The salt-to-software group hopes the addition of the popular grocery platform will give its online presence a boost and underpin its super app ambitions.
BigBasket, India’s largest online fresh foods retailer, may be getting ready to say ta-ta to its independent existence. It could soon be a part of the Tata group.
The acquisition of the Bengaluru-based unicorn (a startup valued at or over $1 billion), if and when it happens, will be among the biggest investments in the salt-to-software conglomerate’s 153-year history.
Talks have been on for months and have reached the final stages now. If the grapevine is to be believed, the Tatas could fork out in the neighbourhood of $1.2 billion for a 60% stake in the e-grocer.
On paper, it …
Saif is a writer and co-founder at The Morning Context. He has worked across technology, strategy and business functions during his career. Saif has extensive experience in e-commerce, working with companies such as Snapdeal and LG Electronics in India. He currently works at an edtech startup in Canada. At The Morning Context, he focuses on e-commerce and retail and writes the stories that matter.
Writer
saif@mailtmc.com
Toronto