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Redmart Business Model

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RedMart is a Singapore-based online supermarket delivery service that offers a wide range of groceries and household essentials with the convenience of home delivery 7 days a week. It was founded in 2011 by Roger Egan III, Vikram Rupani, and Rajesh Lingappa. It has more than 20,000 products in stock, and they are adding more regularly. They offer their products at lower prices and even have great deals every day, customers can order anytime from anywhere through their website or mobile application. They have the latest warehouse and delivery technologies to ensure the order gets to you as ordered and when you want. They provide free delivery for orders above $75 and same day delivery when you placed before 10 am and customers can pick their …show more content…

Roger who started his first business at the aged of 10 about shovelling snow off his neighbour’s driveways and he even hired other kids to do it. However, he did not take entrepreneurship as a serious career path to purse until the financial crisis hit. After his graduation, he has two career choices to make which is Investment banking or consulting. He spent more than a year as an Associate at Omega Capital and he left and started an insurance brokerage company that went to raise US$320 million in venture capital. He met Vikram who is the co-founder of RedMart while he doing his master at INSEAD Asia campus. Rajesh Lingappa was a Chieft Architect at Bubble Motion, has joined Redmart as Co-founder as he want to look for his next big challenge. They believe they can create a better technology to save people time and reduce the trouble in the everyday chores. They get the funds from a group of investors including Garena, Toivo Annus (Skype Co-founder), Eduardo Saverin (Facebook Co-founder), Jason Ackerman (CEO of FreshDirect), Visionnaire Ventures, and SoftBank Ventures. The company use the funds to build operational capacity to support the growth and expand its product range from fresh foods. In conclusion, being a successful entrepreneur is the one who has a vision for opportunities and taking responsibility for decision making. He also has to believe in his idea, have the willingness to take on the challenges and lastly being able to combine all the elements of the business models to process his idea to become

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