Grofers makes ₹115 crores on day one of Grand Orange Bag Days Sale with flour, sugar and instant noodles as top sellers
- Online grocery startup Groferes sold 1.35 crore products to make ₹115 crores on day 1 of its sale.
- The Grand Orange Bag Days (GOBD) sale is on till 18th August and the startup hopes to make ₹580 crores in sales in one month.
- In May 2019,
Grofershad raised over $200 million from Softbank Vision Fund, making it an almost unicorn.
Grofers has its second edition of GOBD sale going from August 10-18, where it’s offering consumers 100% cashback on purchase to all users. Customers earn this cashback in terms of Orange cash (the startup’s own cash for users to purchase products). Through this event, the startup hopes to make ₹580 crores in sales in one month.
The top selling products were atta (flour), sugar and instant noodles
“Our opening day sale of ₹115 crore, which is double of the GOBD 1 first day sale is a testament to our successful engagement with consumers and a great sign for small businesses that are growing across the country by partnering with us,” said Kshitij Torka, Senior VP, Demand, Grofers.
In May 2019, Grofers had raised over $200 million from Softbank Vision Fund, along with KTB, and along with existing investors – Tiger Global Management and Sequoia Capital. This funding made Grofers an ‘almost unicorn’.
Over the last two years, Grofers’ has grown by a staggering 800%, to achieve an annual revenue of $400 million. The startup was in the doldrums a few years ago, with reports of shut downs in several cities doing the rounds.