Friday, 24 March, 2023
Tata Group to buy majority stake in BigBasket, Alibaba set to take exit
<p>BigBasket may sell a majority stake for about $1 bn to Tata Group, media reports said quoting sources. Alibaba, having 26 % stake in BigBasket, 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 the India's booming e-commerce market. The online grocery startup competes with Walmart owned Flipkart and Amazon's "Fresh" services.</p>
Read full story at NDTV
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