BigBasket looks to raise $350 Mn at $2 Bn valuation to fight Jio-Facebook
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BigBasket is looking to raise $250 Mn to $300 Mn from both new and existing investors at a valuation of $1.5 Bn-$2 Bn, the company’s cofounder Hari Menon confirmed. The company reportedly wants to keep its inventory ready with capital and wider investor base to fight the Reliance Industries-Facebook combine. In an interview, Menon added that BigBasket has appointed Morgan Stanley and Goldman Sachs as the advisor for the fundraise.