Woolworths remains committed to its long-term alliance with Marley Spoon even though its venture capital arm, W23, sold its 9.9 per cent equity stake in the meal kit company for $54 million.

Marley Spoon shares fell almost 11 per cent to $1.81 on Tuesday, their lowest price for more than a year, amid concern over the implications of Woolworths’ move, which came less than two weeks after W23 converted its last outstanding convertible bonds into shares.