Online grocery firm BigBasket on Tuesday announced 100 per cent business acquisition of online milk delivery app DailyNinja. The company did not reveal details of the financial transaction. It said the acquisition will enable BigBasket to consolidate its leadership position in the subscription delivery space in Bengaluru.
DailyNinja currently caters to around 110,000 customers transacting daily and will augment the company's essentials-focused delivery service BB Daily's extensive non-milk range.Business with small traders is a growing part of BigBasket's business.
DailyNinja currently has a large network of milkman partners. "This will enable us to expand our offerings under BB Daily," said Hari Menon, co-founder and chief executive officer (CEO), BigBasket, adding, "Our relationship with key national brands as well as the supply chain built over the years will help us deliver a strong value proposition to them. We also aim to improve delivery productivity and achieve break-even sooner than planned. "
Sagar Yarnalkar, CEO and co-founder, DailyNinja, said the acquisition is a great outcome for all of its team members, shareholders, and founders. "When we started DailyNinja five years ago, BigBasket was the company we were hoping to emulate, and we are excited to be part of the BB (BigBasket) family now," said Yarnalkar.
At present, the company said BB Daily makes about 160,000 deliveries per day, including a wide range of fresh fruit and vegetables, bread, dairy, and eggs. It also provides a vast array of daily essentials like breakfast cereal, tender coconut, personal care, and baby care products.
BB Daily will now have access to DailyNinja's network of 2,000 milkman partners spread across India. The merger will be an opportunity for DailyNinja to double its business within a month by leveraging BigBasket's supply -chain capabilities. DailyNinja's customers will be able to access BB Daily's extensive non-milk range.