Just days after announcing that Facebook Inc. would spend $ 5.7 billion for a 9.99 per cent stake in the company’s digital unit, Jio Platform, Reliance launched a small pilot of Jio Mart deliveries in select areas of the Indian financial capital, Mumbai.
The partnership will help Reliance India’s grocery and small businesses take advantage of India’s 40 million user base for Facebook’s WhatsApp messaging service.
Geomart, the e-commerce venture of Reliance’s retail arm, offers Express Generation groceries from neighborhood mom-and-pop stores. This can be a tough challenge for local competitors, which makes it a big bet for the growth of grocery stores.
The launch comes as India witnesses an increase in coronavirus cases. A person familiar with the matter told Reuters that the product catalog on Geomart’s website would be expanded after the lockdown restrictions aimed at preventing the spread of the new coronavirus virus were simplified.
“Never waste a crisis, they say!” Mal said in his tweet. A wise colleague who spoke today said that “Alibaba also benefited from the SARS crisis.”
The oil-to-telecom giant, which is controlled by India’s richest man Mukesh Ambani, did not immediately respond to an email seeking comment on the launch.
Reliance is gearing up for its geo-platforms, which include telecom startups such as Geo Infocomm. Investors, including Facebook, KKR, Co Inc and General Atlantic, made a massive $ 10 billion in a single month.
