FILE PHOTO: A food delivery cyclist wearing a Deliveroo bag in Nice, France, June 5, 2018. REUTERS/Eric Gaillard/File Photo
(Reuters) – Amazon.com Inc is in the call to invest hundreds of millions of pounds of BRITISH food delivery app Deliveroo as part of a $575 million fundraising, Sky News reported on Thursday, citing sources.
Deliveroo is probably the reveal of the deal in the coming days, Sky News said, citing sources.
If a deal is confirmed, Amazon is likely to invest a significant portion of the funds raised by Deliveroo in the gig-economy, Sky News said.
Amazon declined to comment on the Sky News report and Deliveroo was not immediately available for comment.
The Telegraph newspaper had reported in September last year that Amazon had two preliminary exploratory approach for Deliveroo.
Deliveroo is active in more than 100 cities and towns throughout the united kingdom, with more than 8,000 restaurants, according to the website of the company. According to the company, the algorithm is based on a “powerful predictive technology” to determine the most efficient way of distributing orders on the basis of the location of the restaurants, the riders and the customers.
The company says that the Editions platform helps restaurants expand into new areas, the identify of the kitchens that people want but are not available locally, and then invest in restaurants in these areas.
Reporting by Rishika Chatterjee in Bengaluru; Editing by Leslie Adler