Amazon a global e-commerce giant in talks to buy BigBasket an online grocery portal, to amplify its operations in Indian Market, as per the Bloomberg reported on Tuesday.
There is no confirmation of the deal as it is still in its initial stages and the representatives declined to comment on the statement at present.
Home-grown largest grocery e-commerce BigBasket currently operates in 25 cities across the country. It has raised $150 million last year in a funding round led by Dubais Abraaj Group and other backers also include Bessemer's Venture Partners and Helion Venture Partners. In March, BigBasket has also raised $7 million investment to set up warehouses and strengthen delivery network from Trifecta Capital.
Jeff Bezoz, Amazon CEO also committed to investing $5 billion in the Indian market in the time to come to give a tough competition to its rivals. Amazon plans to bring more products to their offerings by increasing their operations in online food and grocery sale business.