Reliance About To Acquire Urban Ladder, MilkBasket: Reliance’ Big Plans For Ecommerce Revealed
Reliance has some mega plans for Indian ecommerce, and going by the looks of it, 2020 can be the year when it all started.
After successfully launching Jiomart, and becoming India’s #1 grocery app by beating Grofers and Big Basket, Reliance is now all set to make further inroads into the ecommerce sector.
As per reports coming in, Reliance can buy Milkbasket, and Urban Ladder, and thereby claim a big chunk of the digital commerce industry in India.
Reliance Can Acquire Milkbasket, Urban Ladder
As per reports coming in, Reliance is in advanced-level talks with both Milkbasket and Urban Ladder for a possible acquisition.
In the case of Urban Ladder, the deal can be in the range of $30 million. Infact, talks were on since last several months, and now, an announcement can be made any moment.
Urban Ladder is India’s one of the bigger online platform for furniture and decor products.
In the case of Milkbasket, the talks are also in the advanced stage, but since they received a new funding of $5 million, things have changed. Milkbasket have witnessed an amazing increase of 2-2.5 times in daily orders, and considered as of now of the most promising ecommerce service right now.
They are currently serving more than 1.3 lakh households with fresh milk, dairy products of more than 9000 categories across Gurgaon, Noida, Dwarka, Ghaziabad, Hyderabad, and Bengaluru.
Reliance’ Mega Plans For Ecommerce
By acquiring Urban Ladder, Reliance can make a major inroad into the furniture and home decor niche, while Milkbasket acquisition will give Reliance a major heads-up into the online dairy market, which is growing at an astonishing pace.
Within few months of their launch, Reliance owned Jiomart has become India’s biggest grocery app by clocking whooping 4 lakh daily orders.
They also have plans to sell smartphones, TVs, clothes, healthcare products and more, thereby becoming a hardcore ecommerce portal, directly challenging the might of Walmart-owned Flipkart and Amazon.
We will keep you updated, as more details come in.