Retail in Asia

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Indian online grocer Bigbasket eyes USD1b revenue by 2018

Online grocer Bigbasket is looking to touch a revenue of USD1 billion by 2017-18 and be among the top three grocery players in India (including offline stores) from a current revenue of INR210 crore.

Bigbasket is in the process of raising INR800 crore or about USD120 million to fund its expansion and acquire new customers. It currently has a customer base of around 800,000 and about 1.5 million registered users. The mobile application is downloaded by over 1 million users every month and the average visits per customer stands at around 2.6 per month.

As a part of its plans to expand footprint, Bigbasket aims to be in 28 cities by February next year that would include 20 tier II cities. It is already present in the tier I cities of Bangalore, Mumbai, Hyderabad, Pune, NCR and entered Ahmedabad today. It would start Kolkata operations in about a fortnight. The second leg of expansion would come from the tier II cities like Surat, Vadodara, Mysore, Madurai, Vijayawada, Nasik, Patna, Bhopal, Indore etc.