BIGBASKET HARI MENON
BigBasket, Flipkart quicken delivery to counter quick-commerce
Tata Digital's BigBasket rebranded its slotted delivery service as "Supersaver" in January, promising sub-two-hour deliveries. Meanwhile, Walmart's Flipkart is offering with free same-day delivery across various categories in 20 cities.
Not in a hurry to add new categories; will focus on grocery: BigBasket CEO Hari Menon
Hari Menon told ET that BigBasket will only diversify into adjacent categories to grocery like kitchen and home appliances. Meanwhile, rivals such as Zomato-owned Blinkit and Mumbai-based Zepto are rapidly diversifying into newer categories.
BigBasket teams up with chef Sanjeev Kapoor to launch frozen food brand Precia
BigBasket partners with Sanjeev Kapoor to launch frozen foods brand Precia, featuring frozen vegetables, snacks, and sweets. Precia aims to achieve Rs 100 crore in online sales by 2026.
On ‘quick’ path to profitability: Challenges for quick commerce companies
Efforts to make commerce quick has seen spends on areas ranging from data science and technology to customer acquisition and retention. Companies are of the view that growth in the number of orders and subsequently their topline is what will make the bottomline improve.
Tata Digital’s consolidation play; Paytm turns compliance-first
Tata Digital also has plans to consolidate its various standalone apps, such as BigBasket, Tata 1mg, and Tata Cliq, under the Tata Neu app to improve consumer engagement and increase utilisation of the super app, whose slow take-off has been a cause of concern for the company.
Tata Digital explores operational integration
Additionally, Tata Digital plans to consolidate its various standalone apps such as BigBasket, 1mg, and Tata Cliq, under the Tata Neu app to increase consumer engagement, boost Tata Neu app utilisation, and enhance operational efficiencies. The flagship digital asset, BigBasket, is also looking to raise up to $100 million in funding from parent Tata Sons.
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Tata Digital to rejig top deck, hires new CEO to steer Cliq
Post Mukesh Bansal exit, another senior executive Shivcharan Pulugurtha has left the company.
HC orders trial in BigBasket, Town Essentials tussle
The issue pertains to BigBasket's acquisition of micro-delivery platform DailyNinja in March 2020.
Karnataka polls: Startup founders, VCs vote in Bengaluru for better infra and R&D
Startup promoters and investors also participated in the voting process. Venture-builder platform GrowthStory’s founder K Ganesh cast his vote in Indiranagar along with his 88-year old mother.
Rivals gain as Blinkit riders continue strike in NCR
Orders have surged 40% at Zepto, a top industry executive said, while two people associated with Swiggy said daily orders had jumped more than 25% for Instamart.
Exclusive | Reliance JioMart shutters its quick delivery service 'Express'
Users can no longer download the JioMart Express app from the Google Play Store, and its website is also inactive. Instead, it is directing users to try JioMart on WhatsApp where deliveries are taking at least a few hours or the next day as opposed to JioMart Express, which was a 90-minute delivery service.
Indian consumers in no rush for faster grocery deliveries: survey
Quick commerce was one of the hottest tech properties during the pandemic and the 10-minute grocery delivery business received widespread attention over the past two years. But 2022 saw most investors stay away from the cash-burning sector.
ETtech Long Read: Quick commerce may find it tough to bag new users, investors in 2023
The tough funding environment is taking a toll on the rapidly evolving quick commerce segment, and the year ahead could be about getting by with existing customers.
Exclusive | BigBasket raises $200 million from Tata Digital, others; valuation hits $3.2 billion
CEO Hari Menon outlines quick commerce expansion, bringing 1mg on its app . The funding takes e-grocer’s valuation to $3.2 billion.
ET Startup Awards 2022: Nykaa's Falguni Nayar is the CEO of the Year
Having founded Nykaa at the age of 50, she took on established ecommerce giants, hardly raised any venture capital, and turned profitable in a cash-guzzling sector to successfully take her company public last year.
ET Startup Awards: Nominees for CEO of the Year
In recognition of the deepening maturity of India's startup ecosystem -ranked among the top three worldwide, ET Startup Awards is introducing a new category - CEO of the Year.
BigBasket looks to raise $200 million at up to $3.5 billion valuation
“The company continues to grow 40% annually as projected earlier internally. This financial year ending March 2023, the company is expected to generate sales of $1.5 billion (net of discounts),” said one of the people cited above. ET had reported that it became the second vertical ecommerce player to have crossed gross sales of $1 billion in FY21.
Amid a 10-min rush, BigBasket plans one-hour delivery with more products on offer
The service will be launched next month and will be powered through the company’s 62 large-scale dark stores, cofounder and chief executive Hari Menon told ET. Delivery from these warehouses will be mostly through bikes.
BigBasket acquires Kerala-based startup Agrima Infotech
BigBasket will be implementing Kochi-based startup Agrima Infotech’s unique customer vision technology platform, Psyight, at the self-checkout counters of the former’s retail stores.
BigBasket to open 200 Fresho stores pan-India by FY23
The Bengaluru-based online grocer aims to increase that number to 800 stores by 2026, its cofounder and CEO Hari Menon said.
BigBasket founders get management stock grants, Bansal joins e-grocer's board
BigBasket's founders - Hari Menon, Vipul Parekh and VS Sudhakar - have been given a new set of 'management stock options' or Msops, following the acquisition by the group's digital arm Tata Digital, according to regulatory documents that ET has reviewed.
After Tata acquisition, BigBasket wants to go big on express deliveries
According to cofounders Hari Menon and Vipul Parekh, fresh initiatives and changes under the new owner would play out over the next few months at BigBasket, as Tata Group gets ready to launch its much-anticipated super app.
BigBasket gets first tranche of Tata cash at $2 billion valuation
Additionally, the Tata-Bigbasket deal has received the approval of the board of directors of the online grocery, whose largest shareholders — China's Alibaba Group and Actis LLP — have now exited the company.
Exclusive: BigBasket clocks $1.1 billion gross sales as pandemic fuels online grocery
That Tata Group-owned BigBasket is only the second vertical e-commerce player in India to achieve the milestone indicates the high-growth potential that online grocery has.
Resilience, doing more with less helped us during COVID-19: BigBasket CEO
BigBasket co-founder and CEO Hari Menon said the company hired over 12,000 persons in 16 days to meet the surge in demand as a large number of people started turning to digital platforms to shop for grocery items amid the lockdown.
Bigbasket hits annualised gross sale runrate of $1 billion
The Bengaluru-based company will become the second sector-focused online retailer after fashion portal Myntra, and horizontal e-tailers like Flipkart and Amazon India that sell all goods, to cross the billion-dollar sales mark. Myntra has a gross merchandise value (GMV) of over $2 billion.
‘Wait, keep your earnings going’: BigBasket’s Hari Menon’s advice to future startup founders
Menon said that future entrepreneurs should be cautious and wait until the current situation is under control before launching something new.
BigBasket gets $50 million more from Alibaba
While the commitment from Alibaba came through pre Covid-19 virus outbreak, the latest infusion comes at a time when BigBasket needs capital to up its capacity and build infrastructure to cope with a demand spike.
Amazon, Flipkart will take at least a year to build supply chain capabilities: BigBasket's Hari Menon
“This is very good for the sector and how modern trade grew and opened up a new way to shop,” Menon said, adding that as grocery extends beyond the high socioeconomic classes towards the midsection, the market will expand.
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