Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Facebook Twitter Instagram
    Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Facebook Twitter YouTube
    • Featured Startups
    • Funding News
    • CEO Interviews
    • Startup Resources
    • Inspiring Stories
    • Submit Startup
      • Pitch VCs
    • More
      • Our Team
      • Advertise
      • Write for us
      • Privacy policy
      • Startup listing
      • Steal The Deal
      • Contact
    Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Home»News»Alibaba, Fosun Group and Temasek Vying for Stake in Bigbasket
    News

    Alibaba, Fosun Group and Temasek Vying for Stake in Bigbasket

    Girish ShettiBy Girish ShettiJuly 19, 2017Updated:July 19, 20172 Mins Read
    Facebook Twitter LinkedIn Email
    Share
    Facebook Twitter LinkedIn Email

    Reports are rife in media that Chinese e commerce juggernaut Alibaba is vying for a minority stake in Bengaluru based online grocer player Bigbasket. Alibaba will invest in the online grocery player through its Indian e commerce subsidiary Paytmall. The Chinese e commerce behemoth owns nearly 50 percent stake in Paytmall.

    According to reports, Paytmall is looking to invest nearly $200 million in Bigbasket, which would propel latter’s valuation to $900 million. The due diligence of this deal is said to have been already started. This investment will apparently offer Paytmall a formidable presence in the online grocery space and much needed fire power to compete against Amazon and Flipkart.

    Bigbasket
    Alibaba and two other big names seeking investment in Bigbasket.

    However, Alibaba backed Paytmall is not the only in the race that is vying for a stake in Bigbasket. Singapore’s sovereign wealth fund Temasek Holdings and China’s Fosun Group are also in the fray, according to people familiar with the ongoing development. Fosun Group is reportedly interested in making a small investment of $20 to $30 million through its venture capital arm Kinzon Capital.

    Interestingly, Bigbasket was recently in talks with Amazon over stake sale. However, the negotiations broke down owing to differences over valuation. Amazon’s move to seek stake in Bigbasket must seen from the context of its ambitious strategy to go full throttle in the online grocery business. Earlier this month, the Seattle based e commerce giant announced that it would make $500 million investment in online grocery business.

    In fact, online grocery industry is set for a big showdown this year, with Flipkart recently making foray into online grocery business through a pilot project that will run only in Bengaluru city. But online grocery business is not without its pitfall as profit margins in this business are wafer thin. Not surprisingly, several small players as well as big players backed by prominent VC firms were forced to shut their shops in last one and half year. The most prominent being LocalBanya and PepperTap.

    Alibaba Bigbasket featured Fosun Group Temasek
    Share. Facebook Twitter LinkedIn Email
    Girish Shetti

    Related Posts

    Netflix kicks off its Password Sharing Feature in U.S & 100 other countries

    May 24, 2023

    WhatsApp finally allows you to Edit Sent Messages

    May 23, 2023

    Instagram faces Global Outage (it is back now)

    May 22, 2023

    ChatGPT goes Mobile, launches an IOS app

    May 19, 2023

    Leave A Reply Cancel Reply

    Popular Post
    • Why is one Airpod louder than the other- reason and fixes Why Is One Airpod Louder Than The Other- Reason And Fixes
    • Is Real Estate Investment Trusts a Good Career Path Is Real Estate Investment Trusts a Good Career Path? [Complete Guide]
    • advertisement examples 16 Creative Product Advertisement Examples & Ad Campaigns You Must See
    • Places that hire at 15 Places that Hire at 15 Years – Top Choices for Teenagers
    • Pestel Analysis PESTEL Analysis – What it Means and its 6 Factors Explained
    Category Posts
    • How to Clear Discord Cache: A Step-by-Step Guide
    • how to get sound on reddit How to Get Sound on Reddit: A Comprehensive Guide
    • how to fix sos only on iphone How to Fix SOS Only on iPhone: Troubleshooting Guide
    • message blocking is active android Message Blocking Is Active on Android: Understanding and Troubleshooting
    • Advanced uses of proxy servers: scraping, SEO, and more. Advanced Uses of Proxy Servers: Scraping, SEO, and More
    Our Partners
    Shopping online for Windows tablet - DHgate
    Platform to Showcase Innovative Startups and Tech News
    Facebook Twitter YouTube
    • Popular Posts
    • Advertise
    • Submit A Startup
    • Privacy policy
    • Disclaimer
    © 2023 Techpluto. Designed by Techpluto.

    Type above and press Enter to search. Press Esc to cancel.

    Catch the latest news from Startup World in your Inbox!
    [email protected]