co-presented by
ASSOCIATE SPONSORS
co-presented by
ASSOCIATE SPONSORS
The Metro Man of India, Elattuvalapil Sreedharan, now 92, is credited with changing the face of public transport in India with his leadership in building the Konkan Railway and the Delhi Metro. He is also a Padma Shri and a Padma Vibhushan awardee.
BigBasket is evolving into Tata Digital’s last-mile engine, enabling everything from pharmacy and fashion to electronics and food delivery via quick commerce.
The forays come at a time when quick commerce companies are entering new sectors to push up average order values and improve their profitability
Apart from Flipkart, Amazon, Tata Neu is new and young so it will hopefully scale, Menon said.
Zepto co-founder Aadit Palicha made the remarks after BigBasket CEO Hari Menon said that the unit economics of quick commerce businesses that promise to deliver products in 10 to 15 minutes do not work.
The BigBasket chief believes businesses within the space should chase delivery within 15 to 30 minutes, which is more sustainable.
The company's widening losses came at a time when BigBasket has made forays into the offline space with stores branded as 'Fresho' and has also invested in quick commerce and 10-minute grocery delivery offerings with BBNow.
Co-founder and CEO Hari Menon says BB will shorten delivery timelines, but in a way that unit economics work. He says BBNow has taken off well and it will be expanding to more cities.
Ankur Verma, a senior vice-president in Tata Sons' chairman's office will also join the board of the digital health platform.
BigBasket co-founder and CEO Hari Menon said the company hired over 12,000 persons in 16 days to meet the surge in demand as a large number of people started turning to digital platforms to shop for grocery items amid the lockdown.
Co-founder and Chief Executive Officer Hari Menon said Bigbasket is well on track to achieve its target of closing FY19 with a revenue of Rs 3,500 crore.
In a chat with Moneycontrol, Bigbasket's Co-Founder and CEO Hari Menon said he aims to raise funds from both existing as well as new investors
Endorsed by actor Shah Rukh Khan, the company has raised USD 246.75 million in funding so far
The Co-Founder and Chief Executive Officer of BigBasket Hari Menon, said the capital raised will be used to increase the shelf life of fruits and vegetables, which is a huge part of the company's business, and is directly sourced from farmers.
The only challenge we face is in recruiting and retaining of our ‘blue collar’ workforce, says Menon
While the demonetisation scheme is acting as a hurdle for many sectors, for BigBasket it is a blessing in disguise. The company has upped its revenue projection by 20 percent in the financial year 2017.
CNBC-TV18 spoke with Hari Menon, CEO of BigBasket, Bipin Preet Singh, Founder & CEO of MobiKwik and Amrish Rau, MD of Citrus Pay to find out how the demonetisation drive is impacting their business.
The founders of FabMart are entering the e-grocery segment with BigBasket.com
