Alibaba is expected to pump in $50 million, sources in the know said.Global private equity major CDC is known for impact investments across developing markets such as Africa and South Asia. It had bet on Jabong — the online fashion retailer bought out by Flipkart-Myntra in 2014 — in its only other Indian ecommerce investment. CDC is also a limited partner in early-stage venture re products. There was also a $100-million secondary component in the deal. Over the last few months, BigBasket has introduced categories such as beauty, kitchen and home essentials, as well as a subscription programme called BBStar.

Source: Economic Times February 08, 2019 03:38 UTC