Bengaluru: Betting on the 10-minute instant delivery of grocery, e-commerce company Grofers’ Founder and Chief Executive Officer Albinder Dhindsa announced rebranding of the platform as Blinkit on Monday.
Charting the course of the company’s journey, Dhindsa in a blogpost wrote, “Once upon a time, a few months ago, we started on a journey to build the future of commerce with 10 minute delivery of most of the stuff our customers need in their daily lives. Today, we already process over a million orders a week, across 12 cities in India. And this is just a start.”
ALSO READ: Supriya Lifescience IPO Opens On December 16 At Price Band Of Rs 265-274 Per Share
Sharing the development Dhindsa tweeted, “The 1 retweet and 1 like and we’ll change the name of Grofers in the blink of an eye. Eyes.”
Here’s How The Company Aims To Tap The Market
The rebranding comes months after the company rolled out the 10-minute delivery in August this year, and initially launched the service across the top 12 Indian cities.
“We learnt a lot as Grofers, and all our learnings, our team, and our infrastructure is being repurposed to pivot to something with staggering product-market fit – quick commerce. Today, we are surging ahead as a new company, and we have a new mission statement – “instant commerce indistinguishable from magic”. And we will no longer be doing this as Grofers – we will be doing it as Blinkit,” wrote Dhindsa in the blog.
Dhindsa told the publication Moneycontrol that the company was doing 1.25 lakh orders on a daily basis. Grofers had recently acquired the unicorn status or $1 billion in valuation after it raised more than $120 million from food aggregator Zomato and existing investor Tiger Global Management earlier this year.
In a move to push its quick commerce offering across Indian cities, the company has partnered with local store owners and following a ‘dark store strategy’ dedicated towards online e-commerce deliveries.
The competion in the quick e-commerce delivery space has heated up. Blinkit faces stiff competition from foodtech giant Swiggy, which is focussing on 15-minute delivery through its Instamart offering, and quick grocery delivery start-up, Zepto, which also offers 10 minutes delivery. Other companies in the space include BigBasket, Dunzo, and others.
Swiggy announced $700-million investment in the express grocery delivery service Instamart in its quest to double down on non-food delivery categories. According to Moneycontrol report, the company was registering more than one million orders per week and aims to roll out 15-minute deliveries to top cities by January next year.
Be First to Comment