Alibaba to invest $200 mn in Bigbasket

Alibaba Group Holding Ltd., China’s e-commerce giant, is planning to invest about $200 mn in India’s largest online supermarket, Bigbasket, according to media reports.

The deal is expected to be announced soon.

The transaction will add to a portfolio of strategic investments the Chinese ecommerce giant is building in India

Earlier, Bangalore-based grocery business had been in talks for an investment from Amazon.com Inc.

Bigbasket is the first comprehensive online grocery store in Bangalore, Hyderabad, Mumbai, Pune, Chennai, Delhi, Noida, Mysore, Coimbatore, Vijayawada-Guntur, Kolkata, Ahmedabad-Gandhinagar, Lucknow-Kanpur, Gurgaon, Vadodara, Visakhapatnam, Surat, Nagpur, Patna, Indore, Chandigarh Tricity, Jaipur, Bhopal, Ludhiana and Jalandhar.

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Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.
yash@newsbarons.com