Amazon takes stake in Deliveroo as it challenges Uber in food delivery GlobeTechnology
The online giants are betting the take-away market will expand as it branches out from fast, unhealthy meals to nutritious dishes, and that they have the scale to beat smaller rivals which have to sacrifice profits in the race to grow.Deliveroo founder and CEO Will Shu said the fundraising would enable the loss-making group to increase its reach, develop technology and pursue innovations such as expanding its own kitchens that can be rented to restaurants to meet demand.
Its “Frank” algorithm is designed to link the best restaurants and riders with the customer, based on their location. In Britain, Deliveroo is locked in a battle with Uber Eats and the online platform Just Eat and its riders are a common sight carrying delivery boxes emblazoned with its kangaroo logo.
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