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Nov 16, 2018 | BigBasket records sales of over Rs 2,000 crore

Read More>> MUMBAI: BigBasket, India’s largest online grocer, said it crossed Rs 2,000 crore in sales and almost doubled the number of customers in the year ended March, indicating a growing preference for online grocery-shopping in the country. 

“We hope to clock Rs 3,500 crore in the current fiscal and invested heavily on marketing, analytics and creating infrastructure to help maintain our focus on customer experience,” said Hari Menon, founder of the company, which raised $300 million from Alibaba earlier this year.  BigBasket had previously raised funds from investors such as Sands Capital, International Finance Corp. and Dubai-based private equity investor Abraaj Capital. 

BigBasket has two operating entities. Supermarket Groceries sources products and sells them to Innovative Retail Concepts, which runs the consumer-facing portal and makes last-mile deliveries to comply with foreign direct investment norms in direct online retail. The company didn’t disclose its earnings but said it is profitable  ..