Ecommerce leader Amazon.com Inc (NASDAQ: AMZN ) has used a series of acquisitions and partnerships to boost the offering of its Amazon Prime subscription service. Here’s a look at some of the benefits Prime subscribers get and what may be coming down the road.
What Happened: Amazon announced a partnership with Grubhub Wednesday. The partnership will allow Amazon Prime members to get a free, one-year Grubhub+ membership and receive $0 delivery fees from restaurants on the Grubhub platform.
Grubhub+ normally costs $9.99 a month for the food delivery subscription service.
Under the terms of the partnership, Amazon is buying a 2% stake in Grubhub with warrants that give the company the option to acquire another 13% of the company.
The new feature continues to add to the benefits offered by having an Amazon Prime membership.
Launched in 2005, Amazon Prime includes benefits like free two-day delivery, television and movie streaming, music streaming, free games, unlimited photo storage and available books to read. Prime memberships also offer savings on pharmaceuticals at over 60,000 pharmacies including Walgreens Boots Alliance (NASDAQ: WBA ) and CVS Health (NYSE: CVS ).
Amazon raised the price of its Prime membership earlier this year from $12.99 to $14.99 for a monthly subscription and the annual membership from $119 to $139. This was the first price increase for Amazon Prime since 2018.
As Amazon raises its prices ...
Full story available on Benzinga.com