EP631 – Tata-BigBasket deal; What it means for startups? | StartUpCentral
17 FEBRUARY 2021 07:39 IST | ET NOW | 10 MIN 54 SEC
Today on the StartUp Central, we talk about the Tata and BigBasket deal. Ganesh Nayak from Let’s Venture said that this is the first time when an Indian business house has bought the top player in a particular category. For around Rs 9,500 crore ($1.31 billion), Tata Group will purchase a 68 percent stake in Alibaba-backed online grocery start-up BigBasket.
The reason why this is a big deal is that Tatas get a massive user base to cross-sell Tata products and services. For BigBasket, ET Now published, Tata’s stake will translate into an enterprise value of Rs 13,500 crore. This is the first step for Tatas in building a SuperApp. Moreover, Tatas will become the largest e-grocer. To know more, watch the full video!