BigBasket completes acquisition of RainCan, Morning Cart and Kwik24

INDIA - Online grocery store BigBasket has completed the acquisition of three startups, taking 100% stake in two milk ventures RainCan and Morning Cart and a controlling stake in Kwik24, according to an ET Retail report. RainCan and Morning Cart acquisitions marks the company’s entry into micro-delivery segment which includes milk delivery and omnichannel grocery…

BigBasket in talks to acquire majority stake in Kwik24 start-up company

INDIA - The Indian online grocery and food products provider, BigBasket is eying a majority stake in smart vending machines start-up Kwik24 in an effort to expand its offline grocery business. ET Retail reported that according to people familiar with the matter, BigBasket had earlier launched a pilot program with Kwik24 to deploy smart vending…

Alibaba leads $300 million funding for Indian online grocer Bigbasket

INDIA - Alibaba Group Holding Ltd led a $300 million investment into India’s biggest online grocer Bigbasket, signalling that the region’s segment is firing up. Hari Menon, Bigbasket’s co-founder and chief executive officer, said the investment values the company at $950 million—just $50 million under the $1 billion valuation that would have earned it tech…

Alibaba gets CCI approval to invest in India’s BigBasket

INDIA - Chinese e-commerce major Alibaba has got approval of the Competition Commission of India (CCI) for investing in Indian online grocery platform, BigBasket. The move comes within a month of Alibaba seeking CCI’s nod for the same. According to a CCI notice, Alibaba Singapore – a subsidiary of Alibaba Group Holding – had proposed the acquisition and…