The Tata group is in talks to acquire a majority stake in online pharmacy 1mg. The deal, if goes through, could intensify the battle in India’s e-pharmacy sector, as Tata, Reliance and Amazon are battling for a piece of pie. In Aug, Reliance Retail acquired a 60% stake in the parent company of Netmeds. Amazon also rolled out prescription drug delivery service in Bengaluru in partnership with Cloudtail. 1mg, as per reports, has been in talks to raise around $100 mn.
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.
The salt to software conglomerate is set to launch its umbrella venture called “SuperApp” by December 2020. The Tata Teleservices of Tata Group will provide technical solutions to the SuperApp, which will revive the telco arm’s business. The Tata Teleservices is running under heavy losses. Thus, the SuperApp venture might possibly turn it into a profitable one, the company expects. The SuperApp will bring all Tata businesses under one single app.
The Tata Group is in talks to tie up with online groceries unicorn BigBasket, Financial Times has reported. A decision would be taken on the deal by the end of October. The coffee-to-cars conglomerate could be eyeing a 20 per cent stake and two board seats in the potential deal, the report further stated. Backed by Alibaba, BigBasket gained traction on the back of the ongoing Covid-19 pandemic as consumers purchase groceries and everyday essentials online.
Tata Digital – Tata Group’s tech arm – is set to launch an integrated ‘Super App’ which will combine its consumer offerings on a single platform, enabling the firm to pit against rivals Reliance and Amazon. Tata Digital operates e-comm platform Tata CLiQ, online grocery store StarQuik, and online electronics platform Croma. Launching December, the app will enable customers avail various services including food, electronics, fashion, financial services etc.