Reliance’s funding onslaught continues unabated in 2020 and so does its acquisition spree. Even as it is locked in a legal tussle with Amazon over Future Group, the acquisition of a distressed Urban Ladder has raised a few eyebrows. But what’s becoming apparent is that the oil-to-telecom conglomerate is completing the last leg of the preparations for an entry into the ecommerce sector.
Reliance’s shopping binge began with acquisitions in B2B technology and telecom connectivity — AI-based chatbot maker Haptik, cable broadband companies DEN, Hathway and Datacom, last mile delivery fleet Grab A Grub, omnichannel ecommerce enabler Fynd, AR/VR software and hardware maker Tesseract, among others.
The second thrust was towards content companies — music streaming platform Saavn, entertainment companies Eros and Balaji Telefilms, and edtech startup Embibe coming on board to supplement Jio’s data plans with content