000 riders.

This latest funding round will take the total Deliveroo has raised to date to US$1.53 billion.

Alongside Amazon, existing investors include T. Rowe Price, Fidelity Management and Research Company, and Greenoaks.

The company says the new investment will contribute to:

  • Growing engineering team based in its London headquarters, creating more high-skilled jobs and building on London’s growing reputation as a tech hub;
  • Expanding Deliveroo’s delivery reach in order to continue offering its service to new customers;
  • New innovations in the food sector, for example through delivery-only super kitchens “Editions”, as well as new formats that will help restaurants expand to new areas at a lower cost and lower risk, bringing more choice to local neighbourhoods; and
  • Development of new products for customers to offer a more personalised experience, increased support for restaurant partners, and new tools to offer riders flexible and well-paid work.

Chief executive Shu said: “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.

“Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-obsessed organisation.

“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.”

“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,” said Doug Gurr, Amazon UK Country manager.

“Will and his team have built an innovative technology and service, and we’re excited to see what they do next.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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