Funding · Commerce & Consumer Brands

BigBasket in talks for $200 million investment

By Startup Enthusiast · 11 July 2017

What they do

BigBasket is an online grocery platform based in Bengaluru

Alibaba and Paytm Mall are in talks to invest $200 million in the company

The investment comes after failed acquisition talks with Amazon

BigBasket is in talks to raise $200 million from Alibaba and Paytm Mall.
The investment would value BigBasket at about $900 million post-money.
Paytm Mall is likely the lead investor in this round.
Existing investors include Abraaj Group, Bessemer Venture Partners, Sands Capital, Helion Venture Partners, and International Finance Corp.
Temasek Holdings and Fosun Group are also in talks for a potential investment.
Morgan Stanley is advising BigBasket in the negotiations.
BigBasket had previously explored a sale to Amazon and a merger with Grofers, but those talks failed over valuation.

Grocery is a sticky category that drives frequent transactions and customer loyalty.
India has about 70 million online shoppers, a number that has been stagnant for 18 months.
Paytm Mall delisted about 85,000 sellers to improve customer experience.
Paytm Mall plans to use BigBasket's corner store partnerships for its online-to-offline (O2O) strategy.

BigBasket is an online grocery platform based in Bengaluru.
It operates private labels Fresho (fruits & vegetables) and Happychef (gourmet foods).
It launched express delivery in 60 minutes last year.
BigBasket's revenue was about ₹1,400 crore in FY2017.
The company had raised $220 million before this round.

Paytm Mall aims to use BigBasket's corner store partnerships for its O2O strategy.