Hottest startup in India has an Old School name 💁‍♀️

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Jun 11, 2021

1 min read

Tata finally moved on 1mg, buying out 55% stake in the online pharmacy, valuing it at about $450 million.

This would be Tata’s 3rd major attempt to acquire some hot property on India’s venture block (after Curefit, and Big Basket)—all 3 strategically diversified yet so synergistic.

1mg, competes with PharmEasy, as well as Reliance, Flipkart and Amazon in the online pharma races, a market which has been growing 45%+ on the back of the pandemic’s boom, estimated to attract $2.5 billion+ in spending by 2025. With a formidable cash-rich parent, 1mg can now afford to turn the heat up on its rivals.

Big picture—the precision, diversification, and breadth of ambition shown by the geriatric looking Tata empire here is truly staggering and exactly representative of why some of India’s largest businesses have survived centuries of change.

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