The news: Amazon is taking a stake in Colombian delivery app Rappi, which serves over 35 million active users, partners with 125,000 restaurants, and relies on 350,000 couriers across Latin America.

• The retail giant is investing $25 million via a convertible note, according to Bloomberg.
• The deal gives Amazon the option to acquire up to 12% of Rappi, depending on performance milestones, though the terms could shift.