Groceries Redux

Paytm’s $200-million frequency gamble: BigBasket

What does a $280-million Series E investment into BigBasket say? That grocery is the new black in ecommerce. Expect a three-sided contest between Flipkart, Amazon and Paytm

groceries-1343141_1920-1920x1277.jpg

BigBasket, India’s largest online grocery retailer, is raising $280 million from investors. While existing investors Sands Capital and The Abraaj Group are putting in $80 million, the remaining $200 million is coming from new investors Paytm Mall* and China’s Alibaba Group. The $200 million also includes a ‘secondary’ buyout of some of BigBasket’s existing shareholders. As a result, BigBasket’s ‘post money’ valuation will now range between $800-900 million, placing it within striking distance of the coveted ‘unicorn’ tag. Though the deal has been signed off by all the parties involved, a formal announcement and signed agreement might…

To access this content, you must purchase Quarterly, or log in if you are a member.

Read the full story now. Subscribe to The Ken

Stories on The Ken are available only for its subscribers. Join us now to get instant access.

Have an account?

Related stories

More stories in /Reportage & /Startups

See all in Reportage & Startups

This story is exclusively for premium subscribers. Subscribe now to get access.

Read the full story now. Subscribe to The Ken

Why should I pay for reading your stories?

Lots of effort We go to lengths to put in time and resources required to get the most factual, honest stories out there.

Advertising independent Our primary allegiance will always be to our readers. We won't be swayed by our advertisers and investors.

We can't do all of this by giving away our journalism for free and selling our readers by the thousands to advertisers.

Get premium access