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As companies from <keyword id="10926" type="COMPANY" weightage="20" keywordseo="Reliance">Reliance</keyword> to Amazon put their top dollar in serving <keyword id="9999588" type="UNKNOWN" weightage="20" keywordseo="daily-grocery">daily grocery</keyword> at your doorstep, a new report said on Friday that online grocery is going to be the next battleground for growth, expanding to over $18 billion by 2024. According to a joint report by a joint initiative by Bengaluru-based <keyword id="9999587" type="UNKNOWN" weightage="20" keywordseo="market-consulting-firm-redseer">market consulting firm RedSeer</keyword> and <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">Bigbasket</keyword> (Brand Intelligence), driven by the significant rise in organic adoption during Covid-19, <keyword id="8289993" type="COMPANY" weightage="20" keywordseo="egrocery">eGrocery</keyword> has been on a surge with clocking 1.7 times in gross merchandise value (GMV) in June this year as compared to January. Online grocery will remain steady for the rest of the year to reach more than $3 billion, the report mentioned. "The industry has seen more than 70 per cent ARR (annual recurring revenue) jumps in the last quarter across categories. This brings the opportunity to serve a larger set of customers, and some challenges with it," said Hari Menon, co-founder and CEO of BigBasket. The report found that demand for comfort foods like noodles and cookies, immunity boosters like lemon and hygiene products like sanitizers picked up after the pandemic while essentials remained strong. Snacks and branded foods grew by 5 per cent quarterly pre-Covid, however growth jumped to 75 per cent in the June quarter. Within snacks and branded foods, biscuits and cookies was the largest sub-category and grew the most in Q2. Beverages grew by 2 per cent quarterly pre-Covid, however growth jumped to 50 per cent in Q2. "Personal Care grew by 5 per cert quarterly pre-Covid but jumped to 24 per cent in Q2 due to Covid. "We have observed that traditional brands which pivoted quickly to be digitally ready brands have seen 2x+ jump in sales compared to offline brands. We are excited to have this opportunity to serve the ecosystem," said Anil Kumar, founder and CEO of consulting firm RedSeer. Home utilities grew by 6 per cent quarterly pre-Covid but jumped to 11 per cent in Q2. Within home utilities, detergents and dishwash were the largest sub-category but grew the least in the last quarter. According to the report, home utilities were not severely affected by the pandemic. SEE ALSO: <a href="https://www.businessinsider.in/science/news/the-best-wildlife-photos-taken-this-year-reveal-a-pair-of-puffins-fighting-foxes-and-a-perfectly-camouflaged-hippo/slidelist/78297252.cms" data-type="tilCustomLink">The best wildlife photos taken this year reveal a pair of puffins, fighting foxes, and a perfectly camouflaged hippo</a> <a href="https://www.businessinsider.in/tech/news/the-senate-plans-to-subpoena-the-ceos-of-facebook-google-and-twitter-to-testify-before-congress-next-month/articleshow/78302874.cms">The Senate plans to subpoena the CEOs of Facebook, Google, and Twitter to testify before Congress next month</a>

RIL and Amazon are looking at India's $18 billion online grocery market to be their next battleground

Tata’s tryst with e-grocery starts with a billion dollar acquisition of BigBasket – here’s why it could be a sweet deal for both

New Delhi, After hacking masked credit and debit card data of crores of Juspay users, the same hacker possibly known as '<keyword id="9206309" type="COMPANY" weightage="20" keywordseo="shinyhunters">ShinyHunters</keyword>' is now selling databases belonging to three more Indian companies on <keyword id="1929208" type="COMPANY" weightage="20" keywordseo="dark-web">Dark Web</keyword>, independent cyber security researcher Rajshekhar Rajaharia claimed on Wednesday. According to Rajaharia who first broke the JusPay hacking, the three Indian companies are e-marketplace <keyword id="2901238" type="COMPANY" weightage="20" keywordseo="Clickindia">ClickIndia</keyword>, <keyword id="2461546" type="DOMAIN" weightage="20" keywordseo="FinTech">fintech</keyword> startup for small business owners ChqBook and wedding planning website WedMeGood. "Nearly 80 lakh users of ClickIndia (name, email, mobile and other personal details), 10 lakh users of ChqBook (name, email, mobile, full address and other personal details) and 13 lakh users of WedMeGood (name, email, hashed password, other sensitive personal information)," Rajaharia told. Like JusPay, these three companies have also not allegedly told the users about the data breach, claimed the security researcher. The names of the three Indian companies were first reported by BleepingComputer website, saying that a "data breach broker is selling the allegedly stolen user records for 26 companies on a hacker forum". ChqBook denied the attack while the other two companies were yet to react to the report. According to <keyword id="10553252" type="UNKNOWN" weightage="20" keywordseo="sonit-jain">Sonit Jain</keyword>, CEO of <keyword id="9727813" type="COMPANY" weightage="20" keywordseo="gajshield-infotech">GajShield Infotech</keyword>, such incidents, once confirmed irrespective of data sensitivity, leaves a negative impression over the digital payment platforms. "Simple data like email ID and phone number which may not look sensitive can turn out to be lethal means of financial fraud at personal level, if fallen in wrong hands," Jain told. Bengaluru-based digital payments gateway JusPay said in an earlier statement that the company verified that their Secure Data Store, which hosts the confidential card numbers, was not accessed or compromised. "Thus, all our customers were secure from any kind of risk. Our priority was to inform the merchants and as a measure of abundant precaution, they were issued fresh API keys though it was later verified that even the API keys in use were safe," the company said. According to Rajaharia, the hacker is the same who leaked <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> data, previously reported by the cybersecurity firm Cyble. In November last year, one of India's popular online grocery stores BigBasket, found that its data of over 20 million users had been hacked and were on sale on the dark web for over $40,000. "Now, the same hacker group is asking about $10,000 in Bitcoin for the BigBasket database and is also selling the three companies' databases," Rajaharia said. "There is a strong connection between all these recent data leaks, including BigBasket," he added. US-based third-party cyber intelligence firm Cyble claimed in its official blog that though the alleged breach occurred on October 14, it detected it on October 30, validated it on October 31 and informed BigBasket on November 1. The user database was estimated to be about 20 million, with names, email ids, password hashes, pin, contact numbers, addresses, date of birth, location and IP addresses of login. JusPay on Tuesday said that about 3.5 crore records with masked card data and card fingerprint were compromised by the hacker and the claim of 10 crore cardholders' data being affected is "incorrect". SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/boat-raises-over-100-million-from-warburg-pincus-analysts-expect-the-headphone-brand-to-double-its-revenue-to-10-billion-this-financial-year/articleshow/80126200.cms">boAt raises over $100 million from Warburg Pincus — analysts expect the headphone brand to double its revenue to ₹10 billion this financial year</a> <a href="https://www.businessinsider.in/tech/news/oneplus-fitness-band-india-launch-date-price-and-everything-you-need-to-know/articleshow/80129498.cms">OnePlus Band India launch date, price and everything you need to know</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-will-stop-working-if-you-do-not-agree-to-its-new-terms-and-privacy-policies/articleshow/80127866.cms">WhatsApp will stop working if you do not agree to its new terms and privacy policies</a> <a href="https://www.businessinsider.in/business/auto/news/toyota-fortuner-suv-2021-launched-in-india-with-new-price-design-and-features-check-details-here/articleshow/80129932.cms">Toyota Fortuner 2021 launched at a starting price of ₹29.98 lakh — here’s all you need to know from looks to specification and features</a>

After Juspay, ClickIndia, ChqBook and WedMeGood have been reportedly hacked — data of over 10 million users up for sale on the dark web

<ul><li>The influencers include dignitaries such as <keyword id="6354361" type="PERSON" weightage="20" keywordseo="Kiran-Bedi">Kiran Bedi</keyword> and Ravi Shankar Prasad and many prominent women leaders. </li><li>The list comprises influencers from diverse industries such as financial services, startups, HR, social impact, and IT Services. </li><li>Indian contributors are three times more likely to respond to comments on posts and received over ten times more engagement in the past year.</li></ul>Social media platform <keyword id="28120" type="COMPANY" weightage="20" keywordseo="Linkedin">LinkedIn</keyword> has put out its third annual list of 25 most-influential voices for India that has featured Indian dignitaries like Kiran Bedi, Ravi Shankar Prasad and several other prominent women leaders like Debjani Ghosh, Pooja Kapur, Ester Martinez, and Sairee Chahal. The list features contributors who have shaped industry opinion, analysed key trends, and used the platform in innovative ways inspiring other professionals to join conversations and share opinions. The influencers hail from diverse industries such as financial services, startups, HR, social impact, and IT Services who are industry leaders writing about a range of topics from HR policies and work culture to data privacy, women issues, entrepreneurship, and technology. Influencers who made to the list for the first time include <a href="https://www.linkedin.com/in/kiran-bedi-15154b57/">Kiran Bedi</a>, Lt. Governor of Puducherry and <a href="https://www.linkedin.com/in/ravishankarprasad/">Ravi Shankar Prasad</a>, Minister for Law &amp; Justice &amp; Electronics &amp; IT of India, who have regularly shared updates on the progress they are making regarding government campaigns such as <a href="https://www.linkedin.com/feed/update/urn:li:activity:6465414101538566144">Digital India</a> campaign and have been vocal about the growing security concerns with the <a href="https://www.businessinsider.in/whatsapp-building-india-team-to-curb-fake-news-but-government-is-not-satisfied/articleshow/65292048.cms">spread of fake news</a> via social platforms. The contributors have shared opinions on trending topics such as <a href="https://www.linkedin.com/pulse/orbits-ankur-warikoo/">entrepreneurship</a>, <a href="https://www.linkedin.com/pulse/womens-way-leading-sairee-chahal/">women in leadership roles</a>,<a href="https://www.linkedin.com/feed/update/urn:li:activity:6440158559043973120">developments in technology</a>, and the <a href="https://www.linkedin.com/feed/update/urn:li:activity:6405420129366179840">startup ecosystem</a> that have kickstarted engaging industry discussions. The posts that performed exceptionally well and earned the highest social signals and public engagement include <a href="https://www.linkedin.com/in/sidpai/">Siddharth Pai’s</a> article on ‘<a href="https://www.linkedin.com/pulse/limbic-thought-artificial-intelligence-siddharth-sid-pai/">Limbic thought and artificial intelligence</a>’ and <a href="https://www.linkedin.com/in/vartika-kashyap-30653245/">Vartika Kashyap's</a> article on ‘<a href="https://www.linkedin.com/pulse/morning-habits-keep-my-productivity-levels-sky-high-vartika-kashyap/">Morning Habits That Keep My Productivity Levels Sky High</a>’. Also, <a href="https://www.linkedin.com/in/warikoo/?originalSubdomain=in">Ankur Warikoo’s</a> video series <a href="https://www.linkedin.com/search/results/content/?keywords=%23WarikooWednesdays&amp;origin=GLOBAL_SEARCH_HEADER">#WarikooWednesdays</a> has drawn more than 44,000 video views and more than 1,000 social signals. Here’s the full list: <ul><li><a href="https://www.linkedin.com/in/swatyaggrawal/">Swati Agarwal</a>, General Manager, Social Venture Partners</li><li><a href="https://www.linkedin.com/in/tamal-bandyopadhyay-818b2b9/">Tamal Bandyopadhyay</a>, Consulting Editor, Business Standard</li><li><a href="https://www.linkedin.com/in/kiran-bedi-15154b57/">Kiran Bedi</a>, Lt Governor, Puducherry, Government of Puducherry</li><li><a href="https://www.linkedin.com/in/sairee/">Sairee Chahal</a>, Founder, CEO Sheroes</li><li><a href="https://www.linkedin.com/in/schandra100/">Subhash Chandra</a>, Founder, CrowdWisdom360</li><li><a href="https://www.linkedin.com/in/annesha-dutta/">Annesha Dutta</a>, Consultant &amp; Corporate Trainer- Communications &amp; Branding</li><li><a href="https://www.linkedin.com/in/debjani-ghosh-48298b1/">Debjani Ghosh</a>, President, <keyword id="6372077" type="COMPANY" weightage="20" keywordseo="nasscom">NASSCOM</keyword></li><li><a href="https://www.linkedin.com/in/jraja/">Raja Jamalamadaka</a>, Leadership coach, Advisor to startups</li><li><a href="https://www.linkedin.com/in/poojakap/">Pooja Kapur</a>, Ambassador of India to Bulgaria and Macedonia</li><li><a href="https://in.linkedin.com/in/vartika-kashyap-30653245">Vartika Kashyap</a>, Marketing Manager, ProofHub</li><li><a href="https://www.linkedin.com/in/estermartinez/">Ester Martinez</a>, CEO &amp; Editor-in-Chief at People Matters</li><li><a href="https://www.linkedin.com/in/hansimehrotra/">Hansi Mehrotra</a>, Founder, The Money Hans</li><li><a href="https://www.linkedin.com/in/menonpurnima/">Purnima Menon</a>, CMO, Microland Limited</li><li><a href="https://www.linkedin.com/in/procyon/">Procyon Mukherjee</a>, Chief Procurement Officer, LafargeHolcim</li><li><a href="https://www.linkedin.com/in/sidpai/">Siddharth Pai</a>, Founder and General Partner, Siana Capital</li><li><a href="https://www.linkedin.com/in/jayashreepatnaik/">Jayashree Patnaik</a>, Chief Strategy Officer, CFA Technologies</li><li><a href="https://www.linkedin.com/in/ravishankarprasad/">Ravi Shankar Prasad</a>, Minister for Law &amp; Justice &amp; Electronics &amp; IT of India</li><li><a href="https://www.linkedin.com/in/pooja-sareen-23874151/">Pooja Sareen</a>, Editor in Chief &amp; Co-founder at Inc 42</li><li><a href="https://www.linkedin.com/in/limasehgal/">Lima Sehgal</a>, Senior HR Advisor &amp; job market specialist</li><li><a href="https://www.linkedin.com/in/kunalshah1/">Kunal Shah</a>, Advisor to the Board, Bennett Coleman and Co. Ltd.</li><li><a href="https://www.linkedin.com/in/riteshbusinesseconomist/">Ritesh Kumar Singh</a>, Founder and Chief Economist, Indonomics Consulting</li><li><a href="https://www.linkedin.com/in/tapansinghel/">Tapan Singhel</a>, Managing Director and CEO, <keyword id="113665" type="COMPANY" weightage="20" keywordseo="Bajaj-Allianz-General-Insurance">Bajaj Allianz General Insurance</keyword> Co. Ltd. </li><li><a href="https://www.linkedin.com/in/thesomani/">Amit Somani</a>, Managing Partner, Prime Venture Partners</li><li><a href="https://www.linkedin.com/in/harimrinal23577532/?originalSubdomain=in">Hari T. N</a>, Head HR, <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword></li><li><a href="https://www.linkedin.com/in/warikoo/">Ankur Warikoo</a>, Cofounder &amp; CEO, <a href="http://nearbuy.com/">nearbuy.com</a></li></ul>

Here are the 25 most influential people on LinkedIn in India

New Delhi, As the e-commerce battle intensifies in India, with <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword>'s JioMart being the latest major entrant with a massive potential to disrupt the space, the next big thing is the <keyword id="6355447" type="PERSON" weightage="20" keywordseo="delivery">delivery</keyword> of <keyword id="389479" type="PERSON" weightage="20" keywordseo="groceries">groceries</keyword> online and the market size is estimated to grow eight times in the next five years in the country. As companies from Reliance to BigBasket put their top dollar in serving daily grocery at your doorsteps, <keyword id="1640900" type="PERSON" weightage="20" keywordseo="Online-grocery">online grocery</keyword> is going to be the next battleground for growth, expanding to over $18 billion by 2024. The eGrocery market has grown 60% from the calendar year 2020 and is expected to grow 41-49 per cent by the first half of CY21, according to the latest data provided by homegrown consulting firm RedSeer. Another recent report by Bengaluru-based RedSeer and Bigbasket (Brand Intelligence) found that demand for comfort foods like noodles and cookies, immunity boosters such as lemon, and hygiene products like sanitisers picked up after the pandemic while essentials remained strong. Within snacks and branded foods, biscuits and cookies were the largest sub-category and grew the most. "We have observed that traditional brands which pivoted quickly to be digitally ready brands have seen 2x+ jump in sales compared to offline brands," said Anil Kumar, founder and CEO of RedSeer. Now, JioMart is set to take the pole position in online delivery of groceries. "Grocery is the largest retail category. This makes it an important category for retailers and one that is going to drive future growth of online retail sales. JioMart will definitely be a key player in the months to come," said Satish Meena, Senior Forecast Analyst with global market research firm Forrester. Driven by the uptick in online grocery adoption due to the Covid-19 pandemic, "online retail sales will grow at a CAGR of 30 per cent from 2019 to 2024 and reach $359 billion", Meena informed. India is witnessing a surge in demand for online grocery. The latest Reliance takeover of <keyword id="44949" type="COMPANY" weightage="20" keywordseo="Future-group">Future Group</keyword>'s retail business is a major consolidation of organised grocery retail. In terms of grocery retail, the revenue of Reliance Retail in FY20 was Rs 346 billion and that of Future Retail's annualised revenue for FY20 was Rs 100 billion. According to Meena, grocery will also be the category where most marketplaces' investments will be made in the next five years. Reliance Jio's new commerce platform JioMart and Whatsapp will be working closely to create growth opportunities for millions of Indian small merchants and kirana shops, <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> (RIL) Chairman Mukesh Ambani said recently. In India, there are more than 15 million monthly WhatsApp Business app users, and more than 400 million overall users. Reliance aims to integrate JioMart in WhatsApp within the next six months. The Covid-19 induced lockdowns and social distancing led to a surge in online orders for groceries, driven by utility as 80% of those who ordered online during lockdown did it for convenience as opposed to price and selection. According to a survey by LocalCircles, 52% online grocery shoppers found the e-commerce grocery apps useful during lockdown. As many as 32% online grocery shoppers placed one or more orders every week during the lockdown while 38% found fruits and vegetables delivered via e-commerce grocery apps to be of poor quality. A recent Bernstein report said that Reliance is "best positioned in new commerce, digitising neighbourhood stores, and e-commerce apps (JioMart and AJIO)". SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-shares-are-down-32-from-the-peak-post-listing-analysts-say-it-is-still-overpriced/articleshow/80430865.cms">Mrs Bectors shares are down 32% from the peak post listing — analysts say it is still 'overpriced'</a> <a href="https://www.businessinsider.in/policy/economy/news/recession-in-india-will-end-latest-by-march-says-a-top-economist/articleshow/80399198.cms">Recession in India will end latest by March, says a top economist</a> <a href="https://www.businessinsider.in/tech/news/amazfit-smartwatch-gts-2-review-feature-rich-but-theres-still-room-for-improvement/articleshow/80398998.cms">Amazfit GTS 2 review – feature-rich, but there’s still room for improvement</a>

Online Grocery market estimated to grow eight times in 5 years in India, JioMart big gainer

<ul><li>Edtech startup <keyword id="6361651" type="UNKNOWN" weightage="20" keywordseo="Toppr">Toppr</keyword> has raised ₹350 crore ($46.7 million) in a series D round of funding.</li><li>The round was led by Dubai-based Foundation Holdings and also saw participation from existing investor Kaizen Private Equity. </li><li>Toppr’s funding is the latest in the edtech world, which has seen increased investor interest as <keyword id="6379645" type="UNKNOWN" weightage="20" keywordseo="Online-Education">online education</keyword> has seen a massive boost.</li></ul>With schools and colleges being shut due to the coronavirus pandemic, online <keyword id="6355445" type="UNKNOWN" weightage="20" keywordseo="education">education</keyword> has taken over and how. <keyword id="2989202" type="PERSON" weightage="20" keywordseo="edtech-startups">Edtech startups</keyword> in India are reaping the benefits of this transition and this hasn’t been missed by investors. The latest to join the long list of funded edtech startups is Toppr, which has raised ₹350 crore ($46.7 million) in a series D round of funding. The round was led by Dubai-based Foundation Holdings and also saw participation from existing investor Kaizen Private Equity. Others in the sector – Byju’s, Unacademy, Vedantu have all raised funding in the last few months to support the sudden influx of millions of new users. Toppr’s Artificial Intelligence-led learning platform has over 1.3 crore registered students and with the latest funding, the startup aims to build the AI-based Toppr School Operating System (OS) – a platform for schools to run digitally. “With this investment, we now have the capability and reach to truly revolutionize the K-12 education experience and ensure that no learner is left behind. We are also excited about the launch of the School OS and believe this will be a ground-breaking initiative empowering teachers and schools across the industry,” said Zishaan Hayath, Founder and CEO, Toppr in a statement. Earlier in July, the platform had also launched Toppr Codr – one-on-one live coding classes for children aged between 6 and 18 years. The idea behind Toppr Codr was to teach young students how to create their own apps, websites, games, and other interactive platforms using creative and playful experiences from their daily lives. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-offers-90-minute-delivery-as-competition-from-jiomart-dunzo-bigbasket-heats-up/articleshow/77216762.cms">Flipkart offers 90-minute delivery as competition from JioMart, Dunzo, BigBasket heats up</a> <a href="https://www.businessinsider.in/business/ecommerce/news/reliance-is-building-up-its-retail-empire-ahead-of-future-deal-reliance-brands-adds-zivame-in-its-cart/articleshow/77215871.cms">Reliance is building up it’s retail empire – ahead of Future deal, Reliance Brands adds Zivame in its cart</a>

Edtech funding continues – Toppr secures ₹350 crore for its new OS to help schools go digital

New Delhi, Dec 3 () SoftBank-backed Grofers reported widening of its loss to Rs 448 crore in 2018-19 financial year, while its income rose by over 56 per cent from the previous fiscal, according to regulatory documents filed by the company.
 The company had posted a net loss of Rs 258.3 crore for the year ended March 2018, as per documents filed with the Corporate Affairs Ministry and sourced by business intelligence platform Tofler.
 Grofers, which competes with the likes of BigBasket as well as grocery verticals of e-commerce majors such as Flipkart and Amazon, saw its total income grow by over 56 per cent to Rs 83.62 crore in 2018-19 from Rs 53.47 crore in the previous financial year.
 When contacted, Grofers CEO and co-founder Albinder Dhindsa said, "Grofers GMV (gross merchandise value) grew by 300 per cent to reach Rs 2,500 crore in FY 2018-19 and we are on track to double it to Rs 5,000 crore in FY 2019-20". 
 "We are now the largest grocery e-commerce company in India and are preparing to bring the next 100m customers online by penetrating into hitherto untapped socio-economic segments," he added.
Grofers' numbers indicate the revenue it earned through retail margin/commission from brands and sellers. 
 In May, the company had announced a fund raise of over USD 200 million from new investor KTB, and existing investors Tiger Global Management and Sequoia Capital.
 In September, Grofers had said it aims to cross the USD 1 billion revenue mark by the end of the year, helped by strong growth in both its online and offline businesses.
 The company, which started operations as an online grocery platform, earlier this year said it is working with brick-and-mortar stores in Delhi-NCR to convert them into its own branded outlets. 
 The company has been pursuing profitability by consolidating its presence in the cities of operations and is also gearing up to hit the capital market with an initial public offering (IPO) in the next few years. SR RVK

Grofers loss widens to Rs 448 cr in FY19, co says on track to double GMV to Rs 5k cr in FY20

<ul><li>Established <keyword id="982553" type="PERSON" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> are looking at ways to expand their boundaries and are thus encroaching each other’s territories. </li><li>Investors too have been backing up these expansion plans. </li><li>So, it brings up the near possibility of a consolidated market in India.</li></ul>India has grown to be the world’s third largest startup ecosystem, with over 20 unicorns some of which have already established a global foothold. But as India’s number of startups keeps growing, there’s also another unique problem that exists - established startups are looking at ways to expand their boundaries and are thus encroaching each other’s territories. Most recently, <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> made news for venturing into grocery delivery, a segment that has been dominated by startups like BigBasket and Grofers or even the delivery services startup Dunzo. Oyo is reportedly looking at entering the foodtech sector by acquisition of Freshmenu to offer more services to its customers. Paytm which has managed to stay in the news throughout last year for good and bad news, has already been experimenting by venturing into several different verticals like e-commerce (Paytm Mall), ticketing (giving competition to the likes of BookMyShow and MakeMyTrip), and of course, how can one ignore its big entry into the world of banks with the payments bank. So what’s making these startups force an entry into another’s territory? Vivek Durai, founder of paper.vc, a data platform for business intelligence and innovation, told Business Insider that one of the reasons could be simply laziness. “It means they did not have a well-thought out plan to achieve brand and product superiority in their growth vertical. It means that their financing rounds have involved significant amounts of introspection about their ability to sustain in a lead purely on the basis of their existing value proposition,” said Durai. But there’s a silver lining. Investors too have been backing up these expansion plans of startups, proving that these startups are showing space for growth beyond their current segment. And Durai says this is the other reason - an organic one. “The territories they enter are 'features' in a product roadmap and are logical next steps to deliver better value to customers which signals alignment,” he said. While startups might not be consciously encroaching into each other’s segments for growth, what it essentially boils down to is how they are planning their growth. Neha Singh, co-founder and CEO of data analytics platform Tracxn believes that it’s a product-oriented approach – whether these companies are focusing on a single offering or multiple. “In the US, companies are typically focussed on one particular product while Chinese companies have a different approach where they diversify much earlier. Which one is a better strategy is still an open debate especially when India has seen both sides of the coin,” said Singh. The choice between single strategy or multi-strategy approach has been seen in various Indian companies. “When you initially start with one product and then diversify, companies realise it’s difficult to handle and obviously, their burn increases. So while companies can meet with success on the multi-strategy approach, they might sometimes go through a heartbreak too,” said Singh. For example, a BookMyShow has essentially stuck to its basic offering of booking tickets, while a Paytm has diversified into multiple different segments. And there’s one lesson to learn – Paytm has the backing to burn cash. It remains to be seen what works out in the Indian market but with acquisitions and mergers heating up the Indian startup space, there strikes the pertinent question – is the Indian startup world headed towards consolidation? “Eventually, yes. But given that the market itself is evolving, growing slowly – the middle class is still too small compared to China. The need of the hour is to kickstart a production-based economy where Indians are able to spend more money simply because the Indian economy is benefiting from export income,” said Durai. See Also: <a href="https://www.businessinsider.in/paytm-takes-on-airbnb-makemytrip-oyorooms-and-trivago-with-its-latest-offer-hotel-bookings/articleshow/67755276.cms">Paytm is competing with almost everyone in Indian e-commerce</a> <a href="https://www.businessinsider.in/oyo-rooms-eyeing-acquisition-of-freshmenu/articleshow/68112104.cms">Oyo wants a bite of foodtech, may acquire Freshmenu: Report</a> <a href="https://www.businessinsider.in/swiggy-and-bigbasket-will-battle-softbank-and-mukesh-ambani-in-online-grocery/articleshow/68204293.cms">Online grocers are back in business in India with billions more to burn – and that may be good for consumers</a>

You Searched For "bigbasket brand intelligence" and got 8 results

RIL and Amazon are looking at India's $18 billion online grocery market to be their next battleground

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Tata’s tryst with e-grocery starts with a billion dollar acquisition of BigBasket – here’s why it could be a sweet deal for both

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After Juspay, ClickIndia, ChqBook and WedMeGood have been reportedly hacked — data of over 10 million users up for sale on the dark web

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Here are the 25 most influential people on LinkedIn in India

BI India Bureau

Online Grocery market estimated to grow eight times in 5 years in India, JioMart big gainer

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Edtech funding continues – Toppr secures ₹350 crore for its new OS to help schools go digital

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Grofers loss widens to Rs 448 cr in FY19, co says on track to double GMV to Rs 5k cr in FY20

PTI

Do Swiggy, OYO, and Paytm lack Silicon Valley’s planning and conviction?

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