Business, Investments

Amazon drops USD 20 million in Chinese Online Food Vendor Yummy 77

Amazon has invested USD 20 million in Shanghai-based online food providing company Yummy 77, reported CNET. The funds will help Yummy 77 to extend its operation network and enrich product categories.

After the funding, the company will continue its independent operation while Amazon will hold a minority stake.

Yummy was co-founded in Feb. 2013, as an online food delivery site. It offers consumers fresh food products such as eggs, dairy products, meat, fresh seafood, seasonal fruits etc. across China.

At present, the company claims to have 1 million registered users and has exceeded its sales around USD 16 million. in Dec. 2013.

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Amazon has entered into The US online food market with ‘Amazon Fresh’ in 2007. A fresh groceries deliver service, Amazon Fresh offers more than 50,000 different items with the facility of free same-day delivery. It also offers a range of services like Prime Pantry, a dry goods items delivery service.

Apart from this, the company has also launched Amazon Web Services, named as  Aliyun and Kindle Devices in Chinese market last year.

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