In a dramatic attempt to protect adolescents from potentially hazardous information, YouTube has stated it will no longer recommend videos to users aged 13 to 17 that advocate certain physical ideals or fitness routines. The dangers of prolonged exposure to such material have been brought to the attention of experts, whose worries have led to this policy revision. Teens can still watch these videos, but YouTube won’t recommend them anything similar.
How Did YouTube Arrive at This Decision?
YouTube’s worldwide head of health, Dr. Garth Graham, provided an explanation of the reasoning behind this policy change, which is as follows: As adolescents navigate their self-identity and personal standards, persistent exposure to idealised physical norms can create unrealistic self-expectations, which may lead to poor self-perceptions. This can be a challenging development for adolescents.
The Amended Guidelines Target Content That Celebrates Certain Physical Traits
Specific content that encourages social hostility, promotes particular training routines, or glorifies certain physical traits is explicitly targeted by the updated standards. It is possible that a single video does not pose a major risk; nevertheless, frequent exposure to information of this nature has been identified as having the potential to cause harm. This policy is now in place all over the world, including in the United States and the United Kingdom. It is a reflection of the recently passed Online Safety Act in the United Kingdom, which mandates that technology companies protect young users from any potentially dangerous information and investigate the potential effects of their algorithms.
In addition, the necessity of taking prompt action is further supported by the fact that adolescents are frequently exposed to information that idealises harmful norms or behaviours. This content can reinforce negative messages, which in turn can influence how adolescents perceive themselves.
Examples of beauty routines that fall under these parameters include those that are designed to make a person’s nose appear thinner, as well as those that encourage a particular appearance through physical activity.
YouTube Advisor Stresses Needed ‘Guardrails’ for Young Users
A YouTube adviser and therapist named Allison Briscoe-Smith stressed the significance of these “guardrails.”
According to her, some kids’ self-perception could be affected by the prevalence of information that promotes unhealthy ideals or behaviours.
All throughout the world, people are starting to follow the new rules. The UK’s recently passed Online Safety Act makes the measures all the more important, requiring tech companies to protect children from harmful content and think about how their algorithms can expose people under the age of 18 to inappropriate content.
On 10 September 2024, four private individuals embarked on a five-day mission called Polaris Dawn in a modified SpaceX Crew Dragon capsule. The mission’s goals include conducting the first private spacewalk and testing new types of spacesuits.
Takeoff occurred at approximately 5:23 a.m. EST (0923 GMT) from NASA’s Kennedy Space Centre in Florida. The crew consisted of a billionaire entrepreneur, a retired military fighter pilot, and two workers of SpaceX.
After around ninety-five minutes, the spacecraft entered orbit, and as the crew began to feel the effects of free fall, or zero gravity, they playfully tossed a small plush astronaut toy dog around. Three minutes later, the Crew Dragon spacecraft detached from its supporting trunk, and the cameras inside showed an amazing picture of the Earth lit up by the sun.
By radio, SpaceX Launch Director Frank Messina reminded the crew that their bravery illuminates the path for future explorers as they looked towards the North Star. “Sending you hugs from the ground, we have faith in your abilities, courage, and collaboration to complete the upcoming task,” he said.
The Most Dangerous Mission of Crew Dragon
This special mission is the fifth and most dangerous one that Crew Dragon has undertaken. By the time the spacecraft reaches its final orbital phase, it will have traveled the furthest any human has gone since the Apollo moon landings in 1972, with a range of 190 km (118 miles) near Earth and 1,400 km (870 miles) beyond.
A minor helium leak in ground equipment on SpaceX’s launchpad caused the postponement of a launch attempt last month, just hours before liftoff. After SpaceX repaired the leak, the launch of Polaris was further delayed when U.S. regulators grounded the company’s Falcon 9 due to a booster recovery failure on an unrelated mission.
Previous spacewalks were conducted solely by government astronauts who were highly trained and financially supported. Since its establishment in 2000, there have been around 270 astronauts on the International Space Station (ISS), with 16 of those astronauts hailing from China and stationed on Beijing’s Tiangong space station.
Third-Day Spacewalk Scheduled
On the third day of the mission, at an altitude of 700 km, the Polaris Dawn spacewalk is scheduled to take place, and it is expected to last approximately 20 minutes. All four men will depend on their slimmed-down, SpaceX-built spacesuits for oxygen as the entire cabin of SpaceX’s Crew Dragon craft is gradually depressurised.
The vessel lacks an airlock, unlike the International Space Station. Similar to the method intended for Polaris Dawn, the first U.S. spacewalk was place in 1965 aboard a Gemini spacecraft. The astronaut in a spacesuit was tethered to the outside when the hatch was opened and the pressure within the capsule was reduced.
On 10 September 2024, the venture capital firm Playbook Partners, which was established by Vikas Choudhury, a former president of Jio and an investor in startups, announced that the first closure of its $250 million growth capital fund had been completed at more than $130 million. The fund will provide financial support to growth-stage, technology-enabled businesses operating in big addressable markets that have good operating margins and high growth. The fund will be raised from global investors from Europe, the United States, the Middle East, and India.
In addition to holding interests in firms such as inMobi, Myntra, Fractal, Nazara, PolicyBazaar, Rapido, and others, Choudhury is also a shareholder in ten unicorns, initial public offerings, and exits.
Vikas Choudhury, who was speaking about the new fund, stated that the strategy is not simply to fund, but to generate – cash, connections, and strategic insight – the necessary resources for visionary enterprises to master the art of scaling and institutionalize their leading position.
People Who Are Backing the Venture
Operating partners Manish Choksi (Asian Paints), Aakash Chaudhry (Aakash Education), and Milan Sheth (Ex Automation Anywhere) are among the backers. These individuals have expressed their participation either through their family offices or in their capacity.
Among the members of the fund’s advisory board are Naveen Tewari (inMobi), Nitish Mittersain (Nazara), Sushil Jiwarajka (Ericsson), Dileep Choksi (Ex Deloitte), and Priti Rathi Gupta (Anand Rathi Group). Dushyant Singh, who formerly worked at McKinsey & Co., and Sumit Jain, who formerly worked for Sistema Asia Capital and Kalaari Capital, are members of the fund’s senior investing team.
Before that, Choudhury served as the Chief Executive Officer of AIMIA, a loyalty analytics company, in India till 2017. According to the information provided on his LinkedIn profile, he was also a partner in the multi-family office Pivot Ventures, which specialized in alternative investments, until the year 2023.
India will be responsible for more than fifteen percent of the total growth of the world economy over the next ten years, thanks to the fivefold expansion of the digital economy, which will reach over one trillion dollars. According to Choudhury, the mission of the company is to provide India with the means to expand and transform at an aspirational scale.
What Playbook Does?
“Playbook Partners” is a company that specializes in operator-driven growth capital (GC) for the digital India market. With its headquarters in Mumbai, the company makes investments in growth-stage businesses that are enabled by technology and have shown that they have positive unit economics and are sustainably scaling to market leadership. The company exemplifies the “art of scale” by combining finance with the capability to provide India’s most promising entrepreneurs with the fuel they need to succeed through a combination of data-driven and strategic approaches. Aspirational India is the target of this initiative, which focuses on digital transformation themes such as distribution and disruption, to promote consumption and innovation.
The facility management division of Awfis Space Solutions Limited, which provides flexible workspaces, has been sold to SMS Integrated Facility Services Private Limited for a fee of INR 27.5 crore under a business transfer agreement. This deal, which Awfis has been working with exclusively through Maple Capital Advisors, is set to close in 120 days.
Samara Capital’s SMS Integrated Facility Services (SMS IFS) Private Limited ranks high among the best-integrated facility management companies in India. Across Tier 1, Tier 2, and Tier 3 cities in India, it oversees more than 5,000 facilities for over 500 clients and employs over 21,000 people.
Sustainability advice, technical and managed services, and soft services are just a few of the many integrated facilities management offerings it makes available. For this deal, Awfis retained the services of Singhania & Co.
How Awfis Will Benefit From This Deal
While adhering to the highest standards of compliance and governance, Awfis will be able to reap the benefits of the experience of a specialised player such as SMS, which possesses specific strengths in the areas of people management, digital operations, and facility cost efficiency. The administrative overheads of Awfis will be reduced, compliance requirements will be reduced, and operational efficiencies will be improved as a result of this change.
The Deal Will Enhance the Working Capital of Awfis
The deal will build up working capital, which will contribute to an improvement in the working capital cycle. This will be a cash flow accretive transaction. The company will have more financial flexibility as a result of this improved liquidity, which will allow it to invest more dollars in growth and expansion.
Amit Ramani, Managing Director and Chairman of Awfis Space Solutions, stated that by forming a partnership with a specialist such as SMS, company will be able to effectively allocate its capital and management resources towards key priorities. These priorities include strengthening firm’s position in the market for flexible workspaces, expanding its network, and driving innovation in customer experience and technology integration.
About Awfis
In terms of total centres, Awfis Space Solutions Ltd. (‘Awfis’) is the biggest provider of flexible workspace solutions in India (as of December 31, 2023). Startups, small and medium enterprises (“SMEs”), big organisations, and multinational corporations all rely on its flexible workspace solutions, which cover a range from individual desks to fully tailored office spaces. The seat groups that firm’s flexible workplace solutions can accommodate vary greatly, from one to multiple seats, and its clients can contract them for periods ranging from an hour to several years. From Awfis’ humble beginnings as a shared office space, it has grown into a comprehensive platform for office solutions.
Asthma research is undergoing a groundbreaking transformation, marked by innovative approaches that harness the power of data derived from clinical trials to advance our understanding and management of this complex condition. By utilizing advanced statistical tools and technologies, researchers are delving deeper into the nuances of asthma, uncovering insights that were previously difficult to attain. These data-driven methods are not only improving the accuracy and efficiency of treatment assessments but are also enhancing the overall design and execution of clinical trials, ensuring more reliable and actionable results.
Furthermore, collaborative efforts between clinicians and researchers are playing a pivotal role in accelerating the progress of asthma research. Such partnerships are fostering synergies that bridge the gap between theoretical findings and practical applications, ultimately translating into improved patient outcomes. At the heart of these advancements lies the growing emphasis on personalized medicine, which tailors treatment plans to the unique genetic, environmental, and lifestyle factors of each patient. This individualized approach is set to revolutionize asthma care, enabling more effective management strategies that address the specific needs of diverse patient populations.
As asthma continues to pose significant public health challenges worldwide, these innovative methodologies offer a beacon of hope. By focusing on data-driven solutions and fostering global collaboration in clinical research, the field is poised to make substantial strides toward reducing the burden of asthma and improving the quality of life for millions of individuals affected by the condition. This promising direction underscores the importance of continued investment in research and technology to combat this widespread respiratory ailment.
Dr. Bushra Sumra, a dedicated medical doctor with a Bachelor’s degree in Medicine and Surgery from the University of Nairobi (2017), has made significant strides in advancing asthma care and research. Motivated by her personal experience as a mother to a child with frequent asthma flares, Dr. Sumra has combined her clinical expertise with a relentless pursuit of knowledge. She is currently pursuing a Master’s degree in Infectious Diseases from the University of London, equipping her to better understand and address infectious triggers of airway hypersensitivity, such as Respiratory Syncytial Virus (RSV). Additionally, her postgraduate certification in Clinical Research from Harvard Medical School (FCR 2024) includes an e-poster presentation on The Impact of Asthma on School Absenteeism Among Rural Malawian Children.
Reportedly, Dr. Sumra’s impact at her workplace is marked by her ability to blend clinical practice with data-driven insights. She has utilized statistical tools like SPSS and STATAto analyze clinical trial data, leading to a 25% improvement in treatment assessment efficiency. Her efforts to foster collaboration between clinicians and researchers have expedited research progress and improved patient outcomes, demonstrating her role as a vital contributor to her organization.
Her projects reflect a deep commitment to patient education. As a clinical practitioner, she identified that nearly 30% of patients were misusing asthma medication, often due to improper inhaler techniques. This lack of knowledge frequently resulted in perceived treatment failures and increased healthcare visits. By addressing these gaps, Dr. Sumra significantly improved patient compliance and reduced treatment failures, saving time and costs for both patients and healthcare systems.
In clinical research, she served as a study coordinator for a double-blind asthma trial, where she refined source documents and ensured accurate and timely data collection. This debut study enhanced her understanding of clinical trial processes and underscored her ability to navigate complex research projects.
Dr. Sumra has also successfully tackled challenges, particularly resource limitations in low-income settings. By employing cost-effective tools for data management and analysis, she mitigated the effects of these constraints. The COVID-19 pandemic posed another hurdle, as asthma exacerbations spiked among patients. However, with the advent of vaccination, these complications have seen a decline, marking a turning point in managing respiratory conditions during global health crises.
Moreover, her published works include Impact of Asthma on School Absenteeism Among Rural Malawian Children Aged 6-8: A Comparative Study (Peeref, 2024) and Prevalence of Comorbid ADHD and Asthma in Pediatric Populations (Progress in Medical Sciences, 2022). These contributions highlight her dedication to addressing the multifaceted challenges of asthma in diverse populations.
Looking ahead, Dr. Sumra champions the principles of personalized medicine, advocating for tailored treatment plans that consider the unique genetic, environmental, and clinical profiles of each patient. She also emphasizes the need for global collaboration in clinical trials to address asthma as a pressing public health burden. As a seasoned professional, she envisions a future where innovative treatments, informed by data and global partnerships, transform asthma care into a more precise and patient-centered practice.
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Online grocery shopping is fast gaining popularity among Indians. According to a Redseer report, India’s online grocery retail market is all set to touch $10.5 billion by 2023. A company that holds a huge share of this fast-growing market is BigBasket.
Founded in 2011 by the dot-com bubble survivors V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh, and Abhinay Choudhari, Supermarket Grocery Supplies Pvt. Ltd., trading as BigBasket, became a household name soon after it came into existence.
Headquartered in Bengaluru, BigBasket is currently known as one of India’s largest online grocers and offers an impressive selection of products from over 1,000 brands, delighting over 6 million satisfied customers.
In May 2021, Tata Group became the BigBasket’s owner by acquiring a majority stake of 64% in the company. Tata Sons has acquired a majority stake in BigBasket, putting the Indian conglomerate in a direct race with e-commerce players Amazon, Walmart, Flipkart, and Reliance Industries. The stake was bought by Tata Digital Limited, a unit of Tata Sons.
In this article, you can find detailed information about BigBasket, including the company’s founders, history and journey, business model, revenue, funding, acquisitions, and more.
BigBasket Company Details
Startup Name
BigBasket
Headquarter
Bengaluru, Karnataka, India
Industry
E-commerce, Grocery, Grocery Delivery
Founders
V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh, Abhinay Choudhari
BigBasket is into delivering everyday cooking essentials like ghee (clarified butter), diced coconut, fragrant basmati rice, and more, amounting to a total of over 40,000 items, along with other household products ranging from bread to laundry detergents for the customers to shop from. The company gets all of them delivered to their doorsteps. The target motive of the company is to enable the ease of grocery shopping online to avoid traffic and the drudgery of supermarket visits.
To explore new opportunities, the company has also launched 3 new businesses – bb Daily, bb Instant, and bbnow.
bb Daily isa subscription-based service that allows customers to order milk and fresh groceries. With this platform, the customers have to place the order before 10 PM, and they eventually get the goods delivered between 5 AM – 7 AM the next day.
bb Instant is BigBasket’s unmanned vending machine that is mostly available in corporate offices, tech parks, and apartment buildings in Tier I cities.
bbnow, the rapid grocery delivery service by BigBasket, allows you to order daily essentials like fruits, vegetables, cooking necessities, and household items and have them delivered to your doorstep within just 15-30 minutes.
BigBasket has also launched Fresho stores, which is currently serving as the first offline retail store of BigBasket that has already been opened at Basaveshwar Nagar in Bangalore. These BigBasket stores are technology-driven, self-service stores for customers.
BigBasket – Founders and Team
BigBasket was founded by V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh, and Abhinay Choudhari in 2011. Prior to BigBasket, the founders also founded Fabmart.com, an online platform that sold books, toys, and groceries in the year 1999. Fabmart was sold to a grocery chain in 2006.
Big Basket Founders
V.S. Sudhakar
BigBasket Co-founder V S Sudhakar was the CEO of Planetasia. He has vast experience working in the IT sector.
Hari Menon
BigBasket CEO Hari Menon comes with vast experience in diverse fields. Prior to Big Basket, Menon was the CEO of Indiaskills, the Vocational Education joint venture of Manipal Group with City & Guilds, UK. An alumnus of BITS Pilani, Hari Menon also worked as the Country Head at Planetasia, one of India’s first Internet services businesses. Hari also held top positions with IT majors like Wipro Infotech.
V.S. Ramesh
V.S. Ramesh is theHead of Logistics & Supply Chain at BigBasket. An Electronics Engineering graduate from Karnataka University, V.S. Ramesh has over 21 years of experience in the Indian Navy handling Operations and Logistics. Ramesh is an Electronics Engineer, who earlier co-founded Fabmall.
Vipul Parekh
Vipul Parekh is the Head of Finance & Marketing at BigBasket. Vipul is an alumnus of IIM Bangalore and worked witha range of companies holding key leadership positions including Wipro Limited and Trinethra Super Retail Ltd. He also worked with Peepul Capital Advisors Pvt Ltd., a leading Private Equity Fund as an Investment Director. Parekh also co-founded Fabmall before co-founding BigBasket.
Abhinay Choudhari
Abhinay Choudhari was the Head of New Initiatives at BigBasket along with being a Co-founder. Abhinay is anIIM Ahmedabad alumnus. Besides working with leading IT companies like iGATE & Infosys, Abhinay also founded Stylecountry.com, one of India’s first online fashion retail stores. Stylecountry.com had to be closed down as it did not turn out to be profitable.
Abhinay Choudhari has taken a silent exit from BigBasket on August 5, 2021. Soon after Tata acquired BigBasket in May 2021, Abhinay decided not to continue working in the same firm, which he finally managed to do in August. As a parting note to his employees, Choudhari has mentioned that he left BigBasket only to build another company from scratch due to “the start-up itch” that has been growing in him for nine years. Choudhari hinted to “solve another equally painful chore for many Indian households” in the form of a new business that he will found. Next, he will be looking forward to an online laundry business, as per reports.
TN Hari, who served as the Chief Human Resources Officer (CHRO) at BigBasket for 7 long years, has let people know that he has decided to do something different via his Linkedin handle. TN Hari, in his career with BB, which has now found a new, safe home with the Tata Group acquisition, has already spent 20 years in the Indian startup ecosystem. During these years, he boasts of wearing many different hats as an Angel Investor, Advisor to other VC Firms, Mentor at Startup Accelerators, Sounding Board to Founders, Author, and Columnist. Hari has also revealed that he has been a part of 5 startups to date, 3 out of which have already turned into unicorns. TN Hari has also been identified by Linkedin as one of the top voices of India for 3 consecutive years. Establishing the Artha School of Entrepreneurship is the new goal of this top executive of BB. The mission of Artha would be to accelerate the “journeys of the entrepreneurs in scaling their ventures and contributing to economic and social prosperity of their communities.”
RainCan, which was originally a daily essential subscription-based startup, later acquired by Big Basket in 2018, was eventually rebranded as BBDaily.
BigBasket currently boasts of being a 5000+ strong company.
BigBasket – Startup Story | How BigBasket Started?
All of this began when the BigBasket founders decided to exploit the experience they got after the massive failure of the dot com bubble. Hence, they decided to create a unique website that was never done before. All the founders of Big Basket had garnered relevant experiences in eCommerce when they created Fabmart.com.
Fabmart.com was an online platform that sold books, toys, and groceries in the year 1999. Back then, only within a few months, they realized that not just our country but the whole world was not ready to take this buzz of digitization. In the year 2006, Fabmart was merged with a brick-and-mortar grocery chain and the founders ended up selling their startup for a lump sum amount.
Then came the golden year of 2011, when the team reunited and started re-evaluating the idea of again coming up with something new and exciting. Despite all the criticism they had received back in 1999, they stood very strong on the fact that the time to do something that’d put them on the map was then. In 2011, the smartphone market was booming and anything and everything was available except groceries, of course, and that right then was their Eureka moment.
BigBasket used to fulfill its orders by purchasing products from Metro Cash and Carry stores, prior to setting up its first warehouse.
“We had people in the Metro stores, literally operating that as our warehouse” says Hari Menon, Co-founder & CEO of BigBasket.
BigBasket – Name, Tagline, and Logo
BigBasket Logo
Supermarket Grocery Supplies Pvt. Ltd., trades as “BigBasket,” the name of which is drawn from the idea of shopping baskets, which the company extends to their customers online.
The recent tagline of the brand reflects “Har Din Sasta.”
BigBasket – Business and Revenue Model
BigBasket’s private label business is driven by lower prices and higher margins. Roughly 35% of the revenue comes from private labels. The aim here is to fill the gap in distinct categories like organic food, and high-end consumer products, to name a few. Also, the company offers a lower price point for staples and fruits and vegetables. They also provide idli/dosa batter on their online platform, which is very rare and does not have a lot of competition.
Moreover, on the B2B side, BigBasket serves its private label to about a thousand Kirana stores, huge corporates, and HoReCa (hotels, restaurants, cafes). Regarding Big Basket’s Business Model, Big Basket follows both the ‘inventory model’ and ‘the hyper-local model’.
Under the inventory model, the company buys products from leading suppliers like P&G, HUL, mills, farmers, etc., stores the products in warehouses, and supplies the same to the customers on order. In the case of perishable goods, BigBasket further has tie-ups with local farmers and suppliers from whom it procures the goods as per orders and supplies the same to the customers.
Under the ‘hyper-local model’, BigBasket has a tie-up with 2000+ grocery stores across India to deliver products within one hour from the neighborhood.
With the opening of its physical store, Fresho, BigBasket is also a step ahead in the physical grocery space, which is soon expected to be a revenue generator for the company.
BigBasket – Startup Challenges
One of the main challenges of any startup in India is getting the customers to try the service first since the resistance level is really high. This is followed by retaining these consumers despite all the other factors in the market like competitors, local vendors, and buying habits, which were there for BigBasket too.
Also, since it was one of a kind startup dealing with groceries, which was never the case before, it took a while for the consumers to place trust in a brand like BigBasket and start using its services.
Data Breach Issues
Online grocery store BigBasket faced a massive data breach in November 2020 as the company had allegedly leaked the data of over 2 crore users on the dark web. BigBasket, funded by Jack Ma-owned Alibaba Group, Mirae Asset-Naver Asia Growth Fund, and CDC group has filed a complaint in this regard with Cyber Crime Cell in Bengaluru.
According to media reports, Cyble, a cyber intelligence firm, informed that the grocery e-commerce platform BigBasket leaked data including names, email IDs, password hashes, contact numbers, addresses, etc, on the dark web. Also, Cyble informed that a hacker had put the data on sale for over Rs 30 lakh.
Reacting to this, BigBasket said: “A few days ago, we learned about a potential data breach at Bigbasket and are evaluating the extent of the breach and authenticity of the claim in consultation with cybersecurityexperts and finding immediate ways to contain it. We have also lodged a complaint with the Cyber Crime Cell in Bengaluru and intend to pursue this vigorously to bring the culprits to book.”
Bengaluru-based BigBasket also ensured that the confidentiality and security of customers are their priority and it does not store any financial data (including credit card numbers) etc and is positive that this financial data is secure.
“The only customer data that we maintain are email IDs, phone numbers, order details, and addresses so these are the details that could potentially have been accessed. We have a robust information security framework that employs best-in-class resources and technologies to manage our information. We will continue to proactively engage with best-in-class information security experts to strengthen this further,” the statement by BigBasket read.
Cyble also claimed that the breach may have occurred on October 30, 2020, and it has already informed Bigbasket about it.
BigBasket has raised a total of $1.5 billion in funding over 20 rounds. The latest funding for the company was raised on December 21, 2022, when BigBasket raised $200 million from its majority stakeholder, Tata Digital. This funding round raised BigBasker’s valuation to $3.2 billion.
Here are the details of the latest funding raised by Big Basket:
Date
Stage
Amount
Investors
December 21, 2022
Venture Round
$200 million
Tata Digital
June 2, 2022
Venture Round
$45 million
Supermarket Grocery Supplies
April 13, 2022
Venture Round
$121 million
Supermarket Grocery Supplies
April 15, 2020
Debt Financing
$51.8 million
Alibaba Group
April 9, 2020
Venture Round
$60 million
Alibaba Group
July 2019
Debt Financing
$14 million
Trifecta Capital
May 2019
Series F
$150 million
Mirae Asset-Naver Asia Growth Fund
January 2019
Venture Round
–
Growth Story
February 2018
Series E
$300 million
Alibaba Group
October 25, 2017
Venture Round
$4.3 million
Helion Ventures Partners
October 10, 2017
Debt Financing
$838.1K
Trifecta Capital Advisors
October 1, 2017
Venture Round
$5 million
Bessemer Venture Partners
September 2017
Series E
$280 million
Alibaba Group, Paytm Mall
March 2017
Debt Financing
$6.9 million
Trifecta Capital Advisors
March 2016
Series D
$150 million
Abraaj Group
August 2015
Series C
$50 million
Bessemer Venture Partners
September 2014
Series B
$33 million
Helion Venture Partners
April 2014
Bridge Round
$3 million
Singapore-based private investor
March 2012
Series A
$10 million
Ascent Capital
BigBasket – Acquisitions
Big Basket has made 6 acquisitions to date. Their most recent acquisition was of Agrima Infotech, which the company acquired on February 19, 2022. The Tata-owned online grocery delivery platform has acquired the enterprise business segment of the Kerala-based deep tech company. This deal would allow the company to implement the unique computer vision technology platform, Psyight, at the self-checkout counters of the retail stores of BigBasket. Psyight behaves as a food recognition platform that is powered by the all-new computer vision technology to differentiate raw, cooked, and packaged food items, which will help its parent ahead.
DailyNinja was last acquired startup by BigBasket and the deal was materialized on Mar 24, 2020.
In June 2015, the company acquired ‘Delyver‘, an online platform that connects offline retailers with customers in a neighborhood. In October 2018, Big Basket acquired ‘Raincan‘ a subscription-based service provider for morning and breakfast essentials, headquartered in Pune. In October 2018, Big Basket also acquired ‘KWIK24‘ a company that manufactures and designs smart vending machines. On October 19, 2018, Big Basket announced the acquisition of the Bangalore-based startup ‘Morning Cart‘. Morning Cart is a daily essential ordering platform.
Here are the details of the Acquisitions by BigBasket:
Acquired
Date
Agrima Infotech
February 19, 2022
DailyNinja
March 24, 2020
Morning Cart
October 19, 2018
KWIK24
October 19, 2018
Raincan
October 18, 2018
Delyver
June 12, 2015
BigBasket – Growth and Revenue
Tata Digital’s acquisition of controlling stakes in BigBasket in May 2021 has played a pivotal role in fueling the company’s growth trajectory.
BBNow
BBNow marks a significant game plan for BigBasket’s growth strategy. Officially launched in Bengaluru, this quick-commerce service enables lightning-fast grocery deliveries to customers within 15–30 minutes, catering to the urgent needs of its existing customer base. With BBNow, BigBasket aims to further solidify its position in the e-grocery market and tap into the increasing demand for rapid and convenient grocery delivery services. The introduction of BBNow allows the company to compete more effectively with other quick-commerce players like Swiggy Instamart and Zepto, presenting exciting growth opportunities for BigBasket in the fast-paced and competitive market landscape.
Fresho
BigBasket launched its first physical store, “Fresho” in Bangalore, in the last week of October 2021, as confirmed via an internal company email. The mentioned store has been open to the customers of Bangalore’s Basaveshwar Nagar since October 25, 2021, according to BigBasket co-founder VS Sudhakar, who informed the same to all the employees of the company. While writing about Fresho in his email, Sudhakar described the opening of the store, which is currently operational from 8 in the morning to 9 in the night, as an “extremely key, strategic initiative.”
BigBasket User Acquisition
BigBasket’s mobile app is currently accessed by over 6 million customers across the country, being operational in 26+ cities in India.
An interesting strategy that BigBasket follows to attract customers is that the company keeps into account the varied needs and different shopping habits of its customers belonging to different cities. The amount of attention the founders paid to little details put them in a competitively better position.
The team did their planning city-wise. They increased the number of leafy greens in Mumbai, supplied a special kind of rice (called Sona Masoori) in Bangalore, and went as far as providing eight different kinds of eggplants to picky customers. All in all, the company ensured its quality was nothing short of perfection.
Timely delivery is the essence of online shopping hence the team put a focused approach to this. They devised a model of customized software that automatically guides drivers to their destinations and helps the company achieve a near-perfect on-time rate. Late deliveries earn customers a 10% discount. Missing items are refunded at a cost that is 50% of whatever the item cost is.
BigBasket Financials
Bigbasket Financials
FY23
FY24
Operating Revenue
INR 9468.5 crore
INR 10061.9 crore
Total Expenses
INR 11284.7 crore
INR 11515 crore
Profit/Loss
INR -1785 crore
INR -1415 crore
BigBasket Financials FY24
BigBasket’s operating revenue increased by about 6.3% from FY23 to FY24, growing from INR 9,468.5 crore to INR 10,061.9 crore. Total expenses rose by around 2%, from INR 11,284.7 crore in FY23 to INR 11,515 crore in FY24. The company’s losses decreased by roughly 20.7%, from INR 1,785 crore in FY23 to INR 1,415 crore in FY24.
Bigbasket
FY23
FY24
EBITDA Margin
-14.02%
-9.39%
Expense/₹ of Op Revenue
Rs 1.19
Rs 1.14
ROCE
-51.37%
-70.62%
BigBasket’s B2C arm reported revenue from operations of INR 7,434 crore in FY23, reflecting a modest 4.8% growth compared to FY22 when the company’s revenue stood at Rs 7,095 crore.
In FY23, BigBasket’s B2C arm witnessed an 89% surge in losses, reaching Rs 1,535 crore, compared to Rs 813 crore in FY22.
Total expenses for the B2C arm increased by around 13% from Rs 7,929 crore in FY22 to Rs 8,998 crore in FY23. This rise in expenses was primarily attributed to higher employee benefit expenses, finance costs, and other miscellaneous expenses. Specifically, Innovative Retail spent Rs 916 crore on employee benefits in FY23, representing a 24% increase compared to Rs 739 crore spent in FY22.
BigBasket – Partnerships
Some of the BigBasket partnerships include:
Bigbasket partnered with Uber on April 3, 2020, where Uber’s driver-partners sought an association with the former to help the company deliver everyday essentials to its customers and others during the pandemic onslaught. Bengaluru, Hyderabad, Chandigarh, and Noida were the first four cities to witness the same.
BigBasket partnered with Rajasthan Royals on September 16, 2020, who was declared as the official partner of the IPL team for the 2020 edition of the Indian Premier League.
BigBasket also became a partner with the New Zealand Trade and Enterprise on October 19, 2021, to deliver food products and groceries in India.
BigBasket – Awards and Recognitions
Among the major awards and recognitions that BigBasket won are:
BigBasket is recognized as one of the ‘Top 50 India’s Best Companies To Work For – 2023’ by Great Place to Work® India.
BigBasket ranked in the ‘Top 3 Best Places to Work’ in E-commerce and ‘India’s Best Workplaces in Retail’ for the third consecutive year in 2023.
It was declared the ‘Retail and eCommerce App of the Year’ at YourStory’s AWS Mobility Awards in 2017.
Owler has conferred upon BigBasket CEO Hari Menon the Top Rated CEO Award in 2017.
The company was placed 2nd at the Global E-Commerce Award ceremony hosted by Ecommerce Europe in Barcelona.
BigBasket Co-founder Abhinay Choudhari was awarded the IIMA Alumni Young Achievers’ Award.
BigBasket – Competitors
Despite growing at an increasing rate, BigBasket faces cut-throat competition in the market. Some of the major competitors of BigBasket are:
Though these players are acquiring strong market standing with time, the company tends to stand fit and fine and win the market with its large and ever-increasing consumer base. BigBasket is now doubly strong under the management of Tata.
BigBasket – Future Plans
As per reports, BigBasket plans to raise $80-100 million in debt and equity to drive business ambitions.
BigBasket has strong plans of retaining its post as the largest grocery delivery platform in India. So, the plan is to set up warehouses in all 26 operating cities of India to bring down the delivery time to 3 hours.
Big Basket has launched Fresho stores, and opened the first of their kind in Bengaluru, thereby entering the offline retail market. According to BigBasket’s co-founder and CEO Hari Menon, the goal is to achieve Rs 12,000 crore in sales by 2026 through 800 Fresho stores spread across 10 tier-1 cities.
As part of its future plans, Tata-owned BigBasket is considering launching an initial public offering (IPO) by 2025.
FAQs
What is BigBasket?
BigBasket is an Indian online grocery delivery service founded in 2011 and headquartered in Bangalore, offering a wide range of products delivered to customers’ doorsteps.
Who is BigBasket’s owner?
BigBasket is owned by the Tata Group.
Who are BigBasket’s founders?
BigBasket was founded by V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh, and Abhinay Choudhari.
What is bigbasket bbnow?
bbnow, the rapid grocery delivery service by BigBasket, allows you to order daily essentials like fruits, vegetables, cooking necessities, and household items and have them delivered to your doorstep within just 15–30 minutes.
What is Bigbasket Wallet?
The Bigbasket Wallet is a pre-paid credit account that is associated with your Bigbasket account. This prepaid account allows you to pay a lump sum amount once to Bigbasket and then shop multiple times without having to pay each time.
A statement from the state government of Tamil Nadu stated that the electronic component supply company Jabil intends to invest INR 2,000 crore to establish a manufacturing plant in Trichy, resulting in the creation of around 5,000 employment opportunities in the state.
On September 10, in the United States, the supplier to Apple, Cisco, and HP signed a contract with the state, with Chief Minister MK Stalin in attendance. Stalin posted on X, confirming the investment request and stating that important investments had been acquired for the industrial prosperity of Tamil Nadu! Jabil, a world-renowned EMS provider, has made a massive investment of INR 2,000 crore in Tiruchirapalli. A new cluster for electronics manufacturing will be formed, and 5,000 employment opportunities will be created as a result of this.
Tamil Nadu Has Become Apple Suppliers’ Hub
All of the key Apple suppliers, including Foxconn, Pegatron, Tata Electronics, and Jabil, will be located within the state as a result of this. The announcement stated that this would result in the transformation of Trichy and the creation of a new electronics hub.
Additionally, the Chief Minister stated that Rockwell Automation is expanding its manufacturing plans in the state by investing INR 666 crore in Kanchipuram, which will create 365 new jobs. A memorandum of understanding has been signed with Autodesk to “skill youth and boost MSMEs and startups, strengthening our overall industrial ecosystem.”
Following the signing of deals with Nokia, PayPal, Applied Materials, Yield Engineering Systems, Microchip, and Infinx on August 30, the government of Tamil Nadu has now inked agreements with these companies. The agreements were signed by Chief Minister MK Stalin and Industries Minister TRB Rajaa, both of whom are currently in the United States.
CM Encouraging Investors to Invest More
An R&D center for Nokia, which will be one of their largest fixed network test beds in the world, will be established at SIPCOT in Siruseri, Chengalpattu, for INR 450 crore. The center will be used for the development of innovations in 10G, 25G, 50G, and 100G PON, as well as fixed wireless access and MDU solutions. The institution will also generate 100 jobs, according to a statement released by the state industries department.
Furthermore, CM Stalin on September 8th extended an invitation to senior officials of BNY Mellon Corporation (The Bank of New York Mellon Corporation) to make fresh investments in the state.
A conversation about the exploration of new investment prospects in artificial intelligence was held on September 7 with BNY Mellon by the CM, who is presently on a tour of the United States.
With the increase of technology and advancement in the broadcast industry, government funding channels such as Doordarshan need to be more outspoken. The Indian TV industry has grown massively, as of today, there are around 890 channels.
Like every other household has a television in their houses, the demand for more variety in channels increased which resulted in India being the third-largest market across the world, right after China and the US. However, Doordarshan was not inclined toward this race. The channel lost a large proportion of viewers, mainly because of satellite TV.
There was a time when Doordarshan reached over 90 percent of households in the country, but with such huge channel options, it is not preferred by most households.
The triggering fact is, that this isn’t limited to Doordarshan only, almost every government-based organization such as BSNL and AIR, lost audiences and customers in a very large number.
As private organizations are facing extreme difficulty in surviving in the market, competition has risen massively. Because of this, the government established a committee under Sam Pitroda to improve the marketing strategies and revenue styles in Prasar Bharati, under which Doordarshan is controlled. However, there is still a long run for Doordarshan to boost up its revenue source and face the growing competition in the market.
Since private television channels were allowed in 1991, Doordarshan has seen a sharp drop in viewership. Despite generating substantial advertising revenue from mandatory broadcasts of major national events, such as cricket matches, there has been a proposal to introduce a television ownership license fee in India to support its funding.
Now, this brings us to the main content of this article, that is, how Doordarshan was the biggest marketing channel, what went wrong, and why it failed.So, let’s get started!
History of Doordarshan
Doordarshan started as an experimental broadcaster in the year 1959, with a small transmitter along with a makeshift studio. It is the first-ever TV channel in India, also called the Free Dish as being a free entertainment platform.
Within a few years, Doordarshan became a huge success in the broadcast industry and reached over 25 million households. It covered all fields such as information & news, education, entertainment, and others.
The reason why Doordarshan was praised so much by the Indian audience was that it carried the interests of all the geographical, linguistic, and cultural groups. With time, Doordarshan grew into a large network of 36 satellite channels, which provided a free DTH service of 110 in its Bouquet.
Leading Television Channels Across India in Week 14 of 2024, by Weekly Viewership
What Led to the Downfall of Doordarshan
The Massive Decline in Doordarshan’s Ratings
With the growing demand for commercialization, Doordarshan began auctioning slots to private broadcasters. This resulted in 80 channels, 24 DD, and around 25 private with auctioning every month. However, this didn’t turn out as expected as a large portion of Doordarshan’s audience base shifted massively towards the private broadcasters. This led to a massive decline in the ratings and revenue of DD.
Disastrous Advertising Model
The advertising model of Doordarshan was a bit of a disaster for it as it stipulated that the private channels would not share their revenue with the DD platform. So, earlier, the private channels paid INR 8 crore per annum to DD Free Dish for transmission, annually which generated INR 2,500 crore in its total revenue, and became zero after its new advertising model.
This resulted in the fall of Doordarshan’s advertising revenue from INR 1,301 crore to INR 475.7 crore. And among this, around INR 318.06 crore entirely came from government ads so the final revenue that DD generated was INR 157.59 crores.
Absence of Proper Marketing Division
Another big flaw in the marketing strategy of Doordarshan is the lack of a proper and independent marketing division. And because of this, when the private channel charged INR 90,000 to INR 1.2 lakh for a 10-second slot, Doordarshan charged merely INR 65,000 for the same slot.
They didn’t have any team for strategic planning, research, advertising, internet handling, product management, branding, or any other. This played a major role in the downfall of Doordarshan and gave major advantages to private channels.
Conclusion
In conclusion, we can say that there was a time when Doordarshan used to rule the broadcast industry in India. But to stand still in the market, one needs to adapt to the advancement in technology and marketing. And Doordarshan failed in both of these. Plus, as being funded by the Government it did not make enough profit and in fact, runs in a loss.
The former Prasar Bharti chief Jawhar Sircar blamed the incompetence, poorly backed policies, and lack of ambition, for the failure of Doordarshan rather than the competition. The irony here is, that most of the famous shows preset on Doordarshan were created by private producers.
When they found better opportunities, they grasped onto them. For now, the best strategic planning of Doordarshan is to take the BBC model to enhance its marketing planings and strategies. Stay tuned for more such content!
Foreign Venture Capital Investors (FVCIs) can now be more easily registered thanks to new regulations announced by the capital markets regulator Sebi. Designated depository participants (DDPs) are now responsible for evaluating post-registration references and granting registration to foreign variable capital investment (FVCI) companies, in accordance with the rules established for foreign portfolio investors (FPIs).
The process of acquiring a registration certificate as an FVCI begins with an application engaging a DDP, and the DDP and custodian of the FVCI must always remain a single entity.
Currently, the Securities and Exchange Board of India (Sebi) handles the processing of applications for registering FVCIs and any associated due diligence.
In a notice published on September 6, the regulator, Sebi, stated that to engage in securities transactions as a foreign venture capital investor, one must first obtain a certificate issued by a certified depository participant on behalf of the Board (Sebi).
What Steps Do FCVIs Need to Follow?
A domestic custodian must be appointed by FVCIs under the current regulations to oversee FVCI investments in India and provide Sebi with reports and other information regularly.
If the notice is to be believed, before making any investments subject to these restrictions, a foreign VC or global custodian representing the VC must engage in an arrangement with a designated depository participant and a custodian.
Eligibility Criteria for FVCI
The eligibility criteria for FVCI have also been expanded by the regulator to include Overseas Citizens of India (OCIs), Non Resident Indians (NRIs), and Resident Indians (RIs). The following requirements must be met: the total contribution from all NRIs, OCIs, and RIs must not exceed 25% of the applicant’s corpus; the combined contribution from all of them must not exceed 50% of the applicant’s corpus; and they must not be under the applicant’s control.
Investment trusts, mutual funds, endowment funds, pension funds, investment partnerships, asset management companies, investment managers, and university endowment funds, as well as any other investment vehicle incorporated outside of India, are currently eligible to apply for registration as an FVCI.
Additionally, FVCIs must save their assets in a demat format. This will be put into action on January 1, 2025, thanks to Sebi’s revised regulations for foreign venture capital investors.
Founded and based outside of India, FVCI is a major investor in the unlisted stocks of VC funds and venture capital undertakings. So far in March of 2023, 269 FVCIs have been recorded with Sebi. Additionally, within the same period, FVCIs invested a total of INR 48,286 crore directly into investee companies.
Several important topics were discussed at the 54th Goods and Services Tax (GST) Council meeting, including online payment processing, the use of helicopters for religious reasons, and the taxation of R&D in educational institutions. In August 2024, India’s Goods and Services Tax (GST) receipts were INR 1.75 lakh crore, down from INR 1.82 lakh crore the month before.
Digital payments, insurance, and education are just a few of the areas that could be affected by the several recommendations that the Council considered, even though the overall rise of GST was relatively constant at about 10%, showing resilience in domestic revenue collection. The government’s cautious approach to tax reforms was signaled when these suggestions were forwarded to the fitment committee for additional examination.
Growing Domestic Revenue and GST Patterns
GST receipts in India increased by 10.1% to INR 9.14 lakh crore in the first half of the fiscal year. There was a 9.2% increase to INR 1.25 lakh crore in domestic revenue, and an even quicker growth of 12.1% to INR 49,976 crore in revenue from imports. Despite a reduced rate of growth in net domestic revenues (4.9 percent after refunds), this expansion exemplifies the economy’s continuous recovery.
Notably, overall net GST revenue stood at INR 1.5 lakh crore, representing a 6.5 percent increase compared to the same month last year. Integrated Goods and Services Tax (IGST) revenues recorded a greater gain of 11.2 percent. A further important factor was the distribution of refunds, which totaled INR 24,460 crore (58% of which went to domestic refunds and the rest to exporters).
The insurance sector plays a significant part in India’s tax system; in 2023-24, the federal government and individual states collected INR 8,262.94 crore from health insurance premiums and INR 1,484.36 crore from reinsurance premiums.
Helicopter Services Subject to Lower GST Rates
The GST Council eased the financial burden on tourists and pilgrims by lowering the tax on religious helicopter services from 18% to 5%. Devotees who use helicopter services for pilgrimages to religious locations around India are expected to feel less financial strain as a result of this action.
In areas where pilgrimage sites are difficult to reach, this GST cut will make helicopter services more cheap, encouraging more people to travel there for religious purposes.
Market Behaviour and Insurance Rates
Discussions regarding the Goods and Services Tax (GST) on health and reinsurance premiums have also centered on the insurance industry. Health insurance premiums generated INR 8,262.94 crore for the government as of August 2024. Nevertheless, the insurance sector’s taxation has not been changed in any significant way.
Following the meeting of the GST Council, the stock market responded to the premium uncertainty by trading down in the shares of Star Health, ICICI Lombard General Insurance, and Go Digit General Insurance. These businesses could feel the effects of the upcoming health insurance pricing decision, which has already dampened investor enthusiasm.
Examining Research and Development Efforts
Given the notices received by DGGI to universities regarding research funds, the fitment committee will conduct an additional evaluation of the subject of GST on R&D operations in educational institutions. Some universities, like Punjab University and IIT Delhi, have received notifications regarding research funding worth INR 220 crore; they are now seeking for clarification regarding the treatment of these grants under GST.
Institutions of higher learning that depend on research funding are particularly affected by the decision about the GST applicability to these awards. The academic sector may need to consider the recommendations of the fitment committee in the long run.
Nitin Konde
