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Alibaba-Paytm gearing up to take on Amazon in e-grocery

Chinese e-tailing giant Alibaba and homegrown e-wallet company Paytm are set to invest about $200 million in BigBasket. The investment would happen at a valuation of $600 million. BigBasket has so far raised about $250 million and has posted over three-fold increase in its revenues to Rs 563 crore for 2015-16. This investment would help Bigbasket consolidate its leadership position in e-grocery space and would also enable Alibaba and Paytm in taking on Amazon. Watch the video to know more.

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Alibaba-Paytm gearing up to take on Amazon in e-grocery

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