- Grocery shopping platform Bigbasket revenue increases by 36% to Rs 3,818 crore in FY-20.
- Bigbasket is one of India’s leading grocery shopping platform serving more than 6+ million customers in the country.
- The company is in the development stage to sell 51% stakes to Tata Group.
India’s leading unicorn grocery shopping platform Bigbasket has reported an increase in revenue by 36% to Rs 3,822 crore in 2019-20 fiscal (FY-20), while the net loss also went up from Rs 572 crore in FY-19 to Rs 611 crore in FY-20.
At the same time company’s operating income increased by 27% from Rs 2,754 crore in FY-19 to Rs 3,794 crore in FY-20. However, overall expenses also went up by 25% from Rs 3,376 crore in FY-19 to Rs 4,433 crore in FY-20.
In 2018-19 fiscal (FY-19) Bigbasket saw its revenue jump by 74% to Rs 2,754 crore in FY-19 from Rs 1,583 crore in FY-18.
Founded in 2011 by Hari Menon, Vipul Parekh, VS Ramesh, VS Sudhakar, and Abhinay Choudhari, Supermarket Grocery Supplies, which operates Bigbasket, one of India’s leading online grocery shopping platforms serving more than 6+ million customers across 26 cities in the country.
It is currently the market leader in the online grocery shopping segment having more than 40,000 listed products from 1,000+ brands.
Bigbasket had last raised $51.8 million in debit financing in April 2020 co-led by CDC Group and Alibaba Group. To date, it has raised over $1.1 billion in a total of 17 funding rounds, according to CrunchBase report.
The company claims that it has witnessed around 84% growth in customer reach compared to the Pre-COVID period while the retention rate grew by 50% against the earlier 30%-45%.