Online grocery delivery startup Bigbasket on March 24 announced the acquisition of 100 percent stake in Bengaluru-based milk delivery app DailyNinja. The move is a step towards consolidating its subscription delivery business, especially in Bengaluru.
The Alibaba-backed company will now have access to DailyNinja's network of 2,000 milkman partners across India. The merger comes at a time when online grocers are struggling to meet increased demand on account of the 21-day complete lockdown in wake of novel coronavirus, or COVID-19, pandemic.To catch all live updates on the coronavirus pandemic, click here…
BigBasket said in a statement that the merger would help DailyNinja “grow its business twofold within a month by leveraging BigBasket's supply chain capabilities. Also, DailyNinja's customers can access BBDaily's non-milk range.”
The deal is estimated to value Bengaluru-based DailyNinja around Rs 48 crore in stock, sources told The Economic Times
BigBasket had in 2018 acquired Pune-based RainCan and Bengaluru-based Morningcart for its morning delivery service, BBDaily. The latter is a subscription service which allows customers to order milk and other daily essentials the previous night and have them delivered the following morning.
At present, DailyNinja sees around 1.1 lakh customers transacting daily as against about 1.6 lakh deliveries for BBDaily.Subscribe to Moneycontrol Pro's Annual plan for Rs 399/- for the first year. Use coupon PRO2020 (Available on Web & Android only).
Original Source: https://www.moneycontrol.com/news/business/online-grocer-bigbasket-buys-milk-delivery-app-dailyninja-transaction-valued-around-rs-48cr-5070511.html