BigBasket in Talks to Acquire Vending Startup Kwik24
Grocery retail major, BigBasket is eyeing acquisition in smart vending machine startup Kwik24 in a bid to expand its offline presence and strengthen its position against existing players Flipkart and Amazon.
The reported development has come just after Alibaba backed company announced a pact with Kwik24 to deploy smart vending machines in five apartment buildings in Bengaluru.
A source familiar with the matter said,
The strategy is to have Kwik24 work full-time on customised vending machines for BigBasket as they look to scale up this model. The response to these pilots was positive with over 90% of repeat customers.
Meanwhile, a news had surfaced earlier regarding Big basket eyeing major stakes in milk delivery company RainCan. The idea behind this acquisition is to increase the f...