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Paytm Mall To Acquire Minority Stake In Grocery Business BigBasket

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Paytm Mall to Acquire Grocery Business Bigbasket,inspirational stories,Latest Business News 2017,startup stories,startup stories india,Paytm Mall to Acquire Bigbasket,One97 Communications,Department of Industrial Policy and Promotion,Alibaba Group,Amazon,Paytm Mall

One97 Communications owned, online market space Paytm Mall has started due diligence of the accounts and the operations of online grocery retailer BigBasket, for a $ 200 million minority stake.
 
BigBasket has been looking for investments since the start of the year and has attracted interests from several investors including ecommerce giant Amazon. However, according to reports, talks with the retail giant have been paused for the past couple of weeks.
 
High profile investors including Wal-Mart Stores Inc., Tencent Holdings Ltd., and Fosum International Ltd., have also shown interest in the online grocery retail startup. But, the various fundraising efforts were delayed due to valuation differences.
 
In 2016, BigBasket was valued at $ 450 million when it last raised capital in March. They are now seeking for a pre money valuation of at least $ 550 million. Investment firm Morgan Stanley will be advising the grocery retailer in these talks. They registered about Rs. 1400 crores revenue in the financial year 2017 and have also started 60 minute express delivery to take on rival online grocery retailer, Groffers.  
 
Paytm Mall also recently raised $ 200 million from Alibaba Group and SAIF Partners in March, in an effort to compete against Amazon India and Flipkart. According to sources, this deal will help Paytm Mall strengthen its online to offline strategy and will help them take on their rivals, The Economic Times reported.
 
Amazon recently got the Department of Industrial Policy and Promotion’s approval to invest $ 500 million in the food processing sector, which will allow them to directly sell groceries and other food products online.
 
Paytm has been targeting categories such as movie and travel ticketing to encourage repeat purchases through its online payments and mobile wallet business. Paytm Mall hosts 14,000 sellers for millions of products across various categories. A majority stake in the food processing sector will allow them to grow in the online retail sector giving them an edge over the other ecommerce giants.

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Zepto Delays IPO to Focus on Profitability and Indian Ownership

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Zepto - StartupStories

Overview

Zepto, a leading quick commerce startup, has postponed its planned IPO to early 2026, shifting its focus to achieving profitability and increasing Indian shareholding before going public.

Key Reasons for Delay

  • Profitability Focus: Zepto aims to reach EBITDA break-even before listing, unlike many tech firms that went public while still loss-making.
  • Market Uncertainty: Ongoing global and domestic market volatility influenced the decision to wait for more stable conditions.
  • Peer Comparison: The company wants to present a stronger profit profile, learning from the performance of rivals like Swiggy and Zomato (now Eternal).

Boosting Domestic Shareholding

  • Target: Zepto plans to raise Indian ownership to at least 51% to comply with FDI norms and reinforce its Indian identity.
  • Actions: The company is conducting secondary share sales to Indian investors and founders are increasing their stakes by buying from foreign investors.
  • Progress: Domestic ownership has reached about 40-44%, with expectations to surpass 51% before the IPO.

Financial and Operational Updates

  • Efficiency Drive: Zepto is optimizing operations, running over 900 dark stores and offering 48,000 SKUs, to reduce cash burn and move toward profitability.
  • Challenges: The company faces stiff competition from Swiggy Instamart and Blinkit, leading to higher costs, and has dealt with operational pauses and regulatory scrutiny in some regions.

Outlook

Zepto remains positive about its future, aiming to raise around $800 million in its IPO and attract both domestic and international investors. CEO Aadit Palicha emphasizes building a sustainable, majority Indian-owned business before entering the public market.

Summary: Zepto’s IPO delay reflects a strategic focus on financial stability and regulatory compliance, with profitability and Indian ownership at the forefront.

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Polygon Enters New Era: Leadership Shift and Major Upgrades Under Sandeep Nailwal

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Polygon StartupStories

Sandeep Nailwal, co-founder of Polygon, has been appointed as the first CEO of the Polygon Foundation, marking a shift from decentralized governance to focused leadership. This change aims to provide clear direction and accelerate Polygon’s growth in the competitive blockchain space.

Under Nailwal’s leadership, Polygon will discontinue its zkEVM network in 2026 to concentrate on the Polygon PoS chain and AggLayer, a new cross-chain liquidity protocol. Significant upgrades to the Polygon PoS chain are planned, starting with the Bhilai upgrade in July 2025, to enhance transaction capacity and support large-scale financial applications.

Polygon enters this new phase with a strong financial position, enabling long-term development without fundraising pressures. While Nailwal leads the Foundation, Marc Boiron continues as CEO of Polygon Labs. This leadership restructuring aims to drive innovation and reinforce Polygon’s position in Ethereum scaling and the Web3 ecosystem.

 

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Wow! Momo Raises ₹85 Crore from Stride Ventures to Accelerate Nationwide Expansion

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WoW Momo StartupStories

Wow! Momo, the Kolkata-based quick-service restaurant (QSR) chain, has secured ₹85 crore (approximately $9.9 million) in debt funding from Stride Ventures, aiming to accelerate its omnichannel expansion and strengthen its presence across India. The company, which operates over 700 outlets in more than 70 cities, plans to utilize the funds to open additional dine-in restaurants, expand its packaged food (FMCG) vertical, and enhance its delivery and supply chain operations. This strategic move will also help refinance existing loans and fuel Wow! Momo’s push into new markets and product categories.

Founded in 2008, Wow! Momo has rapidly diversified its offerings, launching brands such as Wow! China, Wow! Chicken, and Wow! Kulfi, and recently entering the frozen foods segment with quick commerce and retail distribution. The company is targeting a footprint of over 1,500 stores across more than 100 cities within the next three years and aims to grow its FMCG business to ₹100 crore while ramping up its HORECA (Hotel, Restaurant, and Catering) segment. The leadership team views this debt infusion as pivotal for scaling new formats, driving innovation, and building brands that resonate with Indian consumers.

Stride Ventures, known for backing high-growth startups, emphasized Wow! Momo’s strong brand recall, robust business model, and relentless innovation as key reasons for their investment. With this funding, Wow! Momo is well-positioned to further solidify its status as a category-defining player in India’s QSR and FMCG sectors, while preparing for larger equity rounds and a potential IPO in the coming years.

 

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