Amazon, global leader in eCommerce services, is reportedly said to be in talks to acquire BigBasket. According to sources, the talks are still in initial phases, however, Amazon is quite hopeful of competing this deal as the move will help it set its feet in the online grocery segment of the country.
BigBasket is the leading online grocery seller of the country with its presence in over 25 cities. Owned by Supermarket Grocery Supplies Pvt Ltd, it had raised approx ₹1000 crores ($150 million) in funding from Dubai based Abraaj Group. Earlier this year, in March, it had raised ₹45 crores from Trifecta Capital in debt to open warehouses.
According to sources, no confirmation has been made from either side yet. However, Amazon’s recent developments, which suggested its interest to get a food retailing licence in India indicate towards its plans to target the online grocery and food retailing market in India.
According to a statement by one of the central ministers, Amazon is planning to invest close to ₹3000 crores in food retailing in India.