BigBasket: Difference between revisions
No edit summary Tags: Mobile edit Mobile web edit |
Reverting edit(s) by 2409:40E0:1:D921:B5AB:9B55:AEAF:8743 (talk) to rev. 1230085755 by Valereee: test edits (RW 16.1) |
||
(41 intermediate revisions by 25 users not shown) | |||
Line 5: | Line 5: | ||
| logo_size = |
| logo_size = |
||
| website = {{URL|https://bigbasket.com}} |
| website = {{URL|https://bigbasket.com}} |
||
| type = [[ |
| type = [[Subsidiary]] |
||
| founded = {{Start date and age|df=yes|2011|10|}} |
| founded = {{Start date and age|df=yes|2011|10|}} |
||
| hq_location_city = [[Bangalore]] |
| hq_location_city = [[Bangalore]] |
||
| hq_location_country = India |
| hq_location_country = India |
||
| founders = {{ |
| founders = {{Unbulleted_list|V. S. Sudhakar|Hari Menon|V. S. Ramesh|Vipul Parekh|Abhinay Choudhari<ref name=National1 />}} |
||
| industry = [[E-commerce]], [[Online shopping]] |
| industry = [[E-commerce]], [[Online shopping]] |
||
| services = [[Online grocer]] |
| services = [[Online grocer]] |
||
| key_people |
| key_people = {{Unbulleted_list|Hari Menon ([[CEO]])<ref name=Reuters.funding />|Vipul Parekh ([[CFO]])<ref name=Bloomberg.ipo />}} |
||
| revenue = {{increase}} {{INRConvert| |
| revenue = {{increase}} {{INRConvert|9695|c}} (FY23)<ref name="Revenue"/> |
||
| net_income = {{negative increase}} {{INRConvert|- |
| net_income = {{negative increase}} {{INRConvert|-1750|c}} (FY23)<ref name="Revenue">{{cite news |title=Tata Digital's revenue jumped 13X in FY23; losses widened at a slower pace |url=https://www.moneycontrol.com/news/business/earnings/tata-digitals-revenue-jumped-13x-in-fy23-losses-widened-at-a-slower-pace-11134951.html |access-date=9 August 2023 |work=Moneycontrol |date=9 August 2023 |language=en |archive-date=11 August 2023 |archive-url=https://web.archive.org/web/20230811021323/https://www.moneycontrol.com/news/business/earnings/tata-digitals-revenue-jumped-13x-in-fy23-losses-widened-at-a-slower-pace-11134951.html |url-status=live }}</ref> |
||
| num_employees = |
| num_employees = |
||
| divisions = {{ubl|BB Daily<ref>{{cite news |last1=Vardhan |first1=Jai |title=BigBasket enters microdelivery space: Will it outlast Milkbasket and DailyNinja? |url=https://entrackr.com/2018/10/bigbasket-milkbasket-dailyninja/ |access-date=9 March 2023 |work=Entrackr |date=25 October 2018}}</ref>|BB Instant<ref>{{cite news |agency=[[Press Trust of India]] |title=BigBasket to invest $100 mn to set up vending machines, distribution points |url=https://www.business-standard.com/article/pti-stories/bigbasket-to-invest-100mn-to-strengthen-supply-chain-119042800327_1.html |access-date=9 March 2023 |work=Business Standard |date=28 April 2019 |language=en}}</ref>|BB Now<ref>{{cite news |last1=Mishra |first1=Digbijay |title=BigBasket jumps into buzzy quick delivery segment; will bring all grocery services in one app |url=https://economictimes.indiatimes.com/tech/startups/bigbasket-jumps-into-buzzy-quick-delivery-segment-will-bring-all-grocery-services-in-one-app/articleshow/87896466.cms |access-date=9 March 2023 |work=The Economic Times |date=25 November 2021}}</ref>}} |
| divisions = {{ubl|BB Daily<ref>{{cite news |last1=Vardhan |first1=Jai |title=BigBasket enters microdelivery space: Will it outlast Milkbasket and DailyNinja? |url=https://entrackr.com/2018/10/bigbasket-milkbasket-dailyninja/ |access-date=9 March 2023 |work=Entrackr |date=25 October 2018 |archive-date=9 March 2023 |archive-url=https://web.archive.org/web/20230309133233/https://entrackr.com/2018/10/bigbasket-milkbasket-dailyninja/ |url-status=live }}</ref>|BB Instant<ref>{{cite news |agency=[[Press Trust of India]] |title=BigBasket to invest $100 mn to set up vending machines, distribution points |url=https://www.business-standard.com/article/pti-stories/bigbasket-to-invest-100mn-to-strengthen-supply-chain-119042800327_1.html |access-date=9 March 2023 |work=Business Standard |date=28 April 2019 |language=en |archive-date=9 March 2023 |archive-url=https://web.archive.org/web/20230309133217/https://www.business-standard.com/article/pti-stories/bigbasket-to-invest-100mn-to-strengthen-supply-chain-119042800327_1.html |url-status=live }}</ref>|BB Now<ref>{{cite news |last1=Mishra |first1=Digbijay |title=BigBasket jumps into buzzy quick delivery segment; will bring all grocery services in one app |url=https://economictimes.indiatimes.com/tech/startups/bigbasket-jumps-into-buzzy-quick-delivery-segment-will-bring-all-grocery-services-in-one-app/articleshow/87896466.cms |access-date=9 March 2023 |work=The Economic Times |date=25 November 2021 |archive-date=9 March 2023 |archive-url=https://web.archive.org/web/20230309133217/https://economictimes.indiatimes.com/tech/startups/bigbasket-jumps-into-buzzy-quick-delivery-segment-will-bring-all-grocery-services-in-one-app/articleshow/87896466.cms |url-status=live }}</ref>}} |
||
| brands = {{hlist|Fresho|BB Royal|BB Popular|BB Home|GoodDiet<ref>{{cite news |title=Grocery Retail - Changing landscape |url=https://www.motilaloswal.com/site/rreports/637586596663262698.pdf |access-date=7 June 2023 |work=Motilal Oswal}}</ref>|HappyChef|Tasties<ref>{{cite news |title=Big Basket to strengthen private brands: Hari Menon |url=https://timesofindia.indiatimes.com/business/india-business/big-basket-to-strengthen-private-brands-hari-menon/articleshow/54355775.cms |access-date=7 June 2023 |work=The Times of India |date=16 September 2016}}</ref>}} |
| brands = {{hlist|Fresho|BB Royal|BB Popular|BB Home|GoodDiet<ref>{{cite news |title=Grocery Retail - Changing landscape |url=https://www.motilaloswal.com/site/rreports/637586596663262698.pdf |access-date=7 June 2023 |work=Motilal Oswal |archive-date=7 June 2023 |archive-url=https://web.archive.org/web/20230607054617/https://www.motilaloswal.com/site/rreports/637586596663262698.pdf |url-status=live }}</ref>|HappyChef|Tasties<ref>{{cite news |title=Big Basket to strengthen private brands: Hari Menon |url=https://timesofindia.indiatimes.com/business/india-business/big-basket-to-strengthen-private-brands-hari-menon/articleshow/54355775.cms |access-date=7 June 2023 |work=The Times of India |date=16 September 2016 |archive-date=7 June 2023 |archive-url=https://web.archive.org/web/20230607054614/https://timesofindia.indiatimes.com/business/india-business/big-basket-to-strengthen-private-brands-hari-menon/articleshow/54355775.cms |url-status=live }}</ref>}} |
||
| parent = |
| parent = Tata Digital |
||
| area_served = India |
| area_served = India |
||
}} |
}} |
||
'''BigBasket''' is an Indian online grocer headquartered in [[Bangalore]], India, and currently owned by [[Tata Group]].<ref name=National1 /> It is a registered company with name |
'''BigBasket''' is an Indian online grocer headquartered in [[Bangalore]], India, and currently owned by [[List of entities associated with Tata Group|Tata Digital]].<ref name=National1 /> It was the first online grocer in India, set up in 2011. It is a registered company with the name '''Supermarket Grocery Supplies Pvt. Ltd.'''<ref name=Bloomberg.how /> |
||
{{As of|January 2023}}, the company operates in more than 30 cities in India and processes around 15 million orders per month.<ref name=National1 /> |
{{As of|January 2023}}, the company operates in more than 30 cities in India and processes around 15 million orders per month.<ref name=National1 /> |
||
Line 30: | Line 30: | ||
== History == |
== History == |
||
BigBasket began as a tech [[startup company]], founded in |
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.<ref name=Bloomberg.how /> |
||
In 2015, Bigbasket acquired the [[hyperlocal]] delivery company Delyver to build its [[Last mile (transportation)|last-mile]] delivery network.<ref>{{cite news |last1=Chakraborty |first1=Sayan |title=BigBasket acquires Delyver in cash-stock deal |url=https://www.livemint.com/Companies/3858DNzqTY6oQdJMeeaV1J/BigBasket-acquires-Delyver-in-cashstock-deal.html |access-date=27 August 2023 |work=[[Mint (newspaper)|Mint]] |date=13 June 2015 |language=en |url-status=live |archive-date=17 July 2015 |archive-url=https://web.archive.org/web/20150717045747/https://www.livemint.com/Companies/3858DNzqTY6oQdJMeeaV1J/BigBasket-acquires-Delyver-in-cashstock-deal.html}}</ref> |
|||
⚫ | By mid-2016, Bigbasket was operating in eight large Indian cities and had grown to become India's biggest e-grocer.<ref name=Bloomberg.how /> 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.<ref name=Bloomberg.how /> |
||
⚫ | By mid-2016, Bigbasket was operating in eight large Indian cities and had grown to become India's biggest e-grocer.<ref name=Bloomberg.how /> 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 [[Refrigeration|refrigerated]] warehouses and a fleet of temperature-controlled trucks to deliver fresh to the door.<ref name=Bloomberg.how /><ref>{{cite news |last1=Dutta Choudhury |first1=Sonya |title=What's behind the basket? |url=https://www.livemint.com/Leisure/9t02bTKYMoCkor48gkHYgJ/Whats-behind-the-basket.html |access-date=27 August 2023 |work=[[Mint (newspaper)|Mint]] |date=5 September 2015 |language=en |url-status=live |archive-date=27 September 2015 |archive-url=https://web.archive.org/web/20150927140627/https://www.livemint.com/Leisure/9t02bTKYMoCkor48gkHYgJ/Whats-behind-the-basket.html}}</ref> |
||
China's [[Alibaba Group]] led a $300 million funding round in early 2018 to become the main shareholder in the company,<ref name=Reuters.funding /> taking the online grocer's valuation up to $950 million.<ref name=Bloomberg.how /> By May 2019, BigBasket was operating across 25 Indian cities,<ref name=Reuters.funding /> and became India's newest '[[Unicorn (finance)|unicorn]]' (a startup valued at more than $1 billion) by raising $150 million in a new funding round led by [[Mirae Asset]]-[[Naver Corporation|Naver Asia]] Growth Fund, the [[CDC Group]] and Alibaba.<ref name=techcrunch.unicorn /> |
China's [[Alibaba Group]] led a $300 million funding round in early 2018 to become the main shareholder in the company,<ref name=Reuters.funding /> taking the online grocer's valuation up to $950 million.<ref name=Bloomberg.how /> By May 2019, BigBasket was operating across 25 Indian cities,<ref name=Reuters.funding /> and became India's newest '[[Unicorn (finance)|unicorn]]' (a startup valued at more than $1 billion) by raising $150 million in a new funding round led by [[Mirae Asset]]-[[Naver Corporation|Naver Asia]] Growth Fund, the [[CDC Group]] and Alibaba.<ref name=techcrunch.unicorn /> |
||
In October 2020, BigBasket suffered a [[Data breaches in India|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.<ref>{{Cite web |date=2020-11-08 |title=Bigbasket faces potential data breach; details of 2 crore users put on sale on dark web |url=https://indianexpress.com/article/business/business-others/bigbasket-data-breach-user-details-leaked-dark-web-cyber-crime-7009578/ |access-date=2023-06-27 |website=The Indian Express |language=en}}</ref> |
In October 2020, BigBasket suffered a [[Data breaches in India|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.<ref>{{Cite web |date=2020-11-08 |title=Bigbasket faces potential data breach; details of 2 crore users put on sale on dark web |url=https://indianexpress.com/article/business/business-others/bigbasket-data-breach-user-details-leaked-dark-web-cyber-crime-7009578/ |access-date=2023-06-27 |website=The Indian Express |language=en |archive-date=2023-06-27 |archive-url=https://web.archive.org/web/20230627191854/https://indianexpress.com/article/business/business-others/bigbasket-data-breach-user-details-leaked-dark-web-cyber-crime-7009578/ |url-status=live }}</ref> |
||
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 in India|COVID-19 pandemic]] and by the start of 2022, BigBasket was processing over 7 million orders per month.<ref name="BS18" /> |
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 in India|COVID-19 pandemic]] and by the start of 2022, BigBasket was processing over 7 million orders per month.<ref name="BS18" /> |
||
[[Tata Group]] became the owner of BigBasket in May 2021 when its Tata Digital subsidiary acquired a 64% majority stake in the company.<ref name=economictimes.tata /> 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.<ref name=National1 /><ref name=Bloomberg.ipo /> |
[[Tata Group]] became the owner of BigBasket in May 2021, when its Tata Digital subsidiary acquired a 64% majority stake in the company.<ref name=economictimes.tata /> 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.<ref name=National1 /><ref name=Bloomberg.ipo /> |
||
⚫ | According to [[CEO]] Vipul Parekh, over one-third of the company's revenue comes from its [[private label]] products.<ref>{{cite news |last1=Soni |first1=Yatti |title=BigBasket eyes expansion into 450 towns by end March |url=https://www.thehindubusinessline.com/companies/bigbasket-eyes-expansion-into-450-towns-by-end-march/article66330433.ece |access-date=9 March 2023 |work=The Hindu Businessline |date=2 January 2023 |language=en |archive-date=9 March 2023 |archive-url=https://web.archive.org/web/20230309132056/https://www.thehindubusinessline.com/companies/bigbasket-eyes-expansion-into-450-towns-by-end-march/article66330433.ece |url-status=live }}</ref> |
||
==Products== |
|||
⚫ | |||
==Offline retail== |
==Offline retail== |
||
On 24 November 2021, BigBasket opened its first physical store, branded 'Fresho', primarily for the sale of fresh fruit and vegetables |
On 24 November 2021, BigBasket opened its first physical store, branded 'Fresho', primarily for the sale of fresh fruit and vegetables, in Bangalore.<ref name=BS18 /><ref name=Times.physical /> |
||
==See also== |
==See also== |
||
*[[Tata Neu]] |
*[[Tata Neu]] |
||
*[[List of online grocers]] |
|||
*[[E-commerce in India]] |
*[[E-commerce in India]] |
||
Line 56: | Line 56: | ||
{{Reflist|30em|refs= |
{{Reflist|30em|refs= |
||
<ref name=National1>{{Cite web|url=https://www.thenationalnews.com/business/technology/2023/01/02/how-indias-largest-online-grocer-aims-to-win-the-ecommerce-race/ |title=How India's largest online grocer aims to win the e-commerce race |date=2 January 2023 |access-date=3 February 2023 |last=Bundhun |first=Rebecca |work=[[The National (Abu Dhabi)|The National]]}}</ref> |
<ref name=National1>{{Cite web |url=https://www.thenationalnews.com/business/technology/2023/01/02/how-indias-largest-online-grocer-aims-to-win-the-ecommerce-race/ |title=How India's largest online grocer aims to win the e-commerce race |date=2 January 2023 |access-date=3 February 2023 |last=Bundhun |first=Rebecca |work=[[The National (Abu Dhabi)|The National]] |archive-date=3 February 2023 |archive-url=https://web.archive.org/web/20230203103652/https://www.thenationalnews.com/business/technology/2023/01/02/how-indias-largest-online-grocer-aims-to-win-the-ecommerce-race/ |url-status=live }}</ref> |
||
<ref name=Bloomberg.ipo>{{Cite web|url=https://www.bloomberg.com/news/articles/2022-12-21/tata-s-bigbasket-eyes-ipo-by-2025-after-200-million-fundraising |
<ref name=Bloomberg.ipo>{{Cite web |url=https://www.bloomberg.com/news/articles/2022-12-21/tata-s-bigbasket-eyes-ipo-by-2025-after-200-million-fundraising |title=Tata's Bigbasket Eyes IPO by 2025 After $200 Million Funding |date=21 December 2022 |last=Kay |first=Chris |work=[[Bloomberg News]] |access-date=3 February 2023 |url-access=registration |archive-date=5 March 2023 |archive-url=https://web.archive.org/web/20230305075228/https://www.bloomberg.com/news/articles/2022-12-21/tata-s-bigbasket-eyes-ipo-by-2025-after-200-million-fundraising |url-status=live }}</ref> |
||
<ref name=Reuters.funding>{{Cite web|url=https://www.reuters.com/article/alibaba-bigbasket-funding-idINKCN1SC0P5 |title=Bigbasket valued at over $1 billion in fresh funding round |date=6 May 2019 |last=Thomas |first=Chris |website=reuters.com |access-date=4 February 2023}}</ref> |
<ref name=Reuters.funding>{{Cite web |url=https://www.reuters.com/article/alibaba-bigbasket-funding-idINKCN1SC0P5 |title=Bigbasket valued at over $1 billion in fresh funding round |date=6 May 2019 |last=Thomas |first=Chris |website=reuters.com |access-date=4 February 2023 |archive-date=4 February 2023 |archive-url=https://web.archive.org/web/20230204172248/https://www.reuters.com/article/alibaba-bigbasket-funding-idINKCN1SC0P5 |url-status=live }}</ref> |
||
<ref name=Times.physical>{{Cite web|url=https://timesofindia.indiatimes.com/business/india-business/bigbasket-opens-1st-physical-store-targets-800-in-5-years/articleshow/87899495.cms |title=BigBasket opens 1st physical store, targets 800 in 5 years |last=Phadnis |first=Shilpa |date=25 November 2021 |website=[[The Times of India]] |access-date=8 February 2023}}</ref> |
<ref name=Times.physical>{{Cite web |url=https://timesofindia.indiatimes.com/business/india-business/bigbasket-opens-1st-physical-store-targets-800-in-5-years/articleshow/87899495.cms |title=BigBasket opens 1st physical store, targets 800 in 5 years |last=Phadnis |first=Shilpa |date=25 November 2021 |website=[[The Times of India]] |access-date=8 February 2023 |archive-date=25 September 2022 |archive-url=https://web.archive.org/web/20220925195632/https://timesofindia.indiatimes.com/business/india-business/bigbasket-opens-1st-physical-store-targets-800-in-5-years/articleshow/87899495.cms |url-status=live }}</ref> |
||
<ref name=BS18>{{Cite web|url=https://www.business-standard.com/article/companies/bigbasket-establishes-presence-in-18-tier-2-and-3-cities-across-india-122020201023_1.html |title=BigBasket establishes presence in 18 tier-2 and 3 cities across India |date=2 February 2022 |access-date=8 February 2023 |website=[[Business Standard]] |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20220204012935/https://www.business-standard.com/article/companies/bigbasket-establishes-presence-in-18-tier-2-and-3-cities-across-india-122020201023_1.html |archive-date=4 February 2022}}</ref> |
<ref name=BS18>{{Cite web|url=https://www.business-standard.com/article/companies/bigbasket-establishes-presence-in-18-tier-2-and-3-cities-across-india-122020201023_1.html |title=BigBasket establishes presence in 18 tier-2 and 3 cities across India |date=2 February 2022 |access-date=8 February 2023 |website=[[Business Standard]] |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20220204012935/https://www.business-standard.com/article/companies/bigbasket-establishes-presence-in-18-tier-2-and-3-cities-across-india-122020201023_1.html |archive-date=4 February 2022}}</ref> |
||
Line 68: | Line 68: | ||
<ref name=Bloomberg.how>{{Cite web|url=https://www.bloomberg.com/news/articles/2018-03-19/alibaba-backed-grocery-startup-battles-amazon-in-india |title=How Dotcom Survivors Built a $950 Million Startup in India |date=19 March 2018 |last=Rai |first=Saritha |work=[[Bloomberg News]] |url-access=registration |archive-date=20 March 2018 |archive-url=https://web.archive.org/web/20180320023020/https://www.bloomberg.com/news/articles/2018-03-19/alibaba-backed-grocery-startup-battles-amazon-in-india |url-status=live}}</ref> |
<ref name=Bloomberg.how>{{Cite web|url=https://www.bloomberg.com/news/articles/2018-03-19/alibaba-backed-grocery-startup-battles-amazon-in-india |title=How Dotcom Survivors Built a $950 Million Startup in India |date=19 March 2018 |last=Rai |first=Saritha |work=[[Bloomberg News]] |url-access=registration |archive-date=20 March 2018 |archive-url=https://web.archive.org/web/20180320023020/https://www.bloomberg.com/news/articles/2018-03-19/alibaba-backed-grocery-startup-battles-amazon-in-india |url-status=live}}</ref> |
||
<ref name=techcrunch.unicorn>{{Cite web|url=https://techcrunch.com/2019/05/06/grocery-startup-bigbasket-becomes-indians-newest-unicorn-with-new-150m-investment/ |title=Grocery startup BigBasket becomes India's newest unicorn with new $150M investment |last=Singh |first=Manish |date=6 May 2019 |website=[[TechCrunch]] |access-date=18 February 2023}}</ref> |
<ref name=techcrunch.unicorn>{{Cite web |url=https://techcrunch.com/2019/05/06/grocery-startup-bigbasket-becomes-indians-newest-unicorn-with-new-150m-investment/ |title=Grocery startup BigBasket becomes India's newest unicorn with new $150M investment |last=Singh |first=Manish |date=6 May 2019 |website=[[TechCrunch]] |access-date=18 February 2023 |archive-date=18 February 2023 |archive-url=https://web.archive.org/web/20230218191509/https://techcrunch.com/2019/05/06/grocery-startup-bigbasket-becomes-indians-newest-unicorn-with-new-150m-investment/ |url-status=live }}</ref> |
||
<ref name=economictimes.tata>{{Cite web|url=https://economictimes.indiatimes.com/tech/startups/tata-says-acquired-a-majority-stake-in-online-grocery-bigbasket/articleshow/83029366.cms |title=Tata Digital buys 64% stake in BigBasket |date=28 May 2021 |work=[[The Economic Times]] |archive-date=10 June 2021 |archive-url=https://web.archive.org/web/20210610172712/https://economictimes.indiatimes.com/tech/startups/tata-says-acquired-a-majority-stake-in-online-grocery-bigbasket/articleshow/83029366.cms |url-access=subscription |url-status=live}}</ref> |
<ref name=economictimes.tata>{{Cite web|url=https://economictimes.indiatimes.com/tech/startups/tata-says-acquired-a-majority-stake-in-online-grocery-bigbasket/articleshow/83029366.cms |title=Tata Digital buys 64% stake in BigBasket |date=28 May 2021 |work=[[The Economic Times]] |archive-date=10 June 2021 |archive-url=https://web.archive.org/web/20210610172712/https://economictimes.indiatimes.com/tech/startups/tata-says-acquired-a-majority-stake-in-online-grocery-bigbasket/articleshow/83029366.cms |url-access=subscription |url-status=live}}</ref> |
||
<ref name=Times.ipo>{{Cite web|url=https://www.indiatimes.com/worth/news/tata-group-backed-bigbasket-ipo-by-2025-588257.html |title=Tata Group Backed BigBasket Eyes IPO By 2025 After $200 Million Funding Takes Its Valuation To $3.2 Billion |date=22 December 2022 |last=Gautam |first=Vanya |work=[[The Times of India]] |access-date=5 March 2023}}</ref> |
<ref name=Times.ipo>{{Cite web |url=https://www.indiatimes.com/worth/news/tata-group-backed-bigbasket-ipo-by-2025-588257.html |title=Tata Group Backed BigBasket Eyes IPO By 2025 After $200 Million Funding Takes Its Valuation To $3.2 Billion |date=22 December 2022 |last=Gautam |first=Vanya |work=[[The Times of India]] |access-date=5 March 2023 |archive-date=5 March 2023 |archive-url=https://web.archive.org/web/20230305074625/https://www.indiatimes.com/worth/news/tata-group-backed-bigbasket-ipo-by-2025-588257.html |url-status=live }}</ref> |
||
}} |
}} |
||
Line 82: | Line 82: | ||
[[Category:Indian companies established in 2011]] |
[[Category:Indian companies established in 2011]] |
||
[[Category:Retail companies established in 2011]] |
[[Category:Retail companies established in 2011]] |
||
[[Category: |
[[Category:Companies based in Bangalore]] |
||
[[Category:Tata Group]] |
Latest revision as of 04:53, 1 July 2024
Company type | Subsidiary |
---|---|
Industry | E-commerce, Online shopping |
Founded | October 2011 |
Founders |
|
Headquarters | , India |
Area served | India |
Key people | |
Brands | |
Services | Online grocer |
Revenue | |
Parent | Tata Digital |
Divisions | |
Website | bigbasket |
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 the name Supermarket Grocery Supplies Pvt. Ltd.[10]
As of January 2023[update], 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[edit]
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]
According to CEO Vipul Parekh, over one-third of the company's revenue comes from its private label products.[18]
Offline retail[edit]
On 24 November 2021, BigBasket opened its first physical store, branded 'Fresho', primarily for the sale of fresh fruit and vegetables, in Bangalore.[16][19]
See also[edit]
References[edit]
- ^ a b c d 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.
- ^ a b c 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.
- ^ a b c 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.
- ^ "Grocery Retail - Changing landscape" (PDF). Motilal Oswal. Archived (PDF) from the original on 7 June 2023. Retrieved 7 June 2023.
- ^ "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.
- ^ a b "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.
- ^ 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.
- ^ "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.
- ^ 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.
- ^ a b c d e 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.
- ^ 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.
- ^ Chakraborty, Sayan (13 June 2015). "BigBasket acquires Delyver in cash-stock deal". Mint. Archived from the original on 17 July 2015. Retrieved 27 August 2023.
- ^ Dutta Choudhury, Sonya (5 September 2015). "What's behind the basket?". Mint. Archived from the original on 27 September 2015. Retrieved 27 August 2023.
- ^ 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.
- ^ "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.
- ^ a b "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.
- ^ "Tata Digital buys 64% stake in BigBasket". The Economic Times. 28 May 2021. Archived from the original on 10 June 2021.
- ^ 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.
- ^ 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.