PepperTap

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PepperTap
File:PepperTap Logo.png
Type Private
Founded November 2014 (November 2014)[1]
Dissolved Apr 2016
Headquarters Gurgaon, India
Area served India
Founder(s) Navneet Singh, Milind Sharma
Industry Internet
Products Grocery, Household Items
Services E-commerce
(Online shopping)
Employees 1000
Website shop.peppertap.com
Alexa rank Increase 1,013 India (October 2015)[2]

PepperTap was an on-demand grocery delivery service company based in Gurgaon, India, which started operating in November 2014. The company provides an option to shop grocery and household items online through the website and mobile app.[1][3][4][5] Navneet Singh and Milind Sharma are the co-founders of the company.[6][7][8]

History

Started with one service location, Gurgaon, in November 2014, PepperTap had become one of the major players in the online grocery store in India by Q3 2015; by expanding as far as 31 cities.[citation needed] Unfortunately, by the end of 2015, the company decided to scale back operations - and by Jan 2016 - the company operations were limited again to 7 cities. In September, the company rolled back operations in smaller towns such as Agra and Meerut after a month-long pilot failed to take off. According to the company, it further shut down business in larger cities such as Ahmedabad, Chandigarh, Mumbai, Kolkata, Chennai and Jaipur by Feb 2016.[9]

Progress and funding

When it launched in November 2014, PepperTap provided grocery delivery only in Gurgaon.[7] As of September 2015, PepperTap is serving in 17–18 cities.[8][10][11][12]

The first funding round was 5 months after the company's inception. Series A funding of PepperTap was led by Sequoia Capital, and it helped the company in spreading its services in the Delhi National Capital Region. SAIF Partners was also a part of this funding.[13][14] The Series B funding of PepperTap was led by the Indian e-commerce company Snapdeal. With this funding of $36 million, PepperTap is planning to expand its services to 75 cities across India, including smaller cities.[12][15][16][17][18] Expanded service has already started in Visakhapatnam.[19] Upon investing in PepperTap, Kunal Bahl, the CEO of Snapdeal said, "Navneet and his team have done a phenomenal job in building PepperTap into India's leading grocery ordering platform. We look forward to working closely with PepperTap to make them very successful".[20] The company has completely closed its operations in April 2016.[21]

Funding rounds

  • Seed round: Seed funding was provided by Sequoia Capital.
  • Series A funding: In this round, Sequoia and SAIF partners invested in PepperTap, raising $10 million for the company.
  • Series B funding: This round was led by Snapdeal, and also participated in by Ru-net, JAFCO, and BeeNext. Series B raised $36 million.[22]
  • Future funding: PepperTap was in talks to raise another $20 million as of September 2015.[22]

Mobile application

PepperTap has mobile applications for Android and iOS.[23][24] The media house NDTV has reviewed the app and reported both pros and cons.[25]

External links

References

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  8. ↑ 8.0 8.1 Lua error in package.lua at line 80: module 'strict' not found.
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  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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  20. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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  22. ↑ 22.0 22.1 Lua error in package.lua at line 80: module 'strict' not found.
  23. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  24. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  25. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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