The Neon Show BigBasket Co-founder On 10 Min Delivery, Zepto, TATA Acquisition, Wealth Creation & More
In the competitive world of online grocery shopping, BigBasket is a name that stands out.
But how did they get here?
By 2011, smartphones were everywhere, and you could buy almost anything online—except groceries. The co-founders decided to try the grocery game online again, leading to the birth of BigBasket.
In 2015, BigBasket pioneered the dark store model, using small, strategically placed warehouses to speed up deliveries and roll out express delivery services.
In May 2021, Tata Digital, a subsidiary of Tata Sons, acquired a 64% stake in stake in BigBasket for about $1.5-2 billion from major shareholders, including Alibaba and Actis.
In this episode of Neon Show, Vipul Parekh, the visionary co-founder of BigBasket, shares his invaluable insights and experiences from his entrepreneurial journey. Vipul shares candid insights on the recent disruption in the online grocery space with the rise of quick commerce.
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Timestamp
00:00 Introduction
01:14 Reflections on building BigBasket for 13 years
02:21 Admitting wrong predictions about online grocers
03:25 Analysis of online grocery delivery changes in India
05:30 Factors behind quick commerce success in India
07:45 Quick Commerce's success in India vs. other countries
09:22 Profitability challenges for dark stores
11:52 BigBasket's market share and transition plans
13:06 Leveraging Tata Group synergies in retail
15:36 Shift in household behaviour towards quick commerce
21:53 Why India doesn't have its own Walmart-equivalent
23:15 Learnings from Big Basket
28:22 Tata's long-term approach to business
30:04 BigBasket founders' future involvement
31:47 Lessons from Tata
33:00 Implementing financial governance at BigBasket
36:08 Trillion-dollar question
39:49 Potential for $100B Indian Startups
45:18 Building financial independence through startups
49:15 Hard work Vs Luck
52:20 Vipul's background
55:40 Time in Wipro and meeting VS Sudhakar
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Hi, I am your host Siddhartha! I have been an entrepreneur from 2012-2017 building two products AddoDoc and Babygogo. After selling my company to SHEROES, I and my partner Nansi decided to start up again. But we felt unequipped in our skillset in 2018 to build a large company. We had known 0-1 journeys from our startups but lacked the experience of building 1-10 journeys.
Hence was born The Neon Show (Earlier 100x Entrepreneur) to learn from founders and investors, the mindset to scale yourself and your company. This quest still keeps us excited even after 5 years and doing 200+ episodes.
We welcome you to our journey to understand what goes behind building a super successful company. Every episode is done with a very selfish motive, that I and Nansi should come out as a better entrepreneur and professional after absorbing the learnings.
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This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.