Biography of Abhinay Choudhari: Co-Founder & CEO of BigBasket-Entrepreneur
Biography of Abhinay Choudhari:
Abhinay Choudhari, along with Hari Menon and Vipul Parekh,
co-founded BigBasket in 2009 in Bangalore. This venture quickly scaled to
become India's largest online grocer, providing customers with a seamless
online shopping experience. With a strong focus on customer satisfaction,
BigBasket offered same-day delivery, fresh-cut fruits and vegetables, and
specialized products tailored to regional preferences, earning a high level of
customer loyalty and trust.
Building a Diverse Professional Background
Abhinay's diverse professional background includes a stint
as an Assistant Manager at Mitsubishi Corporation in Chennai from April 1997 to
December 1999. This role, along with his subsequent experiences, has equipped
him with a broad understanding of both the corporate and entrepreneurial
worlds. His educational background from the Indian Institute of Management
Ahmedabad further complements his professional journey, providing a solid
foundation in business and management.
Lessons from the Dot Com Bubble
The founders of BigBasket, including Abhinay Choudhari, were
significantly influenced by the dot com bubble burst. Learning from the
challenges faced during that time, they aimed to create a resilient online
platform. Initially, the team launched Fabmart.com in 1999, India’s first
e-commerce store. However, the market wasn’t ready for such an innovation,
leading Fabmart to merge with a brick-and-mortar chain.
Early Career and First Venture
Abhinay's entrepreneurial spirit was evident early in his
career. He founded Stylecountry.com in December 1999, an e-commerce venture
based in Bangalore. Though it lasted only nine months, this experience was
pivotal in shaping his understanding of the online retail space. Prior to this,
he worked as an e-Consultant at Net-kraft in Singapore from September 2000 to
January 2002, further building his expertise in the digital and e-commerce
sectors.
From Infosys to Entrepreneurship
Before co-founding BigBasket, Abhinay was a Principal at
Infosys Consulting Inc., where he worked from December 2007 to June 2009,
focusing on the retail, consumer packaged goods (CPG), and logistics sectors.
His experience at Infosys, along with his role as Principal Consultant at iGate
Global Solutions from 2003 to 2007, provided him with deep insights into the
retail and logistics industries. These roles, based in London and the USA, honed
his skills in managing complex projects and understanding market dynamics.
Abhinay Choudhari: Innovating Online Grocery Shopping
As a retail consultant at Infosys, Abhinay Choudhari brought
a fresh outlook to the online grocery sector. This blend of skills and
perspectives created a perfect storm for innovation. BigBasket emerged as the
largest online grocer in India, redefining the way people approached grocery
shopping. The platform’s convenience, wide range of products, and seamless
delivery system resonated with consumers seeking an alternative to traditional
brick-and-mortar grocery stores. Abhinay’s vision and the collaborative spirit
of the co-founders propelled BigBasket to prominence.
Biography of Abhinay Choudhari: Co-Founder & CEO of BigBasket-Entrepreneur /Founder of LaundryMate,Stylecountry.com/ e-commerce/Success story of Abhin
Founding BigBasket
In 2009, Abhinay Choudhari, along with Hari Menon and Vipul
Parekh, co-founded Bangalore-based BigBasket. The trio successfully scaled
BigBasket to become India’s largest online grocer. While Hari and Vipul were
early pioneers in Indian e-commerce, having founded Fabmall in 1999, Abhinay
brought his expertise as a retail consultant at Infosys to the venture.
BigBasket Data and Industry Impact
BigBasket has raised $95 million in funding from key
investors like Bessemer Venture Partners, Helion Venture Partners, and Zodius
Capital, with its latest funding stage being Series C. Operating in the
groceries and e-commerce industry, BigBasket has become a significant player in
the market.
Transition to BigBasket
By 2006, the founders sold Fabmart. The pivotal moment for
them came in 2011 when they sought a new venture. This led to the creation of
bigbasket.com, leveraging their previous experiences and aiming to
revolutionize the online grocery shopping experience in India.
Founding and Growth of BigBasket
BigBasket, one of India's largest online grocers, was
founded in Bangalore in 2009 by Abhinay Choudhari, Hari Menon, and Vipul
Parekh. The founders leveraged their diverse backgrounds—Hari and Vipul were
early pioneers of e-commerce in India with their venture Fabmall, while Abhinay
was a retail consultant at Infosys. The trio's combined expertise helped them
navigate the complexities of the Indian market and scale BigBasket into a major
player in the online grocery industry.
Investment and Expansion
The company received a significant boost with a first-round
investment of nearly $10 million from Ascent Capital. This funding was pivotal
in expanding BigBasket's reach and enhancing its market presence. By securing
substantial capital, the founders could invest in infrastructure, technology,
and logistics, which were crucial for maintaining service quality and expanding
their delivery network across multiple cities in India.
Customer-Centric Approach
BigBasket's success can be attributed to its
customer-centric approach. The company offers same-day delivery with a
remarkable 99.3% on-time delivery rate and a 99.5% order fill rate. Their
no-questions-asked return policy further reinforces customer trust.
Additionally, BigBasket introduced innovative options like fresh-cut fruits and
vegetables, recipe mixtures, and a bakery service in Bangalore that delivers
fresh bread on order. These features, along with their user-friendly iOS and
Android apps, provide customers with a convenient and reliable shopping experience.
Personalized Service and Local Adaptation
Understanding and catering to local eating habits was a
strategic move by BigBasket. After extensive research, the team realized that
personalized service was key to winning over customers in a diverse country
like India. For instance, they increased the availability of leafy greens in
Mumbai and a special type of rice in Bangalore, aligning their inventory with
regional preferences. This localized approach not only enhanced customer
satisfaction but also fostered loyalty among their user base.
Technology and Innovation
BigBasket has consistently leveraged technology to enhance
its service offerings. The "Smart Basket" feature, a prediction engine
that anticipates customer needs based on their purchase history, is one example
of their technological innovation. By investing in advanced technology and
maintaining high service standards, BigBasket has positioned itself as a leader
in the online grocery market, ensuring a seamless and efficient shopping
experience for its customers.
Transition to LaundryMate
In May 2021, Abhinay transitioned to a new venture,
co-founding LaundryMate in Bangalore, where he serves as the Customer
Experience Officer. LaundryMate focuses on providing high-quality laundry
services with an emphasis on customer satisfaction. His role involves ensuring
a seamless customer experience, leveraging his extensive background in managing
consumer-focused businesses.
Intense Competition and Strategic Planning
While BigBasket has grown into one of the biggest Indian
brands, it still faces intense competition from local startups like LocalBanya,
PepperTap, and Grofers. With the company feeling the heat from its many rivals,
it was time for Abhinay to gather his team and devise new strategies to stay
ahead of the competition.
Expansion and Partnership with Alibaba
BigBasket expanded its presence to 25 cities, amassing a
customer base of 150 million. Considering this growth, Abhinay decided it was
time to bring in a partner. The team aligned with Alibaba, a move that
significantly boosted the company's image over the next two years.
Timeline for Abhinay Choudhari
April 1997 - December 1999: Assistant Manager at Mitsubishi
Corporation, Chennai.
December 1999 - September 2000: Founded Stylecountry.com, an
e-commerce venture in Bangalore.
September 2000 - January 2002: e-Consultant at Net-kraft,
Singapore.
2003 - 2007: Principal Consultant at iGate Global Solutions,
based in London and the USA.
December 2007 - June 2009: Principal at Infosys Consulting
Inc.
2009: Co-founded BigBasket in Bangalore with Hari Menon and
Vipul Parekh.
2015: BigBasket raised $95 million in Series C funding.
May 2021: Co-founded LaundryMate in Bangalore, serving as
Customer Experience Officer.
