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Amazon’s investment into food delivery startup Deliveroo is in jeopardy after a U.K. regulator ordered the duo to put their deal on hold while it decides whether to investigate further. The Competition and Markets Authority (CMA) issued an initial enforcement order on Friday over fears that the two companies have “ceased to be distinct” following a $575 million funding round into Deliveroo in May, which was led by Amazon.
The probe from the CMA is somewhat unusual given Amazon is only a minority shareholder in Deliveroo, which was last valued at $2 billion in 2017 when it raised a $482 million round.
However, the CMA said it has “reasonable grounds” to believe the two companies are no longer distinct. It declined to specify what these “reasonable grounds” are but they’re likely based on public information about the deal, as well as information it has received privately from Amazon and Deliveroo.
The CMA said it is also concerned that the two companies could merge at some point in the future. Closer cooperation between the two companies could see Deliveroo customers placing orders via Amazon Alexa or a takeover would give the Seattle-based giant a second try at the food delivery business after it scrapped its rival service Amazon Restaurants in June.
Founded in 2013 by former Morgan Stanley investment banker Will Shu and software engineer Greg Orlowski, Deliveroo has scaled its business at a rapid pace; the company now operates in 500 towns and cities in 14 countries around the world. It relies on an army of 60,000 riders to transport food from 80,000 restaurants to people's homes and offices.
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