Albinder Dhindsa is the CEO & Co-Founder of Grofers, an online delivery facility for everyday needs such as grocery, bakery items, flowers, fruits, and vegetables. Apart from these, Grofers also provides delivery services for baby care products. Unlike most businessmen/businesswomen, Dhindsa had no intention of becoming an entrepreneur. But, he could not hold himself from testing the entrepreneurial waters when he saw a huge gap in the market coupled with a lucrative opportunity. Albinder Dhindsa is an IITian by education, he has a Masters in Business Administration from the Columbia University--Columbia Business School.
Idea Behind Grofers
Albinder Dhindsa - Education
What is Grofers.com?
Grofers Business Model and Funding
FAQs
Idea Behind Grofers
Soon after Albinder completed his graduation from IIT-D, he began his career as a transportation analyst at URS Corporation in 2005. After working for two years, he joined Cambridge Systematics as a Senior Associate and went on to work with the same organization for three years. In 2010, Dhindsa decided to quit his job and pursue his MBA from the United States. During his time in the United States, he joined UBS Investment Bank in 2011 for a duration of 3 months.
Post-MBA, Albinder Dhindsa decided to return to India and join Zomato as its new head of international operations. His tenure with Zomato was instrumental in his desire to become an entrepreneur, he gained significant knowledge and awareness about the Indian startup industry and the ecosystem surrounding it. He decided to create a new startup—Grofers.
Going back in time, it all started when Dhindsa was in the United States. While Dhindsa was pursuing his MBA, he met Saurabh Kumar, who was working with Cambridge Systematics. Saurabh is a graduate from IIT Bombay and holds an MS degree from the University of Texas. He has worked with Opera Solutions as Senior Analyst and Rasilant Technologies in Mumbai as the Chief Operating Officer.
Both Dhindsa and Saurabh had observed a huge flaw in the logistics segment and sensed a huge opportunity that had to be addressed. The duo noticed that most of the transactions between consumers and merchants in the hyperlocal space were unorganized. After recognizing the problem and pondering the solution, they spoke to a few merchants and got to know about local pharmacies, which could deliver 50-60 home deliveries per day within a radius of three to four kilometers.
Even though the merchants had a solid customer base, they were struggling in terms of quality and reliable service to their customers. Keeping this in mind, the duo began building a platform that could eliminate this flaw. After a lot of research and idealizing, Albinder and Saurabh launched One-Number in 2013. Although many restaurants were covered by their venture, it was observed that most of the delivery requests was coming from groceries and pharmacies. The team then decided to focus on two genres, groceries and pharmacies. One-Number was then rechristened Grofers—a logistics company.
StartupTalky
Albinder Dhindsa - Education
Albinder Dhindsa completed his graduation from IIT-D. Being an IITian by education, he has a Masters in Business Administration (MBA) from the Columbia University-Columbia Business School.
What is Grofers.com?
Grofers.com is owned and run by Locodel Solutions Private Limited. It is a logistics company that provides an e-commerce platform for daily shopping. The service enables users to shop from their favorite merchants and assures doorstep delivery within 90 minutes. The company makes local shopping easy and quick. It delivers a wide range of products which includes and is not restricted to grocery, bakery, flowers, fruits and Vegetables, electronics, and pet care services. One of the best features of Grofers is the scheduling of deliveries, either instant or at a later time. Grofers.com currently operates in 10 cities: Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, and Pune.
Grofers Business Model and Funding
The company operates on a B2C (Business 2 Customer) model, was followed a B2B ( Business 2 Business) model earlier. The best part of setting up Grofers was the endless possibilities of utilizing a hyper-local delivery network. Like many other successful ventures, Grofers had the problem of generating awareness to attract consumers. The quality service Grofers provided made it a popular name and a trustworthy brand. By closing on around 500 deliveries per day, Grofers.com gradually established itself as a formidable competitor. After a few months, Grofers expanded by adding 7 stations and was completing 3000 orders daily. Grofers did not conduct a single marketing campaign for promotion.
Grofers is valued at over 115 million USD. The average ticket size is INR 560 and with over 400 merchants, Grofers is able to fulfill 6000 orders per day. The growth being achieved is significant as the number of deliveries fulfilled is tripling every month. The company has received around 45 million USD from Sequoia Capital and Tiger Global Management.
StartupTalky
Albinder Dhindsa never planned to become an entrepreneur. It was a journey filled with learnings that established him as a startup founder. Today, Grofers has become a household name thanks to Saurabh and Albinder. Budding entrepreneurs should learn to identify shortcomings clearly visible but yet to be addressed!
FAQs
Who is the CEO and Founder of Grofers?
Albinder Dhindsa is the CEO & Co-founder of Grofers, Saurabh Kumar is the COO & Co-Founder of Grofers.
What is Albinder Dhindsa's Education?
Albinder Dhindsa completed his graduation from IIT-D. Being an IITian by education, he has a Masters in Business Administration (MBA) from the Columbia University-Columbia Business School.
What is the Revenue model of Grofers?
Grofers operates under a Commission-based Revenue model, taking a commission from merchants for all orders placed through its platform. Grofers generates revenue through the provision of grocery delivery services to customers in India.
Author: Piyush Mishra
Source : https://startuptalky.com/albinder-dhindsa-grofers/
Date : 2020-08-21T09:08:00.000Z