Tata Group to buy majority stake in BigBasket, Alibaba set to take exit

Bigbasket may sell a majority stake for about $1bn to Tata Group, media reports said quoting sources. Alibaba Group, having 26 % stake in bigbasket.com, is expected to sell its entire stake in the start-up. The salt-to-software conglomerate is planning to launch a “super app”, as it plans to compete with Amazon and Reliance Industries in India’s booming e-commerce market. The online grocery startup competes with Walmart owned Flipkart and Amazon’s “Fresh” services.

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