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Investing.com -- Amazon.com Inc. has acquired a stake in Colombian delivery company Rappi Inc., forming a strategic partnership that combines Amazon’s retail and technology infrastructure with one of Latin America’s leading last-mile delivery networks.
The initial investment comes in the form of a $25 million convertible note, according to a report from Bloomberg News, citing a person familiar with the transaction who requested anonymity because the deal’s terms were confidential. While this amount is relatively small for Amazon, the agreement includes warrants that could allow the Seattle-based e-commerce giant to purchase up to 12% of Rappi if certain milestones are met, though these terms could potentially change.
This partnership could strengthen Amazon’s competitive position against MercadoLibre Inc., a major e-commerce player in Latin America, by providing access to Rappi’s extensive logistics network across the region.
For Rappi, the deal represents an endorsement from North America’s largest online retailer and creates opportunities to leverage Amazon’s advanced logistics systems and cloud-computing capabilities.
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