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BigBasket and Grofers are in Talks For Possible Merger

19Apr By AnkitaNo Comments

ACQUISITION

BigBasket and Grofers are in Talks For Possible Merger

India's online grocery delivery service BigBasket and smaller rival Grofers India Pvt. Ltd. have begun talks on a possible merger, Indian newspaper Mint reported on Wednesday, citing sources. If the merger goes through, SoftBank Group (9984.T), which is an existing investor in Grofers', will participate in a $60 million to $100 million funding round in the merged company, the report added. The talks, which are in early stages, may value BigBasket at about $700 million to $800 million, while Grofers could be valued at $150 million to $200 million, Mint added. Online grocery sales are a fast growing segment in India's e-commerce industry as more consumers log in to internet for their purchases.

Flipkart eyes groceries; renewed push in furniture

20Nov By reutersNo Comments

News

Flipkart eyes groceries; renewed push in furniture

Led by Bansal's, India's top e-commerce player Flipkart plans to move into the groceries space and make a renewed push in the online furniture business, as it expands its product portfolio and looks to outmaneuver global giant Amazon.com in a burgeoning Indian market. Flipkart Chief Executive Binny Bansal said the home-grown e-commerce player plans to begin experimenting with grocery sales next year and scale up operations over a three year period. "There's definitely room to build a profitable grocery business, but it's hard. That doesn't mean it's not possible, but it's hard," Bansal told Reuters in an interview on Sunday. Amazon has already began to pilot grocery sales in select Indian cities. More and more people in India, a country of over 1.2 billion people, are logging on to t...

Wal-Mart to Invest $50 Million in China’s Online Grocery Platform New Dada

22Oct By NitishNo Comments

FUNDING

Wal-Mart to Invest $50 Million in China’s Online Grocery Platform New Dada

Walmart today announced a $50 million strategic investment in New Dada, China’s largest local on-demand logistics and grocery O2O ecommerce platform. The investment is an extension of Walmart’s broader agreement with JD.com and cooperation with New Dada, which includes using New Dada’s network to offer customers two-hour delivery on groceries ordered from Walmart stores through the JD Daojia Dada app.Wal-Mart shifted its China strategy earlier this year when it sold its own online platform Yihaodian in exchange for a stake in local e-commerce giant JD.com Inc. New Dada is a joint venture part-owned by JD.com. The two-hour delivery service is available to customers within a 3km radius of more than 20 Walmart stores that are currently part of the program. The number of Walmart stores offe...

Indonesia Based GO-JEK Acquires Bangalore Based Startup Pianta

27Sep By AnkitaNo Comments

ACQUISITION

Indonesia Based GO-JEK Acquires Bangalore Based Startup Pianta

Indonesia's based food and grocery delivery startup GO-JEK has acquired Bangalore based Pianta, a marketplace for home healthcare services, for an undisclosed sum. Post the acquisition, Pianta's eight member team will merge with GO-JEK's engineering centre in Bangalore. Founded in 2010, GO-JEK has over two lakh motorbike taxis, known as "ojeks" in its fleet. Since then, the company has diversified into food, grocery and even courier delivery services. GO-JEK raised $550 million in 2016 from the likes of KKR, Warburg Pincus, Farallon Capital and Capital Group Private Markets. In India, GO-JEK doesn't have any services but has an engineering centre in Bangalore where it employs 60 people."Pianta's core team comes from Ola and Flipkart and their expertise in the logistics and payments s...

Mumbai Based OrderZapp Goes Eco-Friendly; Starts Electric Bikes Delivery

5Jun By PriyankaNo Comments

News

Mumbai Based OrderZapp Goes Eco-Friendly; Starts Electric Bikes Delivery

OrderZapp, a recently launched app which offers traditional snacks across Mumbai is taking multiple initiatives to support environmental causes and concerns. The company will initiate its delivering via electric bikes across Mumbai. The idea behind using electric bikes is not limited to support only the environment, but it also helps the start-up manage its operational costs. By taking this step, the company will provide vehicles to the delivery boys, who will now not have to use their own bikes. Along with this, OrderZapp also kick starts tree plantations drive in the drought struck areas of Maharashtra. The drive which begins from Sunday will go on across the months of monsoons. "We are very glad to implement these environment friendly initiatives in our organization. These ...

22Mar By reutersNo Comments

FUNDING

BigBasket Raises $150 Million in Funding Led By Abraaj Group

Grocery delivery service BigBasket has raised $150 million in fresh funding in a round led by UAE's Abraaj Group as the company looks to expand its services into smaller cities, the investor said. Existing investors Bessemer Venture Partners and Helion Advisors along with International Finance Corp and Sands Capital participated in the round, Abraaj said in a statement. Online grocery sales is a fast-growing segment in India's e-commerce industry as more consumers log in to the Internet for their purchases. Rival Grofers, an app-based service that connects local stores to customers, raised $120 million from Japan's Softbank last year to expand operations. Amazon.com Inc, which is aggressively investing in India, also launched a grocery delivery pilot in Bengaluru late last y...

Flipkart Shuts It's Groceries Delivery App Nearby

26Feb By PriyankaNo Comments

News

Flipkart Shuts It's Groceries Delivery App Nearby

A month later, Mukesh Bansal and Ankit Nagori resignation India’s largest e-commerce firm Flipkart shuts it's groceries delivery app, Nearby. The company Nearby was five months old. Paytm, operated by One97 Communications Ltd, also closed its grocery service in June because of poor demand. The Nearby app was launched as an experiment by Flipkart in Bengaluru in October. The company promised to deliver fruits, vegetables, soaps and other staples from supermarkets to customers within an hour of receiving an order. On 11 January, Flipkart named co-founder Binny as CEO, replacing Sachin Bansal, in a move that it claimed would strengthen its management bandwidth as it seeks to combat archrival Amazon India and kick off preparations for an expected initial public offering (IPO) over the...

7Jan By NitishNo Comments

News

Exclusive: Grocery Delivery Service Localbanya Shuts down website

Seems 2015 crisis in startup world will continue in 2016. The latest victim of this crisis is Localbanya.com a grocery delivery services, taken down their website. Localbanya has raised 20 million in funding and setup offices in Mumbai, Delhi, Noida and Gurgaon. Recently most companies operating in Grocery sectors started laying off employees including prominent names like Grofers, Peppertap.

Sanjiv Goenka (owner of Pune IPL Team) led Spencer has acquired Gurgaon-based Online Grocery Platform MeraGrocer.com

16Dec By AdityaNo Comments

ACQUISITION

Sanjiv Goenka (owner of Pune IPL Team) led Spencer has acquired Gurgaon-based Online Grocery Platform MeraGrocer.com

Spencer’s Retail has forayed into online space with the acquisition of 100 per cent stake in meragrocer.com at an undisclosed sum to grab 10 per cent of revenue in 4-5 years.The deal is a mixture of debt and equity. This acquisition makes meragrocer.com a subsidiary of Spencer’s, and will form the starting point of Spencer’s online retail business, Spencer’s said in a statement. “With the acquisition we will be able to enter the online channel for Spencer’s soon. However, this does not stop us from tying with other hyper local delivery startups”, sector head Shashwat Goenka said. “Currently we will be in Gurgaon and Delhi as the acquired company is present in these markets. By April-June quarter of 2016, we will launch the service in Kolkata”, he said. Spencer’s, he said, is workin...