Amazon.com, Inc. (AMZN) reportedly invested $20 million in Yummy77
Amazon.com, Inc. (NASDAQ:AMZN) has reportedly invested in an online company that offers fresh food to customers in China. Amazon will be investing $20 million into Yummy77 for a minority stake, according to TechNode.
Yummy77 will remain independent and will be allowed to operate as it is. Yummy77 launched last year and sells seasonally fresh products for order online. Yummy77 ships products like seafood, meat, and dairy products across China. This is the first time that Amazon invested in a Chinese company.
Amazon runs its own food shipping service called AmazonFresh, which offers groceries and more than 500,000 different products for free same-day delivery. Amazon also runs Prime Pantry, a dry goods grocery delivery service. It is unknown whether Amazon’s investment will include additional technology or help from Yummy77 to expand AmazonFresh.