Tata Digital said it has acquired a majority stake in online grocery BigBasket, according to ETtech report. Financial details of the deal were not disclosed. According to regulatory filings, the company has acquired around 64% stake in Supermarket Grocery Supplies—the business-to-business entity of the online grocer. The deal was cleared by the Competition Commission of…
BigBasket has registered a loss of 80% of its workforce within two days of the coronavirus induced lockdown in March, said CEO Hari Menon. However it bounced back with resilience and hired over 12,000 employees in sixteen days, he added. Speaking at an online session of “Isha Insight: The DNA of Success”, he said, “After…
E-retailer BigBasket has secured $50 million from its existing investor Alibaba as part of a bridge round, two people in the know said, as per a media report. A bridge round is an intermediate funding meant to cover short-term expenses as the company looks for a larger investment cheque. The funding comes at a time…