Sep 12, 2017

BigBasket nears $280 million funding, but without Amazon

BigBasket, an India-based online grocery, reportedly is in the final stages of raising $280 million in Series E funding at a pre-money valuation of around $600 million. Alibaba Group and Paytm Mall would co-lead the round, to be joined by return backers Sands Capital and The Abraaj Group.

Why it matters: Because Amazon lost. For once, Amazon lost. Something. Anything. The Seattle-based leviathan reportedly wanted to invest, albeit at a significantly lower valuation and therefore got shut out. Amazon wants to play big in a very fragmented Indian online grocery market but, rather than teaming with BigBasket and its 5 million customers, it now will need to view BigBasket (and Paytm) as a major rival, alongside Flipkart. This also may increase the likelihood that Amazon invests in BigBasket rival Grofers.

Bottom line from VCCircle: "Bengaluru-headquartered BigBasket has so far raised about $250 million and has posted over three-fold increase in its revenues to Rs 563 crore for 2015-16. It had expanded operations to over 30 cities from just six in 2016, and is betting big on its private-label business to become profitable by March 2018."

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Coronavirus updates: New global case numbers surpass China's

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus is now affecting every continent but Antarctica and the WHO said Wednesday the number of new cases reported outside China has exceeded those inside the country for the first time.

The big picture: COVID-19 has killed more than 2,800 people and infected over 82,000 others in some 50 countries and territories. As Denmark and Estonia both reported their first cases on Thursday, Scott Morrison, prime minister of Australia — which has 23 confirmed cases — told a news conference, "The risk of a global pandemic is very much upon us."

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Mass shooting in Milwaukee: What we know so far

Milwaukee Mayor Tom Barrett in 2012. Photo: John Gress/Corbis via Getty Images

Six people died in a shooting at the Molson Coors Brewing Company in Milwaukee Molson Coors on Wednesday, including the 51-year-old gunman, Mayor Tom Barrett told reporters at an evening press conference with local police.

Details: All of the victims worked at the brewery complex, as did the shooter who died of "an apparent self-inflicted gunshot wound, police confirmed in a statement late Wednesday.

Go deeperArrowUpdated 2 hours ago - Politics & Policy

WHO official leads criticism of Trump's coronavirus response

President Trump with members of the new coronavirus task force, including Vice President Mike Pence at the White House on Wednesday. Photo: Tasos Katopodis/Getty Images

Dr. Ezekiel Emanuel, special advisor to the director general of the World Health Organization, told MSNBC Wednesday he found "most" of what President Trump said at his briefing on the novel coronavirus "incoherent."

The big picture: As the number of confirmed cases reaches 60 in the U.S., the top health professional — who was a health policy adviser in the Obama administration — is among several leading figures, in particular, Democrats, to criticize the president for his response to the outbreak.

Go deeperArrow3 hours ago - Health