Amazon to possibly buy BigBasket

Despite investment heavily in India and seeing a loss, US-based e-commerce platform Amazon continues to expand.

According to a Bloomberg report, Amazon is currently in talks to acquire BigBasket, India’s online grocery startup.

(Read also: Amazon wants to sell you milk, eggs with new convenience storesIndia outranks China, Malaysia remains third on GRDIIndia’s 100% FDI in food retailing fails to attract retailers)

Amazon is the not the first player to show interest in the young company, which operates in 25 cities. Previously, its rival Grofers was rumoured to be in a merger discussion with BigBasket.

The talks between Amazon and BigBasket is said to be in its preliminary stage and may not materialise to an actual deal. However, in the latest interview with Moneycontrol, BigBasket CEO Hari Menon denied both merger talks with Grofers and a possible acquisition by Amazon.

Amazon has committed to pumping in USD5 billion into India, taking on its rivals Flipkart and Snapdeal.

While Amazon has its own online grocery service, Amazon Now, it is in competition with more than 70 startups involved in grocery delivery.

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