05:36 PM EDT, 09/08/2025 (MT Newswires) -- Amazon.com ( AMZN ) has acquired a stake in Colombian delivery startup Rappi, expanding its footprint in Latin America and intensifying competition with regional e-commerce leader MercadoLibre, Bloomberg reported late Monday.

The initial investment consists of a $25 million convertible note, giving Amazon ( AMZN ) the option to acquire up to a 12% stake in Rappi via warrants upon achieving specified milestones, the report said.

Bloomberg said the deal provides Amazon ( AMZN ) with access to Rappi's last-mile delivery network, while Rappi benefits from Amazon's ( AMZN ) technology and cloud resources.

Rappi is backed by SoftBank, Sequoia Capital, and T. Rowe Price, and is reportedly considering a 2025 initial public offering, it added.

Amazon.com ( AMZN ) didn't immediately respond to a request for comment from MT Newswires.

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