Entrackr-Startup Funding News (6)

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The latest startup funding news Big basket -
yay, or nay?

• Startup Funding News

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Startup Funding News

• Big Basket is an online shopping platform where
  you can purchase groceries, food grains, and
  other packaged products that are used in various
  households. Big Basket has over 18000 products
  from  10000 brands and is now operating in 26
  cities throughout India. 
• Entrackr is your one-stop destination to find the
  latest funding news about all different kinds of
  technological and global advancements. Find the
  most updated Big Basket news about its progress
  since its establishment. Big Basket is built on
  the foundation laid by Fabmart and Fabmall, two
  prior startups from the same group of founders. 
  Established in 2011 by five middle-aged men Hari
  Menon (Current CEO of Big Basket), Abhinay 
  Choudhari, Vipul Parekh, V S Sudhakar, and V S
  Ramesh. 

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Bigbasket News
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Funding for Big Basket 

• Big Basket has gained quite some popularity since
  its launch in October 2011. The company raised
  over 1 billion in multiple series of funding
  from various investors like Bessemer  Ventures,
  Zodius, Lion Rock Capital, Paytm, and Alibaba
  prominently. From a mere 5000 orders every day
  from three major cities to 20000 orders every
  day, The growth of the company is nothing but
  obvious. This funding has helped Big Basket
  achieve Unicorn status in India (Unicorn
  Valued  over 1 billion) 
• Business Model With the growth of the company, a
  complete transition in the companys strategy to
  cater to the needs of its customers can be seen. 

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Business Model 

• With the growth of the company, a complete
  transition in the companys strategy to cater to
  the needs of its customers can be seen. 
• 1. Just-in-Time Model This business model was
  used in the few initial years after the
  establishment of the company. In such a model no
  stock is maintained by the company.  Goods are
  sourced from local sellers and suppliers on the
  basis of orders from customers.  Each order from
  a customer will lead to a purchase order from
  local sources which would then be delivered to
  the customer. 
• Inventory Model With its expansion to more
  cities and Inventory model became a  necessity.
  In this model warehouses and cold storage
  facilities are used to stock goods sourced from
  wholesalers and suppliers. Items are purchased
  directly from farmers and producers. Specific
  items are also sourced directly from the biggest
  producer in India 
• The Road Ahead  - With the Covid-19 pandemic at
  hand, amidst lockdown and home isolation, Big
  Basket has seen rapid growth in its customers.
  With other competitors like Grofers and Dunzo
  providing tough competition, a unique business
  strategy and distinguished services are required
  by Big Basket to set itself on a greater path.

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