• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
Computer Business World News

Computer Business World News

Trending News about Computers, Business and Tech

  • Home
  • BUSINESS
  • CAREERS
  • CLOUD
  • COMPUTERS
  • CYBERSECURITY
  • I.T.
  • TECH
  • VOIP
  • About

Tatas buy 68% in BigBasket – Should Amazon, JioMart be worried? Logos of Tata Group and BigBasket

February 17, 2021 by CBW Reporter

The Tata Group is in the final stages of acquiring a majority stake of 68% in Supermarket Grocery Supplies, which runs and operates online grocery brand BigBasket. The deal is said to be worth about Rs 9,300-9,500 crore. 

The biggest deal in the online grocery space values BigBasket at Rs 13,500 crore (approximately $1.85 billion). 

The Tata Group has sent the deal to the antitrust watchdog, the Competition Commission of India (CCI), and a formal approval is expected to come in a month’s time.

Chinese internet giant Alibaba, which has nearly 30% stake in BigBasket, and other investors like Abraaj Group are set to exit as part of the deal with Tata Group.

Tata group and BigBasket have so far not officially commented on the matter.

BigBasket posted big numbers in 2020

It is expected that the top management of BigBasket will continue with their current postings in the company.

The Bangalore-based Big Basket has presence in 26 Indian cities. It is the leader in the online grocery space with over 18,000 products and 1,000 brands available on its platform.

Its business zoomed up in the pandemic-induced lockdown situation, and its new customers base shot up by a whopping 84% last year. 

BigBasket is currently recording about 20 million orders per month and reached $1 billion run-rate in annual revenues last year.

But why are Tatas taking over BigBasket?

Tatas entering the online grocery business would cause further tizzy in a market dominated by the biggies, Amazon, Reliance Retail (Jio Mart) and the Walmart-owned Flipkart.

The acquisition of BigBasket is in line with the Tata Group’s plans for a major foray in the online segment — a lacuna in an otherwise dominant player that operates, as the cliché goes, from salt to software in India.

The Tata Group is planning to launch a multi-utility app later this year.

The app would bring together multiple consumer services owned by the group including the brick-and-mortar Croma Retail stores, a multi-brand option for all consumer electronics products in India.  

For the Tata group, the deal is aimed at securing as much control as possible in India’s fast-growing e-commerce market before RIL and Flipkart become too big”.

Further, the expansion of Reliance Retail and JioMart in e-commerce last year may have prompted Tata Group to accelerate its digital efforts.

But Tatas should be ready for the long haul as it competitors Amazon, Flipkart and Reliance are no pushovers.

The competition, on the other hand, should be ready for some serious fight in the market as Tatas are known for their persistence.

View Source

Filed Under: TECH

Primary Sidebar

More to See

Telarus’ UCaaS/CCaaS Provider Portfolio Now Includes Simplicity VoIP

[ad_1] Simplicity VoIP brings Netsapiens technology to the Telarus community. Telarus has added Simplicity VoIP, the provider of UCaaS … [Read More...] about Telarus’ UCaaS/CCaaS Provider Portfolio Now Includes Simplicity VoIP

Quantum computing hits the desktop, no cryo-cooling required

[ad_1] Superconducting quantum computers are huge and incredibly finicky machines at this point. They need to be isolated from anything that might … [Read More...] about Quantum computing hits the desktop, no cryo-cooling required

True Palo Alto Networks Exam Questions With Updated PSE-Strata Ideal Quality Of PDF Exam Dumps

[ad_1] Up Grade Your Vision And Skillset with Palo Alto Networks PSE-Strata Exam PDF DumpsAs of these days if we see lots of Palo Alto Networks … [Read More...] about True Palo Alto Networks Exam Questions With Updated PSE-Strata Ideal Quality Of PDF Exam Dumps

Footer

SITE INFORMATION

COMPUTER BUSINESS WORLD NEWS

About/Contact

Privacy Policy

Thank you for visiting our website.

Recent

  • Vytelle Closes Oversubscribed Series A
  • Telarus’ UCaaS/CCaaS Provider Portfolio Now Includes Simplicity VoIP
  • Quantum computing hits the desktop, no cryo-cooling required

Search

Copyright © 2022 Computer Business World