Amazon 61000 euros fine Delieroo case investigation delay - Amazon was fined £ 55,000 (around $ 72,364 and around € 61,000) on Monday for having taken too long to deliver documents related to the purchase of a stake in Deliveroo, the UK food delivery company.
The e-commerce giant bought a 16% stake in Deliveroo as part of its $ 575 million fundraising campaign in May 2019. At that time, the UK Competition Authority said that the agreement could harm competition, and launched an investigation.
The deal was finally approved in August, but the regulator, the competition and Markets Authority (CMA), just announced that Amazon had filed 189 documents after the initial deadline. This caused "unnecessary delays in the CMA's investigation," the regulator concludes, and Amazon had "no reasonable excuse" to justify the delay.
Amazon 61000 euros fine Delieroo case investigation delay
The CMA began its investigation in June 2019 after rival services, including Domino's Pizza, lobbied against the deal, arguing that other delivery companies could not compete. Both Amazon and Deliveroo refuted these claims.
Considered a top rival of Uber Eats, Deliveroo delivers restaurant food, but expanded its operations during the pandemic to include supermarkets. The company now has around 100,000 associated restaurants across Europe, Australia and parts of Asia, and its app has been downloaded nearly 10 million times.
It was founded in London in 2013 by former banker Will Shu.
It is not known what part of the $ 575 million raised in 2019 came from Amazon. An Amazon spokesman told Business Insider at the time that its investment would bring new products to consumers, create more highly skilled jobs and help Deliveroo remain " competitive in the restaurant food delivery space."
End of Amazon 61000 euros fine Delieroo case investigation delay
Wallbox, the Spanish startup of electric car chargers, has just purchased the Electromaps charging points app
The Spanish startup that manufactures chargers for electric cars Wallbox announced Tuesday the purchase of the mobile app to find charging points in Spain and Portugal Electromaps, which has 120,000 charging stations collected on its platform and 100,000 registered users.
The objective of Wallbox with the purchase of the majority stake in Electromaps shareholders is to create "a complete ecosystem of electric car charging" in the countries in which it operates, as explained by Wallbox CEO Enric Asuncion, in a statement.
"Beyond having the leading public recharge platform in Iberia, Electromaps and its team bring us years of knowledge in this market segment and their vision is fully aligned with Wallbox's mission. Our goal is to continue to invest in the technological development of the platform and bring it to more markets, thus complementing our existing residential and semi-public recharge solutions,” Asuncion said.
Electromaps, founded in 2009, not only has a database of charging points, but also offers a software-as-a-service (SaaS) tool for charging management and charging, aimed at charging station managers, public or private. The Government of Andorra uses its tool to manage all public charging points, dependent on the public company FEDA.
The home charger company for plug-in electric or hybrid vehicles, winner of the South Summit Forum startup competition in 2017 and selected among the top three emerging companies in the world at the 2018 Startup World Cup in Silicon Valley, closes this acquisition after completing a $ 23 million investment round by mid-2020.
The round, closed in May with the aim of boosting the startup's international growth in China and North America, as well as to expand its R & D, had the Seaya Ventures Fund as a leader, with investment from Iberdrola, which already had a stake in the company, and Endeavor Catalyst.
Wallbox sells its chargers to 40 countries and has 250 employees in offices in Europe, Asia and America, in addition to having two own factories, one of them in Suzhou (China), with capacity to produce 100,000 Chargers per year.