flipkart_nearby

The online grocery delivery sector has been seeing a lot of new entrants into the market, from established startups expanding into this field to new ventures being launched. Flipkart made one such attempt about 6 months ago with their latest foray into this area, Nearby. Other major competitors in the market are Peppertap, Grofers and Amazon, which also launched a similar service.

Nearby was launched 6 months ago by Flipkart. It was operational only in certain regions of Bangalore between 10-8 PM. They claimed to deliver the order within an hour of it being placed. But unfortunately this did not work out as they had expected. They faced a lot of problems the major ones being lack of demand and customers, they have finally decided to put this little "experiment" to rest. 

Incidentally, Flipkart is not the only one to face such problems, giants like Grofers and Peppertap also had to withdraw from a number of cities, citing similar reasons. Grofers had to shut its operation in 9 cities and Peppertap closed down in 6 cities. Despite having raised a decent amount in funding, startups in this area still seem to be struggling and haven't been able to put down some solid roots in the ground.

Flipkart has recently seen a change in its reign. There is a speculation that this was a move by the new set of people at the top floor. Binny Bansal was recently made the CEO of the company replacing Sachin Bansal.

Notably, Flipkart saw two of its executives Mukesh Bansal and Ankit Nagori leave the company to start with their own venture. With its leash in the hands of a new team Flipkart is on its way to restructuring which might lead to an eventual IPO in the next few years. Flipkart will be focusing more on making it delivery better in various cities of the country. They plan to deliver a major chunk of their orders through their own logistics and are working towards the same.

 

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