Reliance Bets Big On Ecommerce – Acquires 2 More Startups From Logistics, Software Space
Will Reliance Be Able To Disrupt E-commerce?
Mukesh Ambani is planning to acquire yet some more startups, adding two more to its already long list. Now, Reliance Industries is planning to partner with Grab A Grub and C-Square Info Solutions.
Here are all the details about the partnership!
Two More Startups Partnering With Reliance.
From textile and telecom to energy, petrochemicals, natural resources, and retail, Reliance is one of the industries that is reigning over almost every field. The conglomerate has now acquired two new startups, one is last mile logistics delivery service Grab A Grub and the other one, software services firm C-Square Info Solutions.
Only recently, Reliance had acquired three different startups, language localisation technology platform Reverie Language Technologies, software-as-a-service startup Easygov, software simulation services company SankhyaSutra Labs.
In December 2018, Reliance had initiated a partnership with blockchain startup Vakt Holdings. September 2018 saw Reliance power the artificial intelligence startup Netradyne and in April, edtech startup Embibe as well.
As per reports, these partnerships are a result of the shrewd decisions of Mukesh Ambani, head of the industries and Asia’s richest man. He plans to overthrow his rivals in the e-commerce industry, such as Amazon, Walmart, by entering around $36 billion in India’s e-commerce market.
In the recent past, Mukesh Ambani had announced his plans of launching an e-commerce platform that would get an investment of about Rs. 3 Crores. He declared this at the Vibrant Summit that took place in Gujarat, with India’s Prime Minister, Mr Narendra Modi present. This new project will empower 1.2 million shopkeepers in Gujarat. This project will be done by a joint venture of Reliance Jio and Reliance Retail, across 5000 cities and towns. Many remote villages will also be able to enjoy the benefits of this plan.
Market Experts’ Opinion
Here is what experts have to say about the whole affair:
Arvind Singhal, chairman and managing director at retail consultancy firm Technopak said, “Reliance has an ecosystem of entertainment, financial services, payment gateway, etc. Once it has customers hooked on to these services, then it is a question of time before it can start offering merchandise as well.”
Whereas, Naresh T Raisinghani, CEO and Executive Director at India division of global consulting firm BMGI, is of the opinion that Reliance has been able to maintain the 3-5% profit, which is the range of profit for the retail sector. “Nobody would have thought that they would pull off something like Jio,” said Raisinghani.
What do you think of this new partnership by Reliance? Let us know in the comments section below!