🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

India's Reliance to embed e-commerce app into WhatsApp within six months - Mint

Published 01/18/2021, 12:14 AM
Updated 01/18/2021, 12:15 AM
© Reuters.
GOOGL
-
AMZN
-
META
-
GOOG
-

BENGALURU (Reuters) - Mukesh Ambani's Reliance Industries plans to embed its ecommerce app JioMart into WhatsApp within six months, financial daily Mint reported https:// on Monday, as the Indian conglomerate looks to ramp up its retail and grocery business in the country.

Reliance, which has been trying to move away from its mainstay oil and energy business, had last year raised about $26 billion from investors like Google (NASDAQ:GOOGL) and Facebook (NASDAQ:FB) for its digital and retail arms as it takes on Amazon.com Inc (NASDAQ:AMZN) and Walmart-backed Flipkart in India.

The move to integrate JioMart with WhatsApp will allow hundreds of millions of users to order products from Reliance without having to leave the app, Mint said, citing two officials aware of the development.

At last count, WhatsApp had about 400 million users in India. Facebook invested $5.7 billion for a 9.99% stake in Jio Platforms last year.

JioMart was launched https://www.reuters.com/article/us-reliance-retail/indias-reliance-launches-jiomart-online-grocery-service-challenging-amazon-flipkart-idUSKBN230070 in May last year with plans to be operational across 200 cities in India. The e-commerce venture of Reliance's retail arm offers free express grocery delivery from neighborhood mom-and-pop stores.

Reliance Industries and WhatsApp owner Facebook did not immediately respond to Reuters requests for comment.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.