BigBasket

Last updated
BigBasket
Type Subsidiary
Industry E-commerce, Online shopping
FoundedOctober 2011;12 years ago (2011-10)
Founders
  • V. S. Sudhakar
  • Hari Menon
  • V. S. Ramesh
  • Vipul Parekh
  • Abhinay Choudhari [1]
Headquarters
Bangalore
,
India
Area served
India
Key people
Brands
  • Fresho
  • BB Royal
  • BB Popular
  • BB Home
  • GoodDiet [4]
  • HappyChef
  • Tasties [5]
Services Online grocer
RevenueIncrease2.svg₹9,695 crore (US$1.2 billion) (FY23) [6]
Increase Negative.svg₹−1,750 crore (US$−220 million) (FY23) [6]
Parent Tata Digital
Divisions
Website bigbasket.com

BigBasket is an Indian online grocer headquartered in Bangalore, India, and currently owned by Tata Digital. [1] It was the first online grocer in India, set up in 2011. It is a registered company with name as the Supermarket Grocery Supplies Pvt. Ltd. [10]

Contents

As of January 2023, the company operates in more than 30 cities in India and processes around 15 million orders per month. [1]

According to Bloomberg News, BigBasket is considering an initial public offering by 2025 as part of its growth plans. [3] [11]

History

BigBasket began as a tech startup company, founded in December 2011 by five entrepreneurs who had survived the dot-com crash of the early 2000s. The startup was initially funded by private equity investor Ascent Capital (Bangalore) with a capital injection of $10 million. [10]

In 2015, Bigbasket acquired the hyperlocal delivery company Delyver to build its last-mile delivery network. [12]

By mid-2016, Bigbasket was operating in eight large Indian cities and had grown to become India's biggest e-grocer. [10] The company's unique selling point was delivery of fresh produce, based on the purchase of fruit and vegetables from local marketplaces each morning, storage in refrigerated warehouses and a fleet of temperature-controlled trucks to deliver fresh to the door. [10] [13]

China's Alibaba Group led a $300 million funding round in early 2018 to become the main shareholder in the company, [2] taking the online grocer's valuation up to $950 million. [10] By May 2019, BigBasket was operating across 25 Indian cities, [2] and became India's newest 'unicorn' (a startup valued at more than $1 billion) by raising $150 million in a new funding round led by Mirae Asset-Naver Asia Growth Fund, the CDC Group and Alibaba. [14]

In October 2020, BigBasket suffered a data breach exposing the data of more than 20 million users, which included email, IP and physical addresses, names, phones numbers, dates of birth and passwords. [15]

The company was valued at around $1.85 billion in May 2021. Demand for online grocery shopping increased considerably in the wake of the COVID-19 pandemic and by the start of 2022, BigBasket was processing over 7 million orders per month. [16]

Tata Group became the owner of BigBasket in May 2021, when its Tata Digital subsidiary acquired a 64% majority stake in the company. [17] In January 2023, BigBasket received a $200 million injection from investors, including majority shareholder Tata Digital, taking the company valuation up to $3.2 billion. [1] [3]

Products

BigBasket offers tens of thousands of different products, including fruits and vegetables, meats, spices, toiletries, baby products and pet food. [2] [16] According to CEO Vipul Parekh, over one-third of the company's revenue comes from its private label products. [18]

Offline retail

On 24 November 2021, BigBasket opened its first physical store, branded 'Fresho', primarily for the sale of fresh fruit and vegetables. Located in Bangalore, this was the first of many planned Fresho stores. [16] [19]

See also

Related Research Articles

<span class="mw-page-title-main">Flipkart</span> Indian e-commerce company

Flipkart Private Limited is an Indian e-commerce company, headquartered in Bangalore, and incorporated in Singapore as a private limited company. The company initially focused on online book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products.

India has an Internet user base of about 690.0 million as of November 2023, about 40% of the population. Despite being the second-largest user base in world, only behind China, the penetration of e-commerce is low compared to markets like the United States, or France, but is growing, adding around 6 million new entrants every month. The industry consensus is that growth is at an inflection point.

Zomato is an Indian multinational restaurant aggregator and food delivery company. It was founded by Deepinder Goyal and Pankaj Chaddah in 2008. Zomato provides information, menus and user-reviews of restaurants as well as food delivery options from partner restaurants in more than 1,000 Indian cities and towns, as of 2022–23. Zomato rivals Swiggy in food delivery and hyperlocal space.

<span class="mw-page-title-main">Stripe, Inc.</span> Irish-American payment technology company

Stripe, Inc. is an Irish-American multinational financial services and software as a service (SaaS) company dual-headquartered in South San Francisco, California, United States and Dublin, Ireland. The company primarily offers payment-processing software and application programming interfaces for e-commerce websites and mobile applications.

<span class="mw-page-title-main">Blinkit</span> Indian e-commerce delivery company

Blink Commerce Private Limited, d/b/a Blinkit and formerly Grofers, is an Indian instant delivery service. It was founded in December 2013 and is based out of Gurgaon.

<span class="mw-page-title-main">Paytm</span> Indian financial technology company

Paytm is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida, India. It was founded in 2010 by Vijay Shekhar Sharma under One97 Communications. The company offers mobile payment services to consumers and enables merchants to receive payments through its QR code, Payment Soundbox, Android based-point of sale machine and online payment gateway offerings. In partnership with financial institutions, Paytm offers financial services such as microloans and buy now, pay later to its consumers and merchants. Apart from bill payments and money transfer, the company also provides ticketing services, retail brokerage products and online games.

<span class="mw-page-title-main">Food delivery</span> Courier service in which food is delivered to a customer

Food delivery is a courier service in which a restaurant, store, or independent food-delivery company delivers food to a customer. An order is typically made either through a restaurant or grocer's website or mobile app, or through a food ordering company. The delivered items can include entrees, sides, drinks, desserts, or grocery items and are typically delivered in boxes or bags. The delivery person will normally drive a car, but in bigger cities where homes and restaurants are closer together, they may use bikes or motorized scooters.

<span class="mw-page-title-main">Bolt (company)</span> Peer-to-peer ridesharing, food delivery

Bolt is an Estonian mobility company that offers ride-hailing, micromobility rental, food and grocery delivery, and carsharing services. The company is headquartered in Tallinn and operates in over 500 cities in more than 45 countries in Europe, Africa, Western Asia and Latin America. The company has more than 150 million customers and more than 3 million driver and courier partners. The company has plans for an initial public offering in 2025.

Gopuff Digital delivery service

Gopuff, legally GoBrands, Inc., is an American consumer goods and food delivery company headquartered in Philadelphia. The company operates in more than 650 US cities through approximately 500 microfulfillment centers as of October 2021. It also operates in the United Kingdom, following a takeover of Newcastle upon Tyne-based Fancy. As of July 2021, the company was valued at $15 billion.

Byju's is an Indian multinational educational technology company, headquartered in Bangalore. It was founded in 2011 by Byju Raveendran and Divya Gokulnath. As of Sept 2023, Byju's was valued at $5.1 billion. As of April 2023, the company claims to have over 150 million registered students.

Nuro, Inc. is an American robotics company based in Mountain View, California. Founded by Jiajun Zhu and Dave Ferguson, Nuro develops autonomous delivery vehicles and is the first company to receive an autonomous exemption from the National Highway Traffic Safety Administration.

Dunzo is an Indian company that delivers fruits and vegetables, meat, pet supplies, food, and medicines in major cities. It also has a separate service to pick up and deliver packages within the same city. Dunzo currently provides its delivery services in eight Indian cities including Bangalore, Delhi, Gurgaon, Pune, Chennai, Jaipur, Mumbai and Hyderabad. The company also operates a bike taxi service in Gurgaon. Dunzo is headquartered in Bangalore and was founded in 2014 by Kabeer Biswas along with co-founders Ankur Agarwal, Dalvir Suri and Mukund Jha. Dalvir Suri left Dunzo on 3 October 2023, along with Mukund Jha.

Swiggy is an Indian online food ordering and delivery platform. Founded in 2014, Swiggy is headquartered in Bangalore and operates in more than 500 Indian cities as of September 2021. Besides food delivery, the platform also provides on-demand grocery deliveries under the name Instamart, and same-day package delivery service called Swiggy Genie.

<span class="mw-page-title-main">Jio Platforms</span> Indian multinational technology company

Jio Platforms is an Indian multinational technology company, headquartered in Mumbai, Maharashtra, India. It is a subsidiary of Reliance Industries. Established in 2019, it acts as a holding company for India's largest mobile network operator, Jio, and other digital businesses of Reliance.

<span class="mw-page-title-main">Getir</span> Turkish on-demand food and grocery delivery start-up

Getir is a Turkish company operating in several countries founded as a startup company in 2015 that offers on-demand delivery services for grocery items and a courier service for restaurant food deliveries, accessed via a mobile app.

<span class="mw-page-title-main">Cred (company)</span> Indian financial services company

CRED is an Indian fintech company. It is based in Bangalore. Founded in 2018 by Kunal Shah, it is a reward-based credit card payments app. Cred also lets users make house rent payments and provides short-term credit lines. Cred has received criticism for being overvalued and lacking a sound monetization strategy.

<span class="mw-page-title-main">Gorillas (company)</span> Grocery delivery company

Gorillas is a German ultrafast grocery delivery company which uses dark stores. Users order grocery products through an app.

<span class="mw-page-title-main">Ola Electric</span> Electric motor scooter manufacturer India

Ola Electric Mobility is an Indian electric two-wheeler manufacturer, based in Bengaluru, Karnataka, India. It is India's largest electric two-wheeler manufacturer valued around US$5.4 billion as of September 2023. It has a manufacturing facility located in Krishnagiri, Tamil Nadu which is India's largest two-wheeler EV manufacturing factory.

<span class="mw-page-title-main">One97 Communications</span> Indian multinational technology company

One97 Communications Ltd is an Indian multinational technology company, headquartered in Noida, India. It was founded in 2000 by Vijay Shekhar Sharma. Through its subsidiaries and businesses, the company offers digital payment and financial services to consumers and merchants in India. It also provides mobile advertising, marketing and payments for merchants.

References

  1. 1 2 3 4 Bundhun, Rebecca (2 January 2023). "How India's largest online grocer aims to win the e-commerce race". The National . Archived from the original on 3 February 2023. Retrieved 3 February 2023.
  2. 1 2 3 4 Thomas, Chris (6 May 2019). "Bigbasket valued at over $1 billion in fresh funding round". reuters.com. Archived from the original on 4 February 2023. Retrieved 4 February 2023.
  3. 1 2 3 Kay, Chris (21 December 2022). "Tata's Bigbasket Eyes IPO by 2025 After $200 Million Funding" . Bloomberg News . Archived from the original on 5 March 2023. Retrieved 3 February 2023.
  4. ↑ "Grocery Retail - Changing landscape" (PDF). Motilal Oswal. Archived (PDF) from the original on 7 June 2023. Retrieved 7 June 2023.
  5. ↑ "Big Basket to strengthen private brands: Hari Menon". The Times of India. 16 September 2016. Archived from the original on 7 June 2023. Retrieved 7 June 2023.
  6. 1 2 "Tata Digital's revenue jumped 13X in FY23; losses widened at a slower pace". Moneycontrol. 9 August 2023. Archived from the original on 11 August 2023. Retrieved 9 August 2023.
  7. ↑ Vardhan, Jai (25 October 2018). "BigBasket enters microdelivery space: Will it outlast Milkbasket and DailyNinja?". Entrackr. Archived from the original on 9 March 2023. Retrieved 9 March 2023.
  8. ↑ "BigBasket to invest $100 mn to set up vending machines, distribution points". Business Standard. Press Trust of India. 28 April 2019. Archived from the original on 9 March 2023. Retrieved 9 March 2023.
  9. ↑ Mishra, Digbijay (25 November 2021). "BigBasket jumps into buzzy quick delivery segment; will bring all grocery services in one app". The Economic Times. Archived from the original on 9 March 2023. Retrieved 9 March 2023.
  10. 1 2 3 4 5 Rai, Saritha (19 March 2018). "How Dotcom Survivors Built a $950 Million Startup in India" . Bloomberg News . Archived from the original on 20 March 2018.
  11. ↑ Gautam, Vanya (22 December 2022). "Tata Group Backed BigBasket Eyes IPO By 2025 After $200 Million Funding Takes Its Valuation To $3.2 Billion". The Times of India . Archived from the original on 5 March 2023. Retrieved 5 March 2023.
  12. ↑ Chakraborty, Sayan (13 June 2015). "BigBasket acquires Delyver in cash-stock deal". mint. Retrieved 27 August 2023.
  13. ↑ Dutta Choudhury, Sonya (5 September 2015). "What's behind the basket?". mint. Retrieved 27 August 2023.
  14. ↑ Singh, Manish (6 May 2019). "Grocery startup BigBasket becomes India's newest unicorn with new $150M investment". TechCrunch . Archived from the original on 18 February 2023. Retrieved 18 February 2023.
  15. ↑ "Bigbasket faces potential data breach; details of 2 crore users put on sale on dark web". The Indian Express. 2020-11-08. Archived from the original on 2023-06-27. Retrieved 2023-06-27.
  16. 1 2 3 "BigBasket establishes presence in 18 tier-2 and 3 cities across India" . Business Standard . 2 February 2022. Archived from the original on 4 February 2022. Retrieved 8 February 2023.
  17. ↑ "Tata Digital buys 64% stake in BigBasket" . The Economic Times . 28 May 2021. Archived from the original on 10 June 2021.
  18. ↑ Soni, Yatti (2 January 2023). "BigBasket eyes expansion into 450 towns by end March". The Hindu Businessline. Archived from the original on 9 March 2023. Retrieved 9 March 2023.
  19. ↑ Phadnis, Shilpa (25 November 2021). "BigBasket opens 1st physical store, targets 800 in 5 years". The Times of India . Archived from the original on 25 September 2022. Retrieved 8 February 2023.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.