BigBasket
 | |
| Company type | Subsidiary |
|---|---|
| Industry | E-commerce, Online shopping |
| Founded | October 2011 |
| Founders |
|
| Headquarters | , India |
Area served | India |
Key people | |
| Brands | |
| Services | Online grocer |
| Revenue |  ₹9,695 crore (US$1.2 billion) (FY23)[6] |
 ₹−1,750 crore (US$−210 million) (FY23)[6] | |
| 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.