The Ledger
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Menon claims BigBasket will be the only profitable quick-commerce grocery player
“The only one that's going to build a profitable model today is of us because it's not for us. It's an extension of our business, right? I've got the same DC, same supplier, same everything. My supply chain is just getting more and more loaded, which helps me g…”
Viable quick commerce delivery windows will settle between 30 and 90 minutes
“So you will build a model which is within 30 minutes, right? Less than 30 minutes. There'll be some which will go up to 90 minutes. So 30 to 90 is the range you'll find. Less than 30, less than 90.”
Ascent Capital's BigBasket Investment Returned More Than Its Entire Fund
“Rather, I mean, they returned more than the fund, and as it so happened, the infrastructure and other sectors went down. This is a, one of the best dream returns for a fund.”
Geopolitical tensions between India and China blocked Alibaba from funding BigBasket further
“So we had the first strategic that came in two years before in the form of Alibaba. Unfortunately, because of the, all the issues that were there with China and stuff like that, they couldn't make further investments.”
Parekh: BigBasket holds 10% to 12% quick commerce market share
“We would have about 10 to 12% market share.”
Ahluwalia: Tata acquired 60%+ of BigBasket for $1B+ and revalued at $3B
“For example, with big basket, right? They bought 60% plus stake for one billion plus, and now they valued the company again in a refinancing at three billion.”
Menon: BigBasket raised the largest Series A round in India at the time
“Because I think we raised our, it was the largest series A at that point in time.”
Aggarwal: BigBasket holds half of India's grocery market
“Big basket has half of the grocery market in the country, in spite of many other people being in the same business.”
Krishnan: E-Grocery Adoption in India Is Single-Digit Percentage
“Even today, e-commerce or big basket, whatever you call it, it's a single digit percentage adoption of e-grocery in India.”
Ganesh: Ascent Capital broke its mandate to invest in BigBasket
“Ascent Capital is a private equity fund. They have never done a, written the first check. They have never written in a startup check. They have not done an e-commerce company, focused primarily on real estate and infrastructure, large later stage ticket sizes,…”
Ganesh: Tata owns 66% of BigBasket with 33% held by founders and investors
“Tata's now own 66% balance. 33% is held by us, by founders and by as I send capital a bit and much later stage investors.”
Ganesh: BigBasket co-founders previously operated 300 physical Trinetra grocery stores
“Hari Menon can take a bunch of rice in his hand and tell you what the quality is, because they ran actually 300 Trenetra stores, physical brick and mortar grocery stores.”
Siddhartha: India has over two million gig delivery workers across major platforms
“There are currently more than two million delivery boys in India across platforms like Swiggy, Zomato, Blinkit. Zepto. Big basket. 20 lakh delivery boys or girls.”
Sudhakar: Farmers selling to BigBasket earn 6–7% more within two days
“So one we get almost six to seven percent more than what we would have got otherwise. And we get our money in two days and without follow up.”
Sudhakar: BigBasket's team size is around 30,000 to 35,000 employees
“More now, now it's closer to about 30, 35,000.”
Sudhakar: BigBasket's Corporate Office Was Just 2,000 Sq Ft Until 2017
“And I remember in, in our old office, we used to, for a long time, our corporate office was one on which is one floor of 2000 square feet. Okay. Till about, what, 2017 in, by which time we had become reasonably big.”
Menon: Ascent Capital was BigBasket's first investor with a $10M check
“Ascent Capital was the first investor who came in with a serious ten million cheque.”
Aggarwal: BigBasket serves kiranas and restaurants using the same supply chain
“For example, Big Basket, ah, works a lot in serving Kiranas, ah, and restaurants, and it gives them economies of, ah, scale. So same supply chain, but delivering to multiple customer segments.”
Ahluwalia: Tata Group typically buys 60-70% of acquisition targets, retaining founders
“For example, the Tata Group acquired, the Tata consumer acquired One MG, which is a digital pharmacy business, and they never do a hundred percent acquisition. They do 60, 70% acquisition. And let the 30% remain with the founders so that the founders can see t…”