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…
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
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