Alibaba is reportedly investing $200 million in an Indian grocer, in a challenge to rival Amazon

Published Fri, Dec 8 2017 9:26 AM ESTUpdated Fri, Dec 8 2017 6:27 PM EST

Sara Salinas

Alibaba is set to invest $200 million in Bigbasket, India's largest online grocer.
The investment would earn the Chinese e-commerce giant a 25 percent stake in Bigbasket and a foothold in two burgeoning e-commerce markets.
Bigbasket had previously been in investment talks with Amazon, Bloomberg reports.

is set to invest $200 million in Bigbasket, India's largest online grocer, Bloomberg reports, citing sources familiar with the talks, escalating competition with rival .

The investment would earn the Chinese e-commerce giant a 25 percent stake in Bigbasket and a foothold in two burgeoning e-commerce markets: the nascent Indian e-commerce industry and the online grocery industry.

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