Amazon Restaurants food-delivery service on the chopping block

GrubHub Stock Rises as News Hits of Amazon Restaurants Closing

GrubHub Stock Rises as News Hits of Amazon Restaurants Closing

Just some of the food available on the Amazon Restaurants website - for now.

The competition is fierce in the food delivery market, with companies such as Uber, Grubhub, and DoorDash seeing big growth in recent years.

With the closure in the US, Amazon Restaurants is officially dead.

The service, called Amazon Restaurants, offered delivery in more than 20 cities in the U.S. It expanded into the United Kingdom, but Amazon shut down the service in that country late past year.

The service packed up its bags in London in November, and Amazon confirmed to GeekWire it would end on June 24 in the US.

With Amazon out of the business, analysts said others could pick up its business.

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Amazon will shutter its Amazon Restaurants food delivery service in the USA later this month, GeekWire has learned.

"A small fraction of Amazon employees are affected by this decision, and many of those affected have already found new roles at Amazon", the company said.

He said Amazon didn't promote the delivery service enough and didn't have deals with big fast food chains.

Consolidation in the delivery business has major implications for restaurants, giving more power to a handful of delivery players that are generating their own customer bases. It is also ending its Daily Dish program, which delivered lunch to workplaces. The company's grocery-delivery platform, AmazonFresh, is still going strong, and earlier this year, Amazon poured millions of dollars into a funding round for United Kingdom -based food-delivery site Deliveroo, which operates throughout Europe, Asia, and the Middle East. That means customers in more than 20 US markets will likely have to turn to competitors like GrubHub and UberEats to satiate their hunger.

Shares of Grubhub rose 5% in early trading following Amazon's announcement.

Grubhub, meanwhile, saw revenues reach $324 million for the first quarter, up 39 percent year-over-year, though its operating margin dipped by more than 10 percent, The Motley Fool noted. DoorDash raised $600 million last month, valuing it at $12.6 billion.

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