BigBasket: An Example of Grocery e-commerce in India
BigBasket is an Indian online grocery store started two years ago in 2011. It is a venture started by VS Sudhakar, Vipul Parekh, VS Ramesh and Hari Menon. It was seed funded by an entrepreneur and angel investor, Krishnan Ganesh along with Meena Ganesh. Since it went live in December 2011 it has established in Bangalore, Hyderabad and Mumbai. It expects revenues of Rs. 100 crores by early next year.
Grocery etailing is one of the toughest and most challenging areas to succeed in within the overall ecommerce framework. The perishable nature of the products compounded with changing consumer behavior makes it complicated. The Bigbasket team is the same team that started FabMart in the 1999-2000 Internet era. The ecommerce portal sold music, books and groceries online. Given the insignificant internet penetration and even more meager acceptance for ecommerce at that time, the venture failed. In 2003, with a new avatar FabMart was relaunched as FabMall, an offline grocery store.
The following video is an interview with BigBasket CEO, Hari Menon about the challenges of grocery ecommerce in India and raising funds.
No comments:
Post a Comment
Note: only a member of this blog may post a comment.