Last updated on March 25, 2020
BigBasket mentioned it has acquired micro-delivery startup DailyNinja to consolidate its subscription delivery enterprise.The deal is estimated to worth Bengaluru-based DailyNinja at round Rs 48 crore in inventory, folks conscious of the matter informed ET requesting anonymity. The on-line grocery delivery startup had earlier acquired Pune-based RainCan and Bengaluru-based Morningcart for its morning delivery service, BBDaily.
While DailyNinja has round 1,10,000 every day transacting prospects and a community of two,000 milkman companions throughout India, BBDaily makes about 1,60,000 deliveries per day.
“Business with small merchants is a key and rising a part of BigBasket’s enterprise,” said Hari Menon, Co-Founder and Chief Executive Officer of BigBasket. “We additionally goal to enhance delivery productiveness and obtain breakeven a lot before deliberate.”
In November, ET reported that the hyperlocal milk delivery segment is anticipated to see additional consolidation over the subsequent 9-12 months, pushed by poor economics, complicated provide chain and longer gestation interval to profitability.DailyNinja counts Matrix Partners and Sequoia Capital as buyers and has raised about $10 million.
Micro-delivery startups make early-morning deliveries, usually earlier than 7 am, from a choose set of grocery gadgets and milk that are ordered earlier than 11 pm the earlier evening. These gadgets are left at a buyer’s doorsteps — much like what conventional milkmen do, with out ringing the doorbell on most events.
However, in micro delivery particularly, the dimensions of operation density must be massive to make unit economics viable. As of now, that is solely potential in condominium complexes and areas the place the family density is excessive.