Amazon teams up with Just Eat on U.S. food delivery with Grubhub investment

Shares in Just Eat rose after Amazon agreed to buy a stake in unit Grubhub. Picture: Gabby Jones/Bloomberg

Amazon has agreed to take a 2% stake in Just Eat Takeaway.com's struggling U.S. meal delivery business Grubhub and will offer its Prime members access to the service for one year.

The deal is a major relief for Just Eat Takeaway, whose shares have fallen 70% this year as shareholders demanded it sell or find a partner for Grubhub, which it bought just last year for $5.8bn (€5.65) in shares.