Tata set to acquire BigBasket to boost its Super App
The Super App will bring the company’s consumer offerings on a single platform
The acquisition will reportedly provide a near-complete exit to some of BigBasket’s existing investors including Alibaba
Tata is expected to buy out Alibaba’s 30% stake in BigBasket
Reports say Tata might acquire up to 68% stake in BigBasket for $1.31 Bn
BigBasket was looking to raise $300 Mn at a valuation of $2 Bn last year
The startup entered Unicorn club in 2019
