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 5 days ago
 Source: economictimes.indiatimes.com

BigBasket acquires micro-delivery firm, DailyNinja

Quick Summary

BENGALURU: BigBasket has acquired micro-delivery startup DailyNinja to consolidate its subscription delivery business. The deal values Bengaluru-based DailyNinja at around Rs 48 crore in stock, people aware of the matter told ET requesting anonymity.The online grocery delivery startup had earlier acquired Pune-based RainCan and Bengaluru-based Morningcart for its morning delivery service, BBDaily. While DailyNinja has around 1,10,000 daily transacting customers and a network of 2,000 milkman partners across India, BBDaily makes about 1,60,000 deliveries per day.“Business with small traders is a key and growing part of BigBasket’s business,” said Hari Menon, CEO of BigBasket. “We also aim to improve delivery productivity and achieve breakeven much sooner than planned.”In November, ET reported that the hyperlocal milk delivery segment was expected to see further consolidation over the next 9-12 months, driven by poor economics, complex supply chain and longer gestation period to profitability. DailyNinja counts Matrix Partners and Sequoia Capital as investors and has raised about $10 million.

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