Bigbasket
BigBasket (registered as, Supermarket Grocery Supplies Pvt. Ltd.) is an Indian online grocery delivery service. The company primarily delivers grocery goods found in convenience stores, home essentials and food supplies to its customers. BigBasket was founded in December 2011 and has its headquarters in Bengaluru, India. History. BigBasket was founded by V. S. Sudhakar, Hari Menon, Vipul Parekh, Abhinay Choudhari and V. S. Ramesh in 2011. Before the establishment of BigBasket, four of its five founders, excluding Abhinay, were part of a group of six behind India's first online retail store called Fabmart.com, which launched in 1999. Fabmart.com  sold music CDs and ventured into the sale of books, toys, computers, jewelry, watches, and groceries. Poor internet penetration rates, rare use of online payment methods and the dot-com bubble burst in 2002 later led to the establishment of Fabmall, which was a chain of physical retail stores. Two years later, Fabmall merged with Trinethra Super Retail and the new entity had about 150 stores when it got acquired in 2006 by Aditya Birla Group, which rebranded it as the supermarket store chain More. In March 2019, BigBasket raised million in investment from Mirae Asset, Alibaba Group and CDC  Group giving the company a valuation of over billion. In March 2020, they acquired micro-delivery firm, DailyNinja. As of June 2020, it was reported that BigBasket had hit the annualized gross sale run rate of US$1 billion and began selling about 18,000 products from over 300,000 orders received daily. In February 2021, the Tata Group acquired a 64.3% stake in BigBasket for around . As of 2022, BigBasket caters mainly to tier 3 and tier 4 towns with its community group buying approach, wherein users can create groups through messaging and social media platforms to buy products at reduced  prices. Reports also emerged in the same year that BigBasket plans to roll out an express delivery service called BB Now to focus more on quick commerce, wherein goods are delivered within 15 to 30 minutes upon the placement of orders. In February 2022, BigBasket acquired Kerala based deep-tech startup Agrima Infotech for undisclosed amount. The acquisition was part of BigBasket's vision to revolutionize offline retail in India. BigBasket will utilize Agrima Infotech’s unique customer vision technology platform, "Psyight", at the self-checkout counters of the its offline retail stores. Controversy. On 14 October 2020, BigBasket faced  a massive security breach after the data of almost 20 million users was leaked onto the dark web. The database of BigBasket users placed was up for sale for over US$40,000 and the file included the customers' full names, email ID, hashed password, pin, contact numbers, full addresses, date of birth, location, and IP addresses of login, among other details.