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We frequently and for various reasons swipe over the screens of our mobile phones as we advance in the modern world. We swipe the screens of our mobile devices to shop, learn, unwind, and complete a never-ending list of other needs. Utilizing our cellphones has undoubtedly been beneficial; they have practically made the globe seem more manageable. With mobile phones, our everyday wants and requirements are now closer than ever. We no longer need to go to the market to get our daily necessities, such as grains and vegetables. All we require is an internet-connected mobile phone! These days, you may place orders from a wide variety of apps, websites, and businesses; Grofers/Blinkit is among the most well-known. This online retailer has provided us with a range of everyday products that have made our lives easier.
When you talk about placing an order for groceries and everyday items, what first comes to mind? Of course, the list of fruits, veggies, and groceries that you need to get is what you should order first, but the application or website should appear on the list second!
In keeping with its tagline of delivering groceries in the blink of an eye, Softbank-backed online grocery delivery startup Grofers has renamed as Blinkit. Zomato currently owns Blinkit after the foodtech unicorn purchased the latter on June 24, 2022, for $569 million (Rs 4,447 crore).
In 2013, the Indian on-demand online grocery delivery business Grofers, based in Gurugram, was established. It is currently known as Blinkit. Customers may purchase a wide range of everyday necessities from groceries to bakery goods, infant care products, and much more on this e-commerce startup platform.
Customers purchase and order products from Grofers at a prearranged time via the Blinkit mobile application, and Grofers staff members deliver the goods to the customers. As Blinkit, the business is currently active in more than 23 Indian cities.
Grofers delivers orders in ten minutes in what way?
Grofers announced in June 2021 that it has revamped its delivery process from the ground up and now promises delivery ten minutes after an online purchase is placed. Within the next 45 days, the well-known online food marketplace guarantees that orders placed in places where Grofers is present will be delivered in less than ten minutes. Across the nation, individuals have expressed extreme disapproval of Grofers for allegedly "exploiting" its personnel in order to fulfill their 10-minute delivery guarantee.
Albinder Dhindsa, one of Grofers' founders, appropriately responded to the criticism the company has gotten by saying,
It saddens me that, rather than applauding India's inventiveness, some of us continue to be mistrustful of those attempting to challenge the established quo.
Dhindsa clarified how Grofers is able to deliver food in 10 minutes by pointing out that one of the company's partner stores is located within 2 kilometers of the clients, which is a significant advantage.
The organization has more than 60 partner stores in Delhi and has grown to over 30 partner stores in Gurgaon, in addition to a respectable number of partner stores in other beneficial cities like Mumbai, Kolkata, Bengaluru, etc.
In addition, Dhindsa noted in his Twitter post that even if the drivers traveled at 10 km/h, Grofers could easily deliver 90% of the orders in 15 minutes due to the businesses' close proximity. Furthermore, Grofers' in-store planning and administration are now so well-organized thanks to cutting-edge technologies that they can pack orders in as little as three minutes after they are received.
Moreover, Grofer riders have no (negative) motivation to complete requests quickly. Dhindsa observed that they operate according to their own cadence and pace. In closing, the creator stated that Grofers has not had any recorded rider accidents, citing data from the previous two months since they implemented the 10-minute grocery delivery process.
Grofers is now twice as prepared to deliver groceries quickly as Blinkit. When asked why Blinkit (formerly Grofers) places such a strong emphasis on speedy commerce, Albinder Dhindsa, co-founder and CEO of the company, responded that, given the fast-paced lifestyle that people lead today, the company's 10-minute delivery should not only be feasible but essential. They will be able to spare time for more essential tasks as a result.
Now a Zomato subsidiary, Blinkit was acquired by Zomato!
After months of talks, discussions, loans, and what-not, Zomato acquired Blinkit. On June 24, 2022, the board of the well-known foodtech company run by Deepinder Goyal finally gave its approval for Blinkit's acquisition. Zomato had purchased the online grocery delivery business for $568 million in all-stock terms.
The latter's board approved the purchase of up to 33,018 equity shares from Blink Commerce Pvt Ltd's stockholders. This was approved for a total purchase cost of Rs 4,447.48 crore ($569 mn), according to the company's BSE report.
The $1 billion initial valuation of Blinkit was slashed by 43%. According to the obtained documents, the agreement also includes Zomato Hyperpure, the company's business-to-business division, purchasing BlinkIt's B2B business, Hands on Trade Private Limited (HOTPL), which provides warehousing and associated services, for a sum of Rs 60.7 crore.
Albinder Dhindsa and Saurabh Kumar, two IIT graduates, started Grofers.
Albinder Dhindsa is the CEO and one of the founders of Blinkit, formerly known as Grofers. After completing his MBA studies at Columbia Business School, Dhindsa was educated at the Indian Institute of Technology, Delhi.
Prior to working as an Associate and Senior Associate at UBS Investment Bank and Cambridge Systematics, Dhindsa began his career at URS Corporation as a Transportation Analyst.
After that, Dhindsa started working at Zomato as the Head of International Operations, a role he held for more than 2.5 years. In December 2013, he co-founded Grofers, which is now Blinkit, after eventually leaving the company.
Saurabh was another Grofers founder. He graduated as a B.Tech Civil Engineering student at IIT Bombay. He received an MS in Transportation Engineering from The University of Texas at Austin.
Saurabh also worked at Cambridge Systematics, where he introduced himself to Albinder. Kumar left the company to work as an Associate and COO at two other startups - Opera Solutions and Rasilant Technologies Pvt Ltd. - before co-founding Grofers/Blinkit with Albinder, which launched its app in December 2014.
Saurabh had departed Grofers on June 18, 2021. In the month of September 2021, Kumar founded Warpli, an e-commerce platform that has been dubbed the "e-commerce of the future." According to recent reports, Kumar's newly created firm intends to rapidly expand.
Grofers' CTO, Jacob Singh, stepped down from the firm and his job in July 2020. He played a significant role in the design, development, and expansion of Grofers' paid loyalty program. Singh, a Berkeley City College alumnus, worked as a Country Head for Acquia before joining Grofers and is presently a CTO in residence at Sequoia Capital.
According to sources close to the company on July 12, 2022, Blinkit promoted Rishi Arora to Co-founder two months before the acquisition agreement closed in June 2022. Arora has been with Blinkit for over 8 years and was previously the Senior Vice President of Operations.
After graduating, Albinder worked as a transportation analyst for URS in the United States. He met Saurabh Kumar at work and stayed in touch with him without thinking of starting a business.
Both Albinder and Saurabh saw a significant need in the supply sector. Both saw an opportunity because it was a time when many companies were being founded.They recognized the need to organize the chaotic, hyperlocal realm of merchant-customer transactions.
Then they began to lay the foundation of their business. By offering on-demand pickup and delivery services, they hoped to provide a one-stop shop for customers' local delivery needs. This was done to help provide customers with transportation to local amenities such as grocery stores, medical supply stores, and restaurants. Both initially allowed deliveries of purchases from local stores and supermarkets.
Grofers' new name will be Blinkit once the rebranding test is complete on December 13, 2021. The new name Grofers reflects the company's goal of delivering products on the fly, i.e. in the blink of an eye.
The brand's motto is “Lets Blink it” or #letsblinkit.
Grofers, a combination of two terms: Grocery and Gophers, which specifically referred to a person who performed tasks, was Blinkit's oldnickname. Grofers’ slogan is “We Understand” and was launched through an online advertising campaign.
Blinkit, formerly known as Grofers, has changed its goal statement to "instant commerce indistinguishable from magic." Blinkit is solely dedicated to providing 10-minute supermarket deliveries to its consumers. Blinkit currently sees itself prospering in the fast commerce arena.
Grofers use a marketplace business model and are also known as the hyperLocal on-demand logistics service. It aims to reduce the necessity for consumers to visit local establishments to purchase consumer goods in favor of shopping online. This startup has no grocery stores or warehouses.
It just partners with local grocery stores in the city and then assigns delivery guys to pick up the things purchased by customers from these retailers. They take orders via their mobile app or website. This collaboration model helps local grocery store owners gain more orders while also allowing Grofers to profit from these transactions because the company charges a commission.
Here are some key takeaways from the inventory-based Blinkit business model:
Grofers, or Blinkit as it is now known, collaborates with local merchants and brands, logistics partners, payment providers, investors, and acquisitions.
Grofers is involved in a variety of key activities, including:
- It provides grocery delivery.
- Controls the supply chain
- keeps its platform and technology
- Organizes shipping
- oversees logistics
- Creates cutting-edge software and products
- Customers of services
Blinkit makes use of a variety of resources, including:
- Innovative technology
- Intellectual property rights
- Infrastructure for advanced IT and communications
- Streamlined delivery channels
- A local merchant networks.
- Rounds of funding
Grofers considers all individuals resident in India to be its customers, including local merchants.
Channels of Distribution for Advertising
Grofers or Blinkit markets through blogs and social media outlets, as well as word-of-mouth marketing.
As of 2022, Grofers (now Blinkit) is delivering 1.25 lakh orders every day. Blinkit felt it could be a rapid commerce company that delivered all of the things that people needed on a daily basis, and the company purportedly processed 1 million+ orders each week across 12 cities in India as of December 13, 2021.
Grofers is currently one of the leading e-grocery companies in India, with over 7,000+ products available on its website and ready for home delivery in as little as 10 minutes.