“As we speak, Bigbasket’s inventory-based model has become illegal as per the latest government notifications. They do not have any sellers and directly sell to customers,” said Biyani. BigBasket recently raised $150mn and competes directly with Future group’s core business.
BigBasket has raised $150 million led by UAE’s Abraaj Group. Existing investors including Bessemer Venture Partners, Helion Advisors, International Finance Corp and Sands Capital also participated in the round. The raised funds will be used for expansion.
BigBasket spent INR 22 crores on advertising and promotional expenses in FY 14-15 which was a 420% increase over the previous fiscal.
Big Basket has launched Happy Chef. Big Basket will now deliver you gourmet recipes and ingredients with cooking instructions. This competes directly with InnerChef, a startup GSF’s Rajesh Sawhney.
The company will setup 10 small warehouses in each of the large cities it is present in, and one each in the 50 Tier II cities it plans to enter. These dark houses will help the company also serve hyperlocal demand and fend of rivals such as Grofers and PepperTap. BigBasket will enter Mysore, Coimbatore, Madurai, Trichy, Vijayawada and Visakhapatnam as soon as next week.
Competition BigBasket recently raised $32mn.
Here is a quick recap of high impact changes in digital marketing for the year 2014 specific to India and its influence on businesses.
India is the sixth largest grocery market worldwide and a lot of new firms have launched online portal to tap into this segment.
Rs 50,000 crs to move from cash transactions to digital payments led by Indian tech startups
Looking for an idea in consumer Internet business in India?