Page 2 - Grofers

Zomato seeks CCI nod for 9.3% stake in e-grocery major Grofers

Food delivery app Zomato, which is working to explore public markets later this year, has reached an agreement to invest $100 million in online grocer Grofers for about a 10 per cent stake.

Zomato's $100 million investment to turn Grofers into unicorn: Report

Food delivery app Zomato, which is working to explore public markets later this year, has reached an agreement to invest $100 million in online grocer Grofers for about a 10 per cent stake

Grofers to raise tech team pay by 33%, promises hefty ESOP allocation

Grofers on Monday said it will offer a 33 per cent hike in salary to its tech team effective July, along with a "hefty ESOP allocation" as the online grocery delivery platform looks to retain staff and woo more tech talent. The SoftBank-backed company, which plans to launch an initial public offering (IPO), also hinted that it has secured a new funding round. "After coming out of the second wave, and at a point where our next funding round is secure, I think it is time to kickstart a lot of initiatives that I have been waiting for the right time to begin. "We have done well so far, but we need to do better. And in hindsight, one of the most important things we could have done in the past in order to do way better is focus and invest more in tech than we have so far," Grofers CEO Albinder Dhindsa said in a blogpost. He added that tech will always be the "number one priority going forward". As per reports, Grofers is in talks for a USD 100-120 million fund raise. Admitting that Gro

Grofers co-founder Saurabh Kumar exits co, will continue as board member

The development comes at a time when the SoftBank-backed company is looking at launching an initial public offering (IPO).

Saurabh Kumar steps down as Grofers co-founder, stays on company board

Cites personal ambitions for decision, says he wants to wander again

Practo, BharatPe and Grofers in line to be the next Indian unicorns

Currently, there are 48 Indian start-ups valued at $1 billion or more, and Paytm is the most valuable start-up at $16 billion, according to the Venture Intelligence data

Grofers to cover Covid-19 vaccination cost for employees, contractual staff

Online grocery platform Grofers on Tuesday said it will cover the cost of COVID-19 vaccination for its employees, their family members as well as the company's contractual staff. The company aims to cover vaccination cost for 25,000 people across 38 cities, it added. Grofers will cover the vaccination cost for its employees, their family members (including, parents, spouse, and two children) and the company's contractual workforce, a statement said. Also, the company will reimburse the vaccination cost for those who will administer the vaccine through their personal arrangements. With the government recently appealing to people above 45 years to take the vaccine, the company will begin covering costs for its employees and their family members of this age group. Post the government guidelines allowing the vaccination for remaining age groups, Grofers will ensure coverage of costs for the remaining workforce and their family members, the statement said. Extra sick leave will also b

SPACs look to India for next wave of acquisition targets, says Nomura

Nomura also expects more initial public offerings in India this year, with sentiment buoyed by the post-debut performance of recently listed companies

SoftBank-backed Grofers plans to go public in US through SPAC deal

Seeking a deal that would value the online grocer at $1 bn

Kirana comes full circle

Two recent steps, both by the original posterboy of e-commerce, Flipkart, make it clear that we've come full circle on grocery

SoftBank-backed Grofers' revenue doubles to Rs 177 cr, loss widens by 42%

The company's total expenses for the fiscal were reported as Rs 814 crore

SoftBank-backed Grofers eyes Rs 10,000 cr GMV by March on heavy GOBD sales

The Gurugram-based firm is expecting its GMV to touch around Rs 30,000 crore by 2022 as the coronavirus pandemic has accelerated the shift towards online grocery

Softbank-backed Grofers expects to achieve Rs 10,000 crore in GMV by March

Grofers expects to be supported by a traction of around 5 million customers during its ongoing sale, a top company official said

Online grocery to grow 8 times in 5 years in India, JioMart big gainer

As the e-commerce battle intensifies in India, with Reliance Retail's JioMart being the latest major entrant with a potential to disrupt the space, the next big thing is delivery of groceries online

A path towards profitability: Online retail buys into private labels

Growing demand for value-for-money products and higher margins make this a profitable growth option

IPO street: From Zomato to InMobi, 2021 could be the year of start-ups

The country has realised the potential of start-ups that have disrupted traditional businesses (or ways of doing business) and have garnered large market share, across segments

Grofers eyes fashion segment for higher margins, to stick to private labels

Grofers, which has a strong play in the private labels segment across categories, is likely to follow this strategy in the fashion segment

Grofers eyeing 4-fold rise in gross merchandise value at Rs 30K-cr by 2022

The company is adding one-two new cities every month to sell groceries and expecting to to expand its services to over 50 cities by June 2021 from 27 at present.

Grofers announces 9-day sales scheme, Rs 50 cr support to local partners

The company aims to sell 9 crore items produced by its partners including 5.5 crore items that are produced locally, Grofers said in a statement

We were fortunate to be one of the beneficiaries of lockdown: Grofers

The online grocery platform, which has advanced its plan to launch an initial public offer by the end of 2021, said it continues to focus on enhancing customer experience