This year we have witnessed Hyperlocal delivery start-ups such as Grofers and Peppertap, reduce the number of cities they operate in to reduce bring down costs and focus on more profitable cities. This was a sign of things to come. While Amazon re-launched its grocery service ‘KiranaNow’, Flipkart pulled the plug on its ‘Nearby’ Grocery app, despite opening a dedicated gourmet and nutrition category on its site. Even Cab aggregator, Ola closed the door on its grocery delivery service.
As the online grocery industry seems to be going through a rough patch, e-grocer, BigBasket continues to attract fresh funding. This time it has reportedly raised $150 million from The Abraaj Group (Dubai), International Finance Corporation and Sands Capital.
Recent reports suggest that BigBasket’s sales revenue when compared to the previous year more than doubled, from Rs. 69.72 crore to Rs. 170.24 crore, although losses also tripled during the same period. BigBasket expects its revenue to cross $1 billion by 2018. If it continues to receive solid funding, there is no reason why it should’nt.
Editor team is specialized in introducing the marketplace content targeting the Indian online sellers. They plan and coordinate to bring the appealing content for the small businesses on how to partner with the e-commerce sites like Amazon and Flipkart and strategies for improving their online business.
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