e-grocery | Pixr8 News

BigBasket Goes Offline, Will Open its Retail Stores

5Mar By Sheldan RungasamyNo Comments

News

BigBasket Goes Offline, Will Open its Retail Stores

While almost every companies try to move their offline business online, BigBasket is trying the opposite approach. One month after $300 million funding round by Chinese multinational Alibaba, BigBasket is looking to cash in on the offline market by implementing kiosks that will stock fruits, vegetables and other daily grocery items. The offline kiosks will be mostly set up around residential areas and office centers. BigBasket is looking to further implement themselves in the lives of their customers by putting forward a subscription programme for daily requirements such as milk and bread. This system will also increase the purchasing frequency of the users. They have already started a trial for this new service on a separate app called BB instant. Hari Menon, founder and CEO of BigB...

Flipkart to Re-Enter Grocery Segment: Flipkart CEO Kalyan Krishnamurthy

9Apr By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Flipkart to Re-Enter Grocery Segment: Flipkart CEO Kalyan Krishnamurthy

Locked in an intense battle with Amazon, homegrown e-commerce major Flipkart is looking at re-entering the grocery segment that accounts for a significant portion of Indias retail industry. "Yes we will get into grocery... 80 per cent of units bought in India is grocery... USD 400-600 million is grocery market, so we have to get into it," Flipkart CEO Kalyan Krishnamurthy said at a TiE event here. This will be the second attempt into the grocery segment for the Bengaluru-based firm. In October 2015, Flipkart had launched a separate groceries ordering app called Nearby for delivering fruits, vegetables, soaps and other staples from supermarkets to customers. However, following a weak response, Flipkart closed the business a few months later. Flipkarts rival Amazon India has launched it...

Trifecta Capital Provides 45 Crores of Venture Debt to Bigbasket

1Apr By AdityaNo Comments

FUNDING

Trifecta Capital Provides 45 Crores of Venture Debt to Bigbasket

Trifecta Capital today announced that it has provided Rs. 45 crores of venture debt to SuperMarket Grocery Supplies Pvt. Ltd. that owns and operates the online food and grocery portal bigbasket.com. The funds will be used to meet the capex requirements of the company, including setting up new warehouses, strengthening the cold chain and setting up facilities for reprocessing of fruits and vegetables. "We have a clearly identified use case for debt. We are present in 25 cities and continue to optimise our supply chain. A significant part of our business is fresh fruits and vegetables, the bulk of which is sourced directly from farms. It is crucial that we maintain the quality right upto the last mile. We are in the last leg of a pilot which will ensure that all fruits and vegetables are ...

E-grocery Platform BigBasket Target 300% Growth, Rs 2,000 crore Revenue at Fiscal End

5Dec By AnkitaNo Comments

BUSINESS

E-grocery Platform BigBasket Target 300% Growth, Rs 2,000 crore Revenue at Fiscal End

With people becoming comfortable buying even milk and bread online, e-grocery platform BigBasket today said it has seen 300 per cent growth in revenue in the past one year and expects to cross the Rs 2,000 crore-milestone by the fiscal-end. With four million registered customers, the Bengaluru based firm expects to become profitable by March 2018. "In the past year alone, we have seen over a 300 per cent growth and continue to grow by 10 per cent on a month-on-month basis. We hope to triple revenues to Rs 2,000 crore by March 2017," BigBasket co-founder Vipul Parekh told Pixr8. Parekh added that the company's revenue has grown from Rs 178 crore in FY2015 to Rs 700 crore in FY2016. "However, these numbers do not include the impact of demonetisation that has in fact, pushed our sales up ...