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Alibaba Leads $300 Million Funding for India's Top Online Grocer

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How Alibaba's Jack Ma Went From KFC Reject to Asia's Richest Man

Alibaba Group Holding Ltd led a $300 million investment into India’s biggest online grocer Bigbasket, signaling that the region’s segment is firing up.

Hari Menon, Bigbasket’s co-founder and chief executive officer, said the investment values the company at $950 million -- just $50 million under the $1 billion valuation that would have earned it tech unicorn status.