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Indian online grocery delivery company From Wikipedia, the free encyclopedia
BigBasket is an Indian online grocer headquartered in Bangalore, India, and currently owned by Tata Digital.[1] It was the first online grocer in India, set up in 2011. It is a registered company with the name Supermarket Grocery Supplies Pvt. Ltd.[10]
| |
| Company type | Subsidiary |
|---|---|
| Industry | E-commerce Online shopping Q-commerce |
| Founded | October 2011 |
| Founders |
|
| Headquarters | , India |
Area served | India |
Key people | |
| Brands | |
| Services | Online grocer |
| Revenue |  ₹10,100 crore (US$1.2 billion) (FY24)[6] |
 ₹−1,415 crore (US$−170 million) (FY24)[6] | |
| Parent | Tata Digital |
| Divisions | |
| Website | bigbasket |
As of January 2023[update], the company operates in more than 30 cities in India and processes around 15 million orders per month.[1]
According to Bloomberg News, BigBasket is considering an initial public offering by 2025 as part of its growth plans.[3][11]
BigBasket began as a tech startup company, founded in December 2011 by five entrepreneurs who had survived the dot-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 the hyperlocal delivery company Delyver to build its last-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's unique selling point was delivery of fresh produce, based on the purchase of fruit and vegetables from local marketplaces each morning, storage in refrigerated warehouses and a fleet of temperature-controlled trucks to deliver fresh to the door.[10][13]
China's Alibaba 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 by Mirae Asset-Naver Asia Growth Fund, the CDC Group and Alibaba.[14]
In October 2020, BigBasket suffered a data 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]
The company was valued at around $1.85 billion in May 2021. Demand for online grocery shopping increased considerably in the wake of the COVID-19 pandemic and by the start of 2022, BigBasket was processing over 7 million orders per month.[16]
Tata Group became the owner of BigBasket in May 2021, when its Tata Digital subsidiary acquired a 64% majority stake in the company.[17] 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 to CEO Vipul Parekh, over one-third of the company's revenue comes from its private 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][19]
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