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Acquired by Mukesh Ambani in a hostile takeover, #Milkbasket is growing on steroids 🚀🚀
It’s growing in cities where no competition has reached yet, & that too without much upfront investment!
Here’s how 👇
It’s growing in cities where no competition has reached yet, & that too without much upfront investment!
Here’s how 👇
Founded in ’15, Milkbasket (MB) raised ~$40 million in its lifetime 💰💰
🔆 It would let people order till midnight & then deliver by 7am
🔆 By 2021, having grown to scale, it had burnt a lot of funds. Thus, the company was exploring sale to BigBasket, Swiggy or Amazon
🔆 It would let people order till midnight & then deliver by 7am
🔆 By 2021, having grown to scale, it had burnt a lot of funds. Thus, the company was exploring sale to BigBasket, Swiggy or Amazon
This was when Reliance Retail swung into action:
🔆 It got Vani Kola’s Kalaari Capital to sell its entire 15.26% stake to Mahendra Nahata at mere Rs 400cr valuation!
🔆 As Nahata a Director on Reliance Jio Infocomm’s board, it was clear who the real buyer was
🔆 It got Vani Kola’s Kalaari Capital to sell its entire 15.26% stake to Mahendra Nahata at mere Rs 400cr valuation!
🔆 As Nahata a Director on Reliance Jio Infocomm’s board, it was clear who the real buyer was
Acquired by Mukesh Ambani in a hostile takeover, #Milkbasket is growing on steroids 🚀🚀🚀
Who knew #Reliance could turn it around & expand so well, so quick!
Let’s start from the beginning 👇
Who knew #Reliance could turn it around & expand so well, so quick!
Let’s start from the beginning 👇
Founded in 2015, Milkbasket raised ~$40 million in its lifetime 💰
It shot to attention after Vani Kola of Kalaari Capital invested in it.
Kola was known to have the Midas touch. Thus, marquee investors like Blume Ventures, Mayfield Fund, Unilever Ventures & many more followed.
It shot to attention after Vani Kola of Kalaari Capital invested in it.
Kola was known to have the Midas touch. Thus, marquee investors like Blume Ventures, Mayfield Fund, Unilever Ventures & many more followed.
Milkbasket would let people order till midnight & then deliver by 7am.
By mid-2019, it was doing >1L orders/day.
But, it had burnt a lot of funds to get there, and was facing difficulty in convincing investors anymore 😓
By mid-2019, it was doing >1L orders/day.
But, it had burnt a lot of funds to get there, and was facing difficulty in convincing investors anymore 😓
