The firm, best known for its bets on online marketplaces like Snapdeal and ShopClues, will increase the share of investments in companies based in the US in the software space as several of its bets on the consumer-internet space have turned sour.
PremjiInvest which is said to be managing at least $3 bn of assets — predominantly in the public markets — is by far the largest family office in the country.
Alibaba, Tencent, SoftBank corner Amazon and Uber to become the biggest allies of India’s digital entrepreneurs
The moves undertaken by local and global internet players clearly indicate that the strong are getting stronger in the Indian internet ecosystem.
Online retailer believes that it has made competition irrelevant in 2017 and will shift focus to increasing monthly active transacting customers.
XpressBees is the logistics business spun out of baby and maternity products retailer FirstCry, known for its acquisition of Mahindra’s Babyoye in 2016.
This move could get small merchants who were keeping away from digital payments because of the cost involved to finally start accepting payments digitally.
Higher margins from global sales, B2B supply to dwarf co’s local business, feels India country head Amit Agarwal
The deal price was expected to be about $200 mn. This has since increased as BigBasket looks to build a bigger war chest to compete with US-based Amazon as well as India’s Flipkart.
If it expands nationally, it may cater to up to 10 million customers who might need its services six to seven times a month.
The deal will see its stake in the company drop to a little over 30% from about 55% now, a person aware of the development said, requesting not to be named.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon