Dalelorenzo's GDI Blog
27Jul/210

[The Turning Point] How Grofers, a unicorn in the making, was started to transform India’s unorganised grocery landscape

Grocery delivery startup Grofers, the next unicorn in the making, was founded by Albinder Dhindsa and Saurabh Kumar in December 2013. It was started to solve the on-demand pick-up and drop-off services for Indian purchasers in cooperation with regional storages, which were struggling to solve this problem.

Interestingly, Albinder Dhindsa is an ex-Zomato administration. In the initial years of starting Grofers, he had shared with YourStory that they never planned to get into the food delivery space.

The journey

After completing his graduation from IIT Delhi, Albinder went to work in the US where he met Saurabh. The duo used to work in the transportation and logistics field and worked on quite a few projects together.

Later, Albinder left his occupation to get an MBA from Columbia University and then assembled Zomato. Meanwhile, Saurabh was trying his hands with entrepreneurship. After graduation, he went on to work in a few corporate setups before opening the startup world with Rasilant in 2011 as the COO.

albinder

Albinder Dhindsa, Co-founder, Grofers

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In 2013, Saurabh started Onenumber. The initial opinion was to provide on-demand pick-up and decline service from neighborhood shops. They started out with pharmacy shops, grocery browses, and diners, but promptly discontinued diners as there was a lot of competition.

Saurabh, who was based out of Gurugram then, spoke to a lot of sellers and realised the agony pitches these supermarkets had with delivery logistics.

“I was surprised to be recognised that regional pharmacies did 50 -6 0 home deliveries in a daylight within three to four km radius! ” says Saurabh. This become the eureka moment. Taking a cue from this, he instantly pivoted and rebranded the company as Grofers.

While Saurabh had started working on Grofers, Albinder initially assembled the project part-time. After seeing the opportunity in the hyper-local space, Albinder decided to join full time in 2014 as a co-founder.

“Saurabh and I had started working on this idea in December 2013 with the goals that I will ultimately join full time. I wasn’t looking at moving out of Zomato, but the opportunity in the hyper-local space was very exciting and I definitely wanted to try and build something in the area. The part Zomato team was very supportive and cured compile transition periods awfully smooth, ” shares Albinder.

Recently, Saurabh Kumar stepped down from his operational capacities at the company and said he will only be a shareholder and a board member. Now, circling back to Zomato, Albinder-run Grofers is going to anytime become a unicorn with Zomato’s investment into the company.

From e-grocer to grocery ecosystem

Grofers had a humble beginning in a browse in Sushant Lok, Gurugram, and the initial doctrine was to articulated a website for local needs. But it didn’t work.

“We have made a lot of mistakes before arriving at a viable business proposition, ” says Albinder. By January 2014, the company started delivering grocery and FMCG goods for businesses in Gurugram with four delivery boys. Within 15 months, the Sequoia-funded venture scaled to 200 on-field delivery boys and 40+ beings in tech, action, and market units.

Over the years, the consumer app has progressed to service entire household needs. Now, the SoftBank backed e-grocer, which is focusing on private label products to drive overall auctions raise, is expecting its gross product importance( GMV) to grow 4X to around Rs 30,000 crore by 2022.

The company entered$ 1 billion in GMV( total value of product sold over a span) in the financial year 2020 and is currently under way to double it every year. The duo concludes if you have a good commodity, useds will simply find you.

Edited by Megha Reddy

Read more: yourstory.com

28Mar/210

How Zomato’s cap table has evolved over the years

As Zomato prepares to go public in the next few months at a its evaluation of anywhere between$ 6 billion and$ 8 billion, ET collaborated with data platform Tracxn to take a closer look at how its valuation has risen and its cover counter has evolved over the years.Zomato is expected to raise as much as $ 750 million to$ 1 billion through its IPO. This would help it build a much-needed war chest to take on chief rival Swiggy, which is also in the process of closing a $800 million fundraise, and e-commerce beings Amazon, which made its food-delivery debut last year.Info Edge, Zomato’s firstly institutional investor, which made a Rs 4.7 -crore investment in the company in August 2010, has a shareholding worth Rs 7,270 crore as per the latest regulatory filings.Another of Zomato's largest stockholders is Ant Financial, which has been unable to participate in the company's pre-IPO round after the authorities concerned stopped clearing Chinese speculations. It hampers a 20% stake in the company, importance Rs 7,729 crore. 8168040 2However, informants have confirmed to ET that ongoing secondary share obtains will bring down Info Edge's shareholding in the company to 17% and Ant Financial's to around 15% in the run up to its IPO.ET had earlier reported that unlike in traditional IPOs, in situations of Zomato , no investor is likely to exit or make money off the table by selling their shares. “People considered that Zomato will be a $50 -billion corporation in five years and that it would be unwise to sell shares right now, ” Deepinder Goyal, founder and CEO of Zomato, had said in a town hall earlier this year.

Read more: economictimes.indiatimes.com