SUPERAPP
Adani joins Tata and Ambani in race for elusive India superapp
Given the limited traction gained by Ambani’s MyJio and Tata’s Neu despite their wider range of consumer businesses, the Adani Group — whose businesses are largely infrastructure and heavy industrial ones — may have set itself a daunting task.
Tata funds pause is no 'debt-errent' at 1mg, BigBasket
BigBasket and 1mg–two of the biggest digital assets of Tata group–are choosing debt over equity for expansion in a critical year for them. As Tata Sons hits a pause on funding its ecommerce business, the two platforms are opting for debt for capex this financial year.
Adani One launches cobranded credit cards with ICICI Bank, enters financial services
Adani One, the super app by Adani group, launches cobranded credit card with ICICI Bank. The card offers rewards for spends within Adani ecosystem.
From phones to fries: Flipkart users may soon be able to order food via ONDC
Flipkart users may soon be able to order from various fast-food outlets and restaurants, such as Dominos and McDonalds, from Flipkart app. This development is noteworthy because the government started ONDC to counter the dominance of Amazon and Flipkart. Recently several top Flipkart executives met ONDC officials for the integration.
Adani One superapp clocked gross sales of Rs 750 crore in FY24
According to the 2023-24 annual report of the Ahmedabad-based conglomerate's flagship company Adani Enterprises, the user base of the superapp grew to 30 million at the end of the financial year. The company aims to expand the superapp's customer base to 400 million by 2030. Adani group is also in discussions with Paytm for potentially acquiring a stake in the fintech firm.
Traditional financial services catch the super app bug
Financial services companies such as Aditya Birla Capital, Angel One and Muthoot Fincorp are building superapps -- a one-stop applications for all their customers' needs. This development comes as large groups such as Reliance Industries and Tata Group have already rolled out such superapps for everything from shopping to payments and credit under one roof.
China tech giant Alibaba posts modest yearly revenue growth
Chinese ecommerce giant Alibaba announced Tuesday a modest increase in annual revenue, at a time when the firm pursues a major overhaul and regulatory curbs on the country's tech sector are relaxed. Fellow internet giant Tencent posted weakened revenue growth in the first three months of this year, also on Tuesday.
Old guard is out as Tata Digital’s new CEO revamps deck
Tata Digital undergoes significant senior management changes under CEO Naveen Tahilyani, impacting the team behind Tata Neu superapp. Several executives from the original team that launched supperapp have now left.
Tata Neu goes live on ONDC F&B in Delhi-NCR, Bengaluru
Tata Neu, the superapp of Tata Group, also plans to reach more cities in May, sources told ET. ONDC already features two Tata enterprises on the seller side: StarQuick grocery app, and online grocer BigBasket.
Adani in talks with Uber to own, operate an EV fleet
Adani group plans to operate an EV fleet on Uber. Adani Airports has dedicated pick-up zones for Uber. Uber aims to convert its entire fleet to electric by 2040. Adani One offers travel services including flight bookings and hotels.
Why does Gautam Adani want to hitch a ride with Uber?
Gautam Adani's Adani Group is partnering with Uber to enter the electric vehicle market and integrate Uber services into its Adani One super app. Adani aims to invest $100 billion in green energy and expand its airport business. Adani competes with Reliance and Tata in the digital services space.
Tata, Uber aim for strategic alliance to drive digital business
Uber Technologies CEO Dara Khosrowshahi met Tata Sons chairman N Chandrasekaran in Davos earlier this year and they're expected to talk again in Mumbai during the former's upcoming India trip to discuss the broad contours of a potential alliance, executives aware of the matter said. The exact terms of engagement are still being worked out and there's no guarantee it will lead to anything concrete.
Mahindra Finance eyes super-app boost, ropes in IBM
The app aims to be a digital enabler for customers -- both metro and non-metro -- helping them with 24x7 access to products and solutions in a "secure, streamlined, and simple manner", a company statement said.
Tata Digital explores operational integration
Additionally, Tata Digital plans to consolidate its various standalone apps such as BigBasket, 1mg, and Tata Cliq, under the Tata Neu app to increase consumer engagement, boost Tata Neu app utilisation, and enhance operational efficiencies. The flagship digital asset, BigBasket, is also looking to raise up to $100 million in funding from parent Tata Sons.
Tata Sons to invest $1 billion more in digital arm
Earlier this week, Tata Digital appointed Naveen Tahilyani, the former managing director of Tata AIA Life Insurance, as its CEO & MD. Tahilyani replaced Pratik Pal who had been holding the charge since the company’s inception in 2019. Tata Sons has invested more than $2 billion in Neu so far and has board approvals for further capital infusion over a five-year period.
Tata Digital appoints Naveen Tahilyani as CEO, replacing Pratik Pal
Naveen Tahilyani is currently the CEO and MD of Tata AIA Life Insurance. He will assume the CEO role at Tata Digital on February 19. Sources said he was handpicked by Tata Sons chairman N Chandrasekaran after having demonstrated good execution in the insurance, banking and asset management business of the group.
Shriram Finance superapp to go live in January
Currently in beta stage, the app called ‘Shriram One’ will go live next month and is set to be launched formally in the next two-three months.
Tata Group considers topping up another $1 billion for super-app arm
Tata Group is considering investing an additional $1 billion into its super app venture, on top of the $2 billion already invested this year. The conglomerate is aiming to improve its digital business and has asked its digital unit to address operational issues and enhance user-friendliness. Tata Group has also suggested exploring funding opportunities with global sovereign and financial investors, following the strategy of rival Reliance Retail Ventures.
Elon Musk incorporates X.AI, suggesting plans to rival OpenAI
Musk and Jared Birchall, who operates Musk’s family office, incorporated X.AI in March, according to a Nevada state filing with the Secretary of State.
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