Amazon Invests $20M In Shanghai-Based Food Delivery Site Yummy77

TechCrunch

Amazon has poured $20 million in Yummy77 , a food delivery site based in Shanghai. Yummy77 confirmed the funding in a post on Weibo and said it will use the capital to expand into new markets and help Amazon’s China site expand its selection of goods.

According to TechNode (TechCrunch’s partner site in China), this marks the first time that Amazon has invested in a Chinese company after launching in the country a decade ago. Amazon said it will hold a minority stake in Yummy77, which will continue to operate independently instead of being folded into Amazon China.

The fact that Amazon’s first investment in China is a food delivery site is unsurprising when you consider how quickly the online grocery market is growing, especially in large cities like Shanghai and Beijing.

Major e-commerce companies like Alibaba Group’s Taobao and JD.com run their own specialty food sites, which, like…

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