Alibaba will invest $300 Million in BigBasket

Indian online supermarket giant BigBasket will be backed by Alibaba soon. Alibaba is planning to take $200 Million in it & will take 25% stake in it. Earlier, Bigbasket was looking for investment from Amazon.com as Jeff Bezos had acquired U.S based 'whole Foods Markets Inc' in June. After this investment Bangalore based company will be valued at $800 Million.