- Online grocery startup Bigbasket on Monday acquires a 100 percent stake in DailyNinja, a daily milk delivery app located in Bengaluru.
Online grocery startup Bigbasket on Monday acquires a 100 percent stake in DailyNinja, a daily milk delivery app located in Bengaluru.
The online grocery company has paid between $15-20 million for the purchase, said a person who is aware of the deal asking for anonymity.
The acquisition will allow Bigbasket to consolidate its role of leader, especially in the Bengaluru subscription delivery room.
It will also enable the milk delivery service of Bigbasket— BB Daily— to expand its daily business by 150 percent -200 percent over the next 12 months. DailyNinja currently has about 110,000 customers doing daily transactions which will now help BB Daily grow its user base.
BB Daily currently delivers about 160,000 deliveries a day, including a wide variety of fresh fruits and vegetables, bread, dairy & eggs, and a large selection of everyday essential items such as cereals for breakfast, tender coconut, personal care, and baby care products, etc.
BB Daily will also have access to the network of 2000 milkman partners from DailyNinja, distributed across India. The merger with Bigbasket would give DailyNinja an opportunity to double its business in a month’s time by leveraging the supply chain capabilities of BB. Customers of DailyNinja will be able to access the extensive non-milk collection from BB Daily.
Speaking of the acquisition, Bigbasket, Hari Menon, Co-Founder, and CEO, said business with small traders is a crucial and growing part of Bigbasket’s strategy.
“DailyNinja currently has a broad network of milkman partners that will allow us to extend our BB Daily offerings. Our partnership with key national brands as well as the supply chain that has been built over the years will help us provide them with a strong value proposition. We also strive to boost delivery quality and reach break-even much earlier than expected, “Menon said.”
We are pleased to be part of Bigbasket, this is a fantastic outcome for all of our team members, shareholders and us founders. Bigbasket was the organization we wished to imitate when we started DailyNinja 5 years ago and we are proud to be part of the BB Family now, “added Sagar Yarnalkar.
Since the launch of BB Daily in December 2018, Bigbasket has concentrated on expanding its subscription business to meet its clients ‘ recurring consumption needs at low delivery costs. Bigbasket customers are actually charging upper and lower delivery rates, which is ignored when a customer selects a subscription kit.