BigBasket is an Indian online grocer headquartered inBengaluru, Karnataka, and currently owned byTata Digital.[1] It was the first online grocer in India, set up in 2011. It is a registered company with the nameSupermarket Grocery Supplies Pvt. Ltd.[10]
As of January 2023,[update] the company operates in more than 30 cities in India and processes around 15 million orders per month.[1][11]
BigBasket began as a techstartup company, founded in December 2011 by five entrepreneurs who had survived thedot-com crash of the early 2000s. The startup was initially funded by private equity investor Ascent Capital (Bangalore) with a capital injection of $10 million.[10]
In 2015, Bigbasket acquired thehyperlocal delivery company Delyver to build itslast-mile delivery network.[12]
By mid-2016, BigBasket was operating in eight large Indian cities and had grown to become India's biggest e-grocer.[10] The company'sunique selling point was delivery of fresh produce, based on the purchase of fruit and vegetables from local marketplaces each morning, storage inrefrigerated warehouses and a fleet of temperature-controlled trucks to deliver fresh to the door.[10][13]
China'sAlibaba Group led a $300 million funding round in early 2018 to become the main shareholder in the company,[2] taking the online grocer's valuation up to $950 million.[10] By May 2019, BigBasket was operating across 25 Indian cities,[2] and became India's newest 'unicorn' (a startup valued at more than $1 billion) by raising $150 million in a new funding round led byMirae Asset-Naver Asia Growth Fund, theCDC Group and Alibaba.[14]
In October 2020, BigBasket suffered adata breach exposing the data of more than 20 million users, which included email, IP and physical addresses, names, phones numbers, dates of birth and passwords.[15]
Demand for online grocery shopping increased considerably in the wake of theCOVID-19 pandemic and by the start of 2022, BigBasket was processing over 7 million orders per month.[16]
In May 2021,Tata Group subsidiary Tata Digital acquired a 64% majority stake in BigBasket.[17] The company was valued at around $1.85 billion in May 2021. In January 2023, BigBasket received a $200 million injection from investors, including majority shareholder Tata Digital, taking the company valuation up to $3.2 billion.[1][3]
According toCEO Vipul Parekh, over one-third of the company's revenue comes from itsprivate label products.[18]
On 24 November 2021, BigBasket opened its first physical store, branded 'Fresho', primarily for the sale of fresh fruit and vegetables, in Bangalore.[16][21]
₹10,100 crore (US$1.2 billion) (FY24)[6]
₹−1,415 crore (US$−170 million) (FY24)[6]
