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Indian:BigBasket will be acquired by Indian business giant Tata, acquiring 68% of the shares

source:[Gravimetric blender]   release time:2021-04-23 09:32:59

According to overseas media reports, Indian business giant Tata plans to acquire 68% of the e-commerce platform BigBasket. If this acquisition is successful, the newly established company will become India's largest food and grocery e-commerce platform.

As an emerging Internet company, BigBasket was born more than 20 years ago. As early as the 1990s, there was an idea to create an online grocery retail store. Now it is about to be acquired by the Indian Tata Group with a market value of US$106 billion. The company has achieved further Span.

In the e-commerce industry, especially in the segment of grocery e-commerce, BigBasket has been facing competition from different opponents. After realizing the huge potential of the Indian retail market, well-funded companies have begun to enter this field. Despite fierce competition, BigBasket managed to maintain its leading position. This is mainly because the company has a large amount of cash reserves, and secondly because BigBasket can better serve consumers.

The $10 million Series A financing completed by BigBasket before was the largest single round A financing in the Indian market at that time. Since its establishment, BigBasket has been cultivating users' consumption habits of purchasing on a weekly basis. Once users are used to this consumption method, the platform will be able to continuously and steadily obtain income and will further increase customer stickiness and stabilize market share. It seems that BigBasket's initiative has been a success. If it is successfully acquired by Tata Group, BigBasket will usher in new development.[Gravimetric blender]