PepperTap was a grocery-specific e-commerce and aggregation business. When a user requests something from a local grocery store, PepperTap will gather the best prices and deliver it to their door. There would be no more haggling, no more tainted goods, and no more limited selection.<\/p>\n\n\n\n
But, how did PepperTap operate?<\/strong><\/p>\n\n\n\n PepperTap’s only responsibility was to take consumer orders and deliver the merchandise within two hours. The business plan for PepperTap was pretty simple and uncomplicated.<\/p>\n\n\n\n They were hyper-local and their logistics plan separated cities into zones. Each zone had a few retail stores that supplied PepperTap with its goods.<\/p>\n\n\n\n Customers could choose from a wide range of items at reduced costs with no delivery fees. Additionally, for shops, PepperTap’s technology offered the chance to connect with a larger customer base.<\/p>\n\n\n\n On every order they bring to the retailer, PepperTap would then receive a 20% commission<\/p>\n\n\n\n So, how was PepperTap received?<\/strong><\/p>\n\n\n\n Four funding rounds were completed by PepperTap: a seed round, an April 2015 Series A round, and two December 2015 Series B rounds.<\/p>\n\n\n\n The company raised a whopping USD 51.2 million throughout these four stages. In the early stages, investors often proceed cautiously, but because PepperTap’s concept seemed so promising, they gambled heavily.<\/p>\n\n\n\n The company became affiliated with well-known figures in the startup funding community. Some of the investors who were involved with PepperTap through its investment rounds include Sequoia Capital, SAIF Partners, JAFCO Japan, and Snapdeal.<\/p>\n\n\n\n But, what happened to PepperTap?<\/strong><\/p>\n\n\n\n PepperTap announced in April 2016 that it would permanently close its doors. They began cutting back on cities after a few months and also saw a few significant rounds of layoffs. Many people were surprised by this, but industry professionals had compelling explanations for why this abrupt shutdown occurred.<\/p>\n\n\n\n So, what do we learn?<\/strong><\/p>\n\n\n\n The company’s founders wanted to compete with Grofers and BigBasket in the supermarket delivery market. In 2016, PepperTap began to fire staff as the chaos reached a boiling point following intense investor pressure.<\/p>\n\n\n\n Lessons<\/strong><\/p>\n\n\n\n 1-Always consider creating an MVP first when developing a product. Launch a beta version of the product, gather user input, then refine and expand upon it.<\/p>\n\n\n\n 2-You can only get two of these three things perfect at any given time: fast, good, or inexpensive. A quick-made product of high quality won’t be inexpensive, and vice versa for a quick-made product of low quality.<\/p>\n\n\n\n 3-In addition to learning about startups, you must UNLEARN all the myths propagated by the media.<\/p>\n\n\n\n 4-Not every startup has to become a unicorn. Something that can provide you with the way of life and happiness you want.<\/p>\n","protected":false},"excerpt":{"rendered":" PepperTap was founded in 2014 in Gurgaon, India, by Milind Sharma and Navneet Singh. The two founders shared the same goal: to simplify grocery shopping in India. The only way to achieve that was to abandon the traditional approach and modernize it using the internet. What was PepperTap? PepperTap was a grocery-specific e-commerce and aggregation […]<\/p>\n","protected":false},"author":1,"featured_media":1389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[640],"tags":[98,143,142,144,47,81,83],"class_list":{"0":"post-1215","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-founders-corner","8":"tag-business","9":"tag-failedstartup","10":"tag-graveyard","11":"tag-indianstartup","12":"tag-startup","13":"tag-technology","14":"tag-topstory"},"yoast_head":"\n![\"\"](\"https:\/\/founderlabs.in\/wp-content\/uploads\/2023\/03\/Pepper-tap-1024x1024.png\")
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