Tata Digital acquired majority stake in Big Basket

Image Source – businesstoday.in

BigBasket was founded by Mr. Sudhakar, Hari Menon, Vipul Parekh, Abhinay Choudhari & V.S. Ramesh in 2011. The company has expanded its presence to more than 30 cities. It competes with SoftBank-backed Grofers as well as Amazon India and Flipkart. 

BigBasket is an Indian online grocery delivery service. The company is having its headquarters in Fairway Business Park, Embassy Golf Link, Challaghatta, BangaloreKarnataka, India.

Tata Group has acquired a majority stake in online grocery seller BigBasket. As per various source, Tata Digital buys 64% stake in Bigbasket.

BigBasket’s largest shareholders, Chinese internet giant Alibaba Group Holding Ltd and private equity firm Actis have fully exited the company, said a person aware of the deal.

“Grocery is one of the largest components of an individual’s consumption basket in India and BigBasket, as India’s largest e-grocery player, fits in perfectly with our vision of creating a large consumer digital ecosystem. We are delighted to welcome BigBasket as a part of Tata Digital,” said Pratik Pal, chief executive of Tata Digital.

Image Source – amazon.in

“We are extremely excited about our future as a part of Tata Group. As a part of the Tata ecosystem we would be able to build stronger consumer connect and accelerate our journey,” Hari Menon, CEO of BigBasket, said.

According to the Tata Digital statement, BigBasket has in its decade-long existence expanded its presence to more than 25 cities across India. The e-grocer has one of the largest assortments of more than 50,000 SKUs (stock keeping units) and also operates a farm-to-fork supply chain with over 12,000 farmers and several collection centres across India to deliver fresh fruits and vegetables.

Image Source – amazon.in

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