This story is from May 16, 2019
BigBasket launches services in Kochi
Kochi:
“Kochi is a high-growth market for BigBasket and we are excited to launch our services in the city,” said Menon.
With the recent fund raising, BigBasket has become the latest entrant to India’s unicorn club. In April, the Mirae Asset-Naver Asia Growth Fund, CDC Group, and Alibaba Group led a $150-million round of fund-raising for Supermarket Grocery Supplies Pvt Ltd, the owner of the bigbasket brand. BigBasket had closed a $200-million round led by the Alibaba Group last year in February.
BigBasket aims to double its revenue by Rs 7,000 crore in fiscal 2020. It expects 40% of its projected revenue to come from private labels, which currently stands at 34%.
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Online grocery
marketBigBasket
has launched its services in Kerala. Hari Menon, co-founder and CEO of BigBasket, said that he will be setting up a collection centre near Kochi to collect fresh vegetables and fruits to cater to the local market.“Kochi is a high-growth market for BigBasket and we are excited to launch our services in the city,” said Menon.
With the recent fund raising, BigBasket has become the latest entrant to India’s unicorn club. In April, the Mirae Asset-Naver Asia Growth Fund, CDC Group, and Alibaba Group led a $150-million round of fund-raising for Supermarket Grocery Supplies Pvt Ltd, the owner of the bigbasket brand. BigBasket had closed a $200-million round led by the Alibaba Group last year in February.
BigBasket aims to double its revenue by Rs 7,000 crore in fiscal 2020. It expects 40% of its projected revenue to come from private labels, which currently stands at 34%.
Ready to Master Stock Valuation? ET’s Workshop is just around the corner!
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