Two Core Arms of Big Basket Merge
Bengaluru: As the hyperlocal delivery battle intensifies, BigBasket has juiced up its operational model to make all deliveries under four hours, according to a media report. In the earlier model, it used to offer two delivery options including 90-minute delivery and next day scheduled delivery.
With the four-hour delivery plan, BigBasket will reportedly help the company ensure that users get ample product choices, which was not possible in the earlier 90 minute delivery option.
“We have moved from smaller, ‘dark’ stores to opening warehouses that are three times larger and also re-hauled its supply chain across cities to fulfill the majority of customer orders faster,” BigBasket CEO, Hari Menon.
BigBasket was launched in 2011 by VS Sudhakar, Menon, Vipul Parekh, V S Ramesh and Abhinay Choudhari. As of May 2019, it claimed to have over 10 Mn registered customers and was processing 1 Lakh orders per day across 25 Indian cities.
BigBasket recorded close to USD 33 Mn (INR 230 Cr) in gross monthly sales, with an annual exit rate of around USD 435.8 Mn (INR 3K Cr) in March 2018. It is now aiming to touch USD 1 Bn gross sales run rate by the end of FY19.
The Bengaluru-based company recently closed a $150 Mn Series F funding round from Chinese ecommerce major Alibaba, South Korea’s Mirae Asset Global Investments and the UK government-backed CDC Group.
With this round, the total funding raised by BigBasket had reached USD 1.02 Bn across 14 funding rounds from investors such as Alibaba, Helion Venture Partners, Bessemer Venture Partners, Abraaj Group, LionRock Capital and others.