Acquisition · Commerce & Consumer Brands

Amazon signs exclusive deal to acquire Bigbasket

By Startup Enthusiast · 17 June 2017

What they do

Bigbasket is the largest funded online grocery store in India

Amazon signed a 60-day exclusive agreement to acquire Bigbasket, with an asking price of around $700 million

Bigbasket can still explore funding from other investors during the exclusivity period

Amazon signed a 60-day exclusive agreement to acquire Bigbasket.
During this period, Amazon is the only contender to acquire Bigbasket.
Bigbasket can still explore funding from other investors during exclusivity.
Bigbasket's asking price is around $700 million.
Bigbasket's valuation at its last funding round was $450 million.
Bigbasket had merger negotiations with Grofers earlier in 2017, which did not materialise.
A Bigbasket spokesperson refuted any discussion with Amazon.

Amazon wants to capture a significant portion of the Indian grocery and food retail segment.
Amazon committed to invest $515 million over five years into India's food-retailing sector.
Amazon Now, Amazon's grocery delivery service, launched in November 2016 and operates in four cities.

Bigbasket is the largest funded online grocery store in India.
Bigbasket has raised a total of $220 million in funding.
Bigbasket is eyeing to raise $100-150 million for private label expansion.
Bigbasket raised Rs 45 crore from Trifecta Capital in March 2017 for capital expenditure.