Amazon (AMZN.US) invests in Latin American delivery company Rappi to challenge local e-commerce giant MercadoLibre (MELI.US).

According to the Wise Financial APP, Amazon (AMZN.US) has acquired a stake in the Colombian delivery company Rappi. This strategic partnership will combine the retail and technology infrastructure of the e-commerce giant with Latin America's most well-known "last-mile" delivery company. This initial investment - reportedly $25 million in convertible bonds according to a source familiar with the deal - is relatively small for Amazon. However, the deal gives the Seattle-based company the right to purchase up to 12% of Rappi's shares through warrants after reaching certain milestones, with these figures subject to change.