Buildit: The New Book by Albinder Dhindsa, CEO of Eternal
Buildit reveals insights from Albinder Dhindsa, the co-founder of Blinkit and current chief executive of Eternal, the parent company of Zomato and Blinkit. This inaugural book is set to be released by HarperCollins India and will be accessible in bookstores and online from April 15.
The Essence of Buildit
Buildit is a culmination of Dhindsa’s ten years of experience in establishing Blinkit. It reflects on the intricate realities of manoeuvring through India’s business environment, making pivotal decisions under stress, and developing systems that are equipped to manage the rapid expansion of the company.
Continuing the Narrative of Indian Business Founders
Buildit contributes to the growing collection of narratives penned by Indian entrepreneurs documenting their experiences. Notable recent releases in this category include Ronnie Screwvala’s Dream With Your Eyes Open, Subhash Chandra’s The Z Factor, Ashneer Grover’s Doglapan, and Deepinder Goyal’s Unseen.
The Journey of Blinkit
Dhindsa, along with Saurabh Kumar, established the company in December 2013 under the name Grofers, aiming to create a hyperlocal delivery service that linked consumers with local shops for swift pickups and deliveries. Between 2016 and 2020, Grofers revamped its business model, shifting to an inventory-led approach while expanding its presence to over 20 cities, despite facing tough competition and challenges related to profitability.
A Major Rebranding and Transition
The most pivotal transformation occurred in December 2021 when Grofers was rebranded as Blinkit. This strategic move centred around quick commerce, offering delivery times of 10 to 15 minutes through a network of dark stores and micro-fulfilment centres established in key cities.
Acquisition by Zomato
In 2022, Zomato acquired Blinkit in an all-stock transaction valued at around $568 million, integrating it into a wider delivery ecosystem that included food and various on-demand services.
Geographic and Product Expansion
Following the acquisition, Blinkit continued its expansion journey, now operating in over 30 cities and diversifying its product range to include electronics and home care essentials. The company competes with Zepto, Swiggy Instamart, and BigBasket Now in a fiercely competitive market, facing ongoing challenges related to logistics and workforce management.
A New Chapter as CEO of Eternal
This year marked a significant shift in leadership as Dhindsa was appointed CEO of Eternal after the resignation of Deepinder Goyal, who stepped down on February 1. This leadership change is crucial for one of India’s leading consumer technology companies.