Bangalore: Online grocer BigBasket has attained logistics startup Delyver in a cash-and-stock contract in order to augment its competence to convey in stipulated time to patrons over more than 50 cities located at different geographies by contending with its dexterous adversaries.
However, the management of both the startups has refused to divulge the business deal between the two, which are both shored up by sequential industrialist and shareholder Krishnan Ganesh.
Remarking on the acquisition of Delyver, BigBasket’s CEO Hari Menon quoted, “We will retain the brand name and use their two-wheeler fleet to do hyperlocal deliveries across all cities”. He also added that the 300-member team of Delyver would be retained by the company which came as a great relief for all the employees.
Delyver will be used by the comprehensive online grocery store in Bangalore, Big Basket, to deliver the orders of the customers within the duration of 90 minutes from the time of placement. The Delyver flotilla will stand a sturdy antagonism against the delivery vendors such as Grofers, PepperTap and Local Baniya.
According to Menon, the brand name ‘Big Basket’ will preserve the same name which has not only achieved huge customer recognition but also a massive capital of more than Rs.300 crore since the last eight months.