Search Results for:Saritha Rai
Ola aims to build out an existing pilot project in the central Indian city of Nagpur, where its first electric vehicles have already travelled more than 4 million kilometres.
Walmart faces fewer regulatory hurdles because it has no online retail presence in the country now, while Amazon is the second-largest e-commerce player and Flipkart’s primary rival.
In India where groceries account for half of the almost $1-trillion retail market, Bigbasket is using knowledge learned the hard way during the dotcom era.
If completed, the deal may push the valuation of the homegrown startup to about $20 billion, up from about $12 billion last year.
At stake is an Indian digital payments market that Credit Suisse Group AG estimates could be worth $1 trillion within five years.
Almost five years after opening for business there, Amazon is spending billions fighting a ground war with local rivals like Flipkart that know the terrain.
Paytm is introducing a co-branded brick-and-mortar store where customers can walk in, scan product bar codes, browse and make purchases via its mobile app.
The round, joined by existing backers Abraaj Group and Bessemer Venture Partners, values Bigbasket at $950 million.
The startup’s existing foreign investors, including Tiger Global Management and Temasek Holdings, hold about 48% of the startup.
Alibaba is taking a stake of about 25% in Bigbasket after months of negotiations.