Why Alibaba Took Control of BigBasket
When Alibaba (BABA) recently released its fiscal 3Q18 earnings results, in which its revenues grew 56% and its net profit increased 36% YoY (year-over-year), it steered clear of mentioning its relationship with BigBasket, a rising star in India’s online grocery industry. Alibaba injected $146 million into BigBasket, making it the biggest shareholder in the online grocery company.