Tuesday, May 20, 2014

Amazon Backs Food Delivery Service Yummy77

Seattle-based Amazon.com has backed a Chinese food delivery service, Yummy77, to the tune of $20M, as the company has increasingly been looking towards an expansion into grocery delivery. Yummy77 offers up food delivery in Shanghai. The investment gives Amazon.com a minority stake in Yummy77, which launched last year. Amazon has been dabbling in grocery delivery domestically, with its service, Amazon Fresh.