TATA 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.
Tata Digital renews lease for headquarter Fort House in South Mumbai
The technology company that controls Bigbasket, Tata 1mg, Tata Cliq, Croma, and superapp Tata Neu among others will be paying rentals of nearly Rs 3 crore per month as per the agreement that stipulates lock-in period of one year.
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.
Tata Digital’s new team; Pine Labs’ India redux
Tata Digital chief executive Naveen Tahilyani has restructured the leadership team for the Neu super app. This scoop and more in today’s ETtech Top 5.
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Paytm’s lending biz in trouble; inside Tata Digital’s top-level churn
Happy Wednesday! Paytm’s lending business has hit a roadblock as partner NBFCs have stopped issuing loans. This and more in today’s ETtech Morning Dispatch.
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.
Cultfit elevates Naresh Krishnaswamy as CEO, Mukesh Bansal takes on executive chairman role
Naresh Krishnaswamy was previously the head of fitness services at Cultfit. He has been running all key operations at the firm since cofounder and former chief executive Mukesh Bansal moved to Tata Digital as its president.
Tata Digital CEO steps up focus on lowering costs
Naveen Tahilyani, handpicked by Tata Sons chairman N Chandrasekaran from the group's insurance business Tata AIA Life Insurance, has been tightening spends at the digital ecommerce entity and bringing a more data-driven operational strategy to the table. Since his appointment in February, Tahilyani has been guided closely by Chandrasekaran, who is keen to push Tata Neu.
Tata Digital CEO steps up focus on costs, business cohesion
Naveen Tahilyani, handpicked by Tata Sons chairman N Chandrasekaran from the group's insurance business Tata AIA Life Insurance, is also bringing in a collaborative mindset to smoothen operational glitches and boost participation from group companies, company sources said. Since taking up the new role in February, Tahilyani is being guided closely by Chandrasekaran, who is keen to see the consumer app gain a stronger foothold before seeking any external investor interest.
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.
Why Tata wants Uber to speed up its super app Tata Neu
Tata Group's digital arm, Tata Digital, is in talks with Uber for a strategic partnership to address challenges in user growth and customer engagement. The collaboration aims to leverage Tata's super app, Tata Neu, and Uber's expertise to increase traffic and revenue in the e-commerce market.
Tata hails Uber to drive Neu traffic
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.
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.
RBI to meet stakeholders on Paytm; Tata Digital’s $1 billion boost
The banking regulator will meet industry bodies and other intermediaries next week to chart a course for migration of merchants and customers from Paytm. This and more in today’s ETtech Morning Dispatch.
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 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, the people said.
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.
Ambani, Adani, Tata & Jindal: The four pillars of Indian team boosting Modi's self-reliance vision
The current consensus among political analysts is for Prime Minister Narendra Modi to retain power in this year’s general elections. In that case, expect a further consolidation of wealth in the hands of Mukesh Ambani, Asia’s richest businessman, and Gautam Adani, his closest rival.
Why is Tata Group raising its bet on its super app Tata Neu?
The $1 billion injection will be on top of the $2 billion that Tata Group invested in the venture earlier this year, the sources told ET, asking not to be identified discussing information that is private. Tata Digital will receive the new funding in the coming year should a deal proceed.
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.
Ratan Tata Endowment Fund buys into two Tata companies
The Ratan Tata Endowment Foundation has made its first investments by acquiring minor stakes in Tata Digital and Tata Technologies. The foundation, established by Tata Trusts chairman Ratan Tata, purchased a 1% stake in Tata Digital, valued at over $15 billion, and a little less than 1% stake in Tata Technologies. These investments will help generate funds for philanthropic purposes, as the Trusts' philanthropic activities are expanding.
Tata Neu: behind the superapp’s muted performance in first year of launch
The Tata group’s ecommerce team has gone back to the drawing board to revamp the Neu landing page and is considering changes to the superapp's consumer-facing interface.
Tata to infuse $2 billion into super-app Neu; tech firms slashed over 1.5 lakh jobs this year
Tata Group is planning to infuse another $2 billion into its super app venture Tata Neu, news agency Bloomberg reported, citing people familiar with the matter. This and more in today’s edition of ETtech Top 5.
Tata Group mulls injecting $2 billion into super-app Neu
Tata Digital Pvt. will receive the additional funding over two years should a deal proceed, the people said. The fresh capital could help online platform Tata Neu, which went live last April, to strengthen its digital offerings, fix technical glitches and meet any new spending needs, one of the people said.
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