PepperTap

PepperTap
Type of site
 Privately held company
Founded November 2014 (November 2014)[1]
Dissolved April 2016
Headquarters Gurgaon, India
Area served India
Founder(s) Navneet Singh, Milind Sharma
Industry Internet
Products Grocery delivery
Services E-commerce
(Online shopping)
Parent Nuvoex Logistics Pvt. Ltd.

PepperTap was an on-demand grocery delivery service company based in Gurgaon, India. It operated from November 2014 through April 2016.[2][3] Its parent company was Nuvoex Logistics Pvt. Ltd.[3] PepperTap's grocery delivery service went out of business in April 2016. Before the company's demise, PepperTap was the third-largest online grocery delivery service in India.[4]

Overview

PepperTap was founded in November 2014, and provided online shopping for groceries and household items, which included shopping via its mobile application.[2][5][6] Starting with one grocery delivery location in Gurgaon, India in November 2014, PepperTap expanded its online grocery store business to 17 or 18 cities by September 2015.[6][7] By the end of 2015, the company decided to scale back operations, and in January 2016 had a presence in seven cities.[8]

The first seed funding round came five months after the company's inception.[9] Series A funding of PepperTap was led by Sequoia Capital and SAIF Partners, the total of which was $10 million.[9][10] The Series B funding of $36 million was led by the Indian e-commerce company Snapdeal and concluded in September 2015.[11] With this Series B funding, the company had plans to expand its services to 75 cities across India, including smaller cities.[11][12] In April 2016, PepperTap had completely closed its grocery delivery operations.[13]

Grocery delivery service demise and closure

The company's grocery delivery service decline was attributed in part due to lacking technological resources after the company experienced significant growth.[2] The company's founder, Navneet Singh, stated that the company had introduced "too many stores online far too quickly".[2] Another problem leading to the company's demise is that sometimes customers would be unable to view all items for sale, which stemmed from the company's overall lack of technological resources.[2] In April 2016, PepperTap completely closed its grocery operations.[13] PepperTap's grocery operations were also ceased in order to conserve funds to keep the company financially solvent,[4] enabling it to pursue other types of operations and endeavors. PepperTap's parent company, Nuvo Logistics, began to focus on e-commerce logistics services after the closure of PepperTap's grocery business.[14][15]

See also

References

  1. ↑ Verma, Shrutika (16 April 2015). "PepperTap raises $10 million from SAIF Partners, Sequoia Capital". livemint.com. HT Media. Retrieved 26 October 2015.
  2. 1 2 3 4 5 Tandon, Suneera; Sharma Punit, Itika (April 25, 2016). "PepperTap's collapse shows everything that is wrong with India's young internet companies". Quartz. Retrieved 29 September 2016.
  3. 1 2 "Peppertap to shut down grocery delivery; to focus on its logistics business". The Economic Times. April 23, 2016. Retrieved 29 September 2016.
  4. 1 2 Julka, Harsimran. "Why India's third largest online grocer which raised over $50m is shutting shop". Tech in Asia. Retrieved October 17, 2016.
  5. ↑ "Apple by apple, grocery apps find space in middle class shopping baskets". The Indian Express. 21 October 2015. Retrieved 22 October 2015.
  6. 1 2 Johari, Sneha (9 October 2015). "PepperTap adds number masking to hide user's number". MediaNama. Retrieved 22 October 2015.
  7. ↑ Russell, Jon (29 September 2015). "PepperTap Lands $36M To Expand Its Grocery Delivery Service To 75 Cities In India". TechCrunch. AOL. Retrieved 22 October 2015.
  8. ↑ Verma, Shrutika. "PepperTap shuts operations in six large cities, including Mumbai". Live Mint. Retrieved 2016-03-11.
  9. 1 2 Fok, Evelyn (15 April 2015). "Five-month-old PepperTap raises $10 million to deliver groceries in 10 more cities". The Economic Times. Retrieved 22 October 2015.
  10. ↑ "PepperTap raises seed funding from Sequoia Capital". Business Standard. 25 February 2015. Retrieved 22 October 2015.
  11. 1 2 Chandran, Pradeesh (29 September 2015). "Snapdeal leads $36 mn Series B funding in PepperTap". The Hindu. Retrieved 22 October 2015.
  12. ↑ Gooptu, Biswarup; Chanchani, Madhav (30 September 2015). "PepperTap raises $36 million in fresh round of funding, led by Snapdeal". The Economic Times. Retrieved 22 October 2015.
  13. 1 2 Mishra, Amit (3 May 2016). "PepperTap Closed". India Latest News. ILN Group.
  14. ↑ Chakraborty, Sayan (July 25, 2016). "Five start-ups that have changed their business models to survive fund crunch". Mint. Retrieved 18 October 2016.
  15. ↑ Singh, Arti. "What PepperTap's shutdown means for e-grocery business". VCCircle.

Further reading

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