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Amazon Backs Shanghai-Based Food Vendor

  • TechNode, Tuesday, May 20, 2014 10:12 AM
Amazon has reportedly invested $20 million into Shanghai-based online food vendor Yummy77. “It is the first time for the U.S. e-commerce giant to invest in a Chinese company,” reports “Amazon disclosed that it will hold a minority stake in Yummy77, which will continue its independent operation after the funding.” Yummy77 has aspirations to expand beyond Shanghai.

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