BigBasket
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| Private | |
| ISIN | 🆔 |
| Industry | Retail |
| Founded 📆 | December 2011 |
| Founders 👔 |
|
| Headquarters 🏙️ | Fairway Business Park, Embassy Golf Link, Challaghatta, , India[1] |
Area served 🗺️ | India |
| Services | Grocery Delivery |
| Owners | Tata Group (68%) |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
| Footnotes / references [2][3] | |
BigBasket (registered as, Supermarket Grocery Supplies Pvt. Ltd.) is an Indian online grocery delivery service.[4][5] The company primarily delivers grocery goods found in convenience stores, home essentials and food supplies to its customers. BigBasket was founded in December 2011 and has its headquarters in Bengaluru, India.[6][7]
History[edit]
BigBasket was founded by V. S. Sudhakar, Hari Menon, Vipul Parekh, Abhinay Choudhari and V. S. Ramesh in 2011.[8][9][10][11]
Before the establishment of BigBasket, four of its five founders, excluding Abhinay, were part of a group of six behind India's first online retail store called Fabmart.com, which launched in 1999. Fabmart.com sold music CDs and ventured into the sale of books, toys, computers, jewelry, watches, and groceries. Poor internet penetration rates, rare use of online payment methods and the dot-com bubble burst in 2002 later led to the establishment of Fabmall, which was a chain of physical retail stores. Two years later, Fabmall merged with Trinethra Super Retail and the new entity had about 150 stores when it got acquired in 2006 by Aditya Birla Group, which rebranded it as the supermarket store chain More.[12]
In March 2019, BigBasket raised US$150 million in investment from Mirae Asset, Alibaba Group and CDC Group giving the company a valuation of over US$1 billion.[13]
In March 2020, they acquired micro-delivery firm, DailyNinja.[14][15] As of June 2020, it was reported that BigBasket had hit the annualized gross sale run rate of US$1 billion and began selling about 18,000 products from over 300,000 orders received daily.
In February 2021, the Tata Group acquired a 64.3% stake in BigBasket for around ₹9,500 crore (US$1.3 billion).[16]
As of 2022, BigBasket caters mainly to tier 3 and tier 4 towns with its community group buying approach, wherein users can create groups through messaging and social media platforms to buy products at reduced prices. Reports also emerged in the same year that BigBasket plans to roll out an express delivery service called BB Now to focus more on quick commerce, wherein goods are delivered within 15 to 30 minutes upon the placement of orders.[17][18]
In February 2022, BigBasket acquired Kerala based deep-tech startup Agrima Infotech for undisclosed amount.[19] The acquisition was part of BigBasket's vision to revolutionize offline retail in India. BigBasket will utilize Agrima Infotech’s unique customer vision technology platform, Psyight, at the self-checkout counters of the its offline retail stores.
Financial[edit]
| Year | Revenue (In crores) | Profits/Loss (In crores) | Source |
|---|---|---|---|
| FY 2012 |  0
|
 -2
|
[20] |
| FY 2013 | 21
|
-12
| |
| FY 2014 | 71
|
-22
| |
| FY 2015 | 178
|
-60
| |
| FY 2016 | 527
|
-103.4
|
[21] |
| FY 2017 | 1,090
|
-191.80
| |
| FY 2018 | 1,409.61
|
-179.23
|
[22] |
| FY 2019 | 2,380.95
|
-348.27
| |
| FY 2020 | 3,794.17
|
-611
|
[23] |
| FY 2021 | 6,558.23
|
-413.16
|
[24] |
Controversy[edit]
On 14 October 2020, BigBasket faced a massive security breach after the data of almost 20 million users was leaked onto the dark web. The database of BigBasket users placed was up for sale for over US$40,000 and the file included the customers' full names, email ID, hashed password, pin, contact numbers, full addresses, date of birth, location, and IP addresses of login, among other details.[12][25][26]
References[edit]
- ↑ "contact". www.bigbasket.com. Retrieved 8 April 2021.
- ↑ "Terms and Conditions". bigbasket.com. Retrieved 8 July 2020.
- ↑ Saritha Rai. "How Bigbasketfounders, a squad of dotcom survivors, are battling Jeff Bezos in India". Livemint. Retrieved 8 July 2020.
- ↑ "Tata to buy BigBasket in over $1 billion deal". Hindustan Times. 13 March 2021. Retrieved 8 April 2021.
- ↑ Kar, Sanghamitra; Shrivastava, Aditi (2020-06-02). "BigBasket, Grofers, other e-grocery firms see rise in non-metro users". The Economic Times. Retrieved 2020-06-02.
- ↑ Bureau, Our (21 April 2020). "Covid-19 lockdown: Bigbasket starts to raise funds TATA GROUP ACQUIREDBIG BASKET FOR USD 1 BILLION". @businessline. Hindubusiness.
- ↑ Chakravarti, Ankita. "Coronavirus: Flipkart to resume grocery delivery, BigBasket too coming online, 10 key updates about food and online delivery". India Today (march 26 2020). India today.
- ↑ "Startup story: How a bunch of dotcom bust survivors built BigBasket". Hindustan Times. 2018-03-20. Retrieved 2020-06-02.
- ↑ Andreasen, Alan R (1995). Strategic Marketing For Nonprofit Organizations, 7e. Pearson. pp. 274, 275. ISBN 978-93-534-3503-5. Retrieved 26 May 2020. Search this book on
- ↑ Alawadhi, Neha (2 April 2020). "Covid-19 lockdown: Uber, BigBasket partner for essential service delivery". Business Standard India. Businessstandard.
- ↑ Peermohamed, Alnoor (2020-05-22). "BigBasket, Grofers, others may clock $3 billion sales". The Economic Times. Retrieved 2020-06-02.
- ↑ 12.0 12.1 "BigBasket's ingenious journey to crack India's complex e-grocery market". KrASIA. 2021-03-11. Retrieved 2022-01-11.
- ↑ "Tatas set to acquire 68% stake in BigBasket for ₹9,500 crore". The Hindu. Retrieved 3 March 2021.
- ↑ Shrivastava, Aditi. "BigBasket buys micro delivery startup DailyNinja - ETtech" (24 March 2020). Economic times. Retrieved 5 May 2020.
- ↑ Bansal, Varsha (19 October 2018). "BigBasket completes three acquisitions". The Economic Times. Retrieved 5 May 2020.
- ↑ "Tata group to take $1.3 billion stake in BigBasket: Report". mint. 16 February 2021. Retrieved 3 March 2021.
- ↑ "Tata-owned BigBasket explores group-buying model to woo users from smaller cities". KrASIA. 2022-01-10. Retrieved 2022-01-11.
- ↑ Mishra, Digbijay. "How BigBasket plans to enter the crowded group buying segment". The Economic Times. Retrieved 2022-01-11.
- ↑ "BigBasket Acquires Kerala Startup Agrima Infotech". IndianWeb2.com. Retrieved 2022-02-20.
- ↑ "BigBasket Revenue at INR 178 crores in FY 14-15; Losses at INR 61 crores". Tofler. Retrieved 2022-05-16.
- ↑ Upadhyay, Harsh (2017-12-27). "BigBasket posts 107% jump in revenue, breaks even two cities". Entrackr. Retrieved 2022-05-16.
- ↑ "BigBasket FY-2019 loss rises to Rs 348 crore". The News Minute. 2019-12-02. Retrieved 2022-05-16.
- ↑ Tyagi, Gaurav; Vardhan, Jai (2021-02-22). "BigBasket's B2B arm crosses Rs 3,800 Cr in revenue during FY20; posts Rs 611 Cr loss". Entrackr. Retrieved 2022-05-16.
- ↑ Manch, Kunal; a; Tyagi, Gaurav (2022-04-20). "BigBasket B2B arm's revenue past Rs 6,500 Cr in FY21, losses shrink 32%". Entrackr. Retrieved 2022-05-16.
- ↑ Quint, The (2020-11-09). "FAQ: As A BigBasket User What Should You Do After the Data Breach?". TheQuint. Retrieved 2021-01-11.
- ↑ "BigBasket's 20 Million Customers Data Leaked Controversy!". Gadgets Techly360. Retrieved 2021-04-27.
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