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Tata Group is an Indian conglomerate. It was founded in 1968 and since then it has emerged as one of the most dominant industry players in the Indian market.
The salt to software conglomerate has made it again into the news with the ongoing discussion going on for taking up to 80% of the Bigbasket’s (online food and grocery company) share.
Tata Group extending investment Bigbasket
A recent news airing is that Tata Group is in the process of acquiring Bigbasket’s stake worth over $1 billion. The process initiated when Bigbasket was seeking out a $200 million investment due to the withdrawal of Alibaba that was priorly a stakeholder.
The motive behind this venture would be Tata to take on its rivals, i.e. Amazon and Reliance that have recently stepped into the grocery delivery business. Apart from the huge investment that it has attracted from the Tata Group, there are other aspects as well that this move will determine.
As per Mint newspaper’s latest news, the discussion between the Tata Group and Bigbasket is ongoing for a while now and internal sources now predict Tata to acquire the share of grocery giant Bigbasket that has been in requirement of fresh funds from investors.
It is estimated that Tata could pay a sum of $500 million to $700 million boosting up the online grocery store’s market potential.
Tata to sponsor the ‘Super App’
As Amazon and Reliance have already integrated its various consumer-based services in one single app, Tata Group has decided to invest in creating an app, ‘Super App’, that targets to showcase all of its consumer-based services making it easily accessible via a single mobile application.
China backing-off its stake from Bigbasket
Alibaba is a Chinese multinational technology company that has a huge stake in Bigbasket. According to the experts, Alibaba accounts for up to 26% of the total share of the Bigbasket that makes it a dominant fundraiser for the online food and grocery operator (Bigbasket).
It is the time when Alibaba is selling its share of 26% that it earlier held. To support and expand the Bengaluru based online store, Tata The process has been under discussion for quite a long time; however, it is not concluded yet and still has a few more time to go.
What is Bigbasket?
Bigbasket’s journey can be traced starting from the year 2011. A joint venture with its stakeholders as Abhinay Choudhari, Hari Menon, Vipul Parekh, VS Sudhakar, and V.S. Ramesh.
it was launched to help the rushing professionals in the metro cities who were not finding enough time to buy groceries when they required it.
Here is a short overview of the online food and grocery store-
- It lists 1000+ brands covering over 18,000 products that are demanded in every household to meet their daily needs.
To name a few of it, bakery items, beverages, branded foods, food grains, fruits & vegetables, household supplies, masalas, oil, personal care products, eggs, meat, fish, are what the online grocery store showcases in its catalogue.
- Bigbasket records more than 4000 employees working day and night for the brand to push its limit with a total of revenue generation as $3.2 million and going beyond.
A new beginning of Bigbasket?
At present, Bigbasket accounts for approximately 35% in the Indian grocery market. Tata’s proposed deal with the online grocery giant has opened the new horizons for the online grocery company. It has raised the aspirations of other stakeholders and it is expected to grow at a CAGR of 55% by the year 2023.
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