This guy can’t wait to get his massive bonus. It’s coming, right guys? Guys?
‘IF YOU CAN’T beat them, buy them’ has been a fairly safe philosophy in the world of tech companies, and it looks like Amazon is embracing that philosophy. Having tried and failed to make Amazon Restaurants a thing back in 2016, it is now whacking millions of dollars into Deliveroo, which should at least get it a free bag of prawn crackers.
Sky News reports that Amazon made two failed attempts to buy the company outright, too. Boy, Bezos must really have the munchies: get that man a pizza, stat.
The whole funding round comes to $575m, and although Amazon is the company Deliveroo displays proudly at the top of its press release, T Rowe Price, Fidelity Management and Research Company, and Greenoaks have also stumped up some of the cash as well. Just clearly not enough to get top billing.
Never mind the fact that Jeff Bezos could probably have found the $575m himself by lifting a couple of sofa cushions, it’s still a big deal and takes Deliveroo’s total raised capital to $1.53bn.
So what are they going to do with the money? Well, of course they’re going to pay their riders more. Kidding! They’re going to invest in the engineering team, expand delivery reach and develop new products like its delivery-only kitchens. At the moment the company operates in 500 towns and cities in 14 countries, and you imagine the powers that be would very much like to grow that number further.
“Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-obsessed organisation,” said Deliveroo co-founder and CEO Will Shu.
“Amazon has been an inspiration to me personally and to the company, and we look forward to working with such a customer-obsessed organisation.”
Hmm: “customer-obsessed”. We’re not sure that’s a phrase we’d like to see in our obituaries, but it’s a compliment of sorts. µ
Source : Inquirer