InvestorQ : What is this latest alliance between Reliance Industries and Facebook and how will it make a difference to the Reliance Group?
manisha Kolvenkar made post

What is this latest alliance between Reliance Industries and Facebook and how will it make a difference to the Reliance Group?

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Mahima Roy answered.
2 years ago
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Reliance Industries and Facebook are exploring the possibility of creating a multipurpose app (on the lines of China’s We Chat) by leveraging the WhatsApp platform and user base. The idea is to create an app that is not just a communication platform but one where users would also be able to buy groceries through Reliance Retail stores, or shop at ajio.com and even make payments using Jio Money. Essentially, it will be a Super App that combines digital payments, social media, gaming as well as flight and hotel bookings, among other features. For RIL, this app will provide B2C engagement with customers and provide the group insights on spending habits of users. In terms of structure, it is likely that a new company could be created where both the players (RIL and Facebook) could invest. Observers have also commented that Facebook could make a big bang foray into the Indian data ecosystem by taking a stake in Jio.

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