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Amazon in talks to purchase India’s biggest online grocery store

by Ray Hayes

Amazon has been making major moves as of late. This past weekend, the online seller purchased the trendy grocery chain Whole Foods for a whopping $13.4 billion.  With Amazon Go, launching last year, the future of online grocery looks bright for the company, but spells panic for its competition.

So, what’s next for Amazon?
Well according to Times of India, BigBasket is next on Amazon’s target list.

BigBasket is India’s largest online grocery store. The Indian firm and Amazon, according to Investopedia.com, “have entered a 60-day exclusivity agreement during which BigBasket can’t hold talks with other potential suitors about a sale.” The Times of India reports that the deal may not go through however, which  is why the Indian firm is still looking to raise cash even though talks with Amazon are underway.

Amazon has become a big competitor in the online grocer market with the purchase of Whole Foods. The company also recently opened a physical location to house its Amazon Go stores and is currently looking to take over the international market as well. I am anxious to see were this goes because this could affect tons of retail small businesses and the way they do business depending on how Amazon moves. We will keep you updated once more information comes in about Amazon and the purchase of BigBasket.

http://www.investopedia.com/news/amazon-wants-buy-indias-largest-online-grocer-amzn/?utm_source=facebook.com&utm_medium=social&utm_campaign=fb_main_page

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