Reliance has put its weight behind VSS Mani – founder and current CEO of JusDial – who would continue to lead the growth of JustDial.
After the failed acquisition talk with TATA, JustDial is apparently all set to be acquired by Reliance. According to the latest media report, the acquisition of JustDial by Reliance could be announced within the next few days.
Mukesh Ambani, on the other hand, already started looking beyond Future Group, which is stuck in the legal crosshairs with Amazon. JustDial fits perfectly well in the long-term strategy of Mukesh Ambani to take Reliance, telecom to petrochemicals conglomerate, to new heights by leveraging on the huge database that JustDial – India’s oldest information search and listing company – has.
JustDial is expecting to evaluate the proposal in the next board meeting, which is scheduled for 16th July 2021. Sources have confirmed that the main agenda of the meeting is to approve the proposal, followed by an official announcement.
Reliance Acquires JustDial: Big Picture
Food For Thought
The flourishing startup ecosystem has emerged as the biggest challenge for JustDial in recent years. Banking upon investors money, startups are spending millions of dollars in reaching prospective customers, which has eventually reduced people’s needs and dependency on merchant search platforms like Justdial.
Reliance has been aggressively promoting JioMart to acquire a sizeable share of the retail e-commerce market of India. The company is working closely with Facebook to integrate its retail offerings with WhatsApp. This will allow 400 million users of WhatsApp in India to order from JioMart directly from WhatsApp.
The acquisition of JutsDial will Reliance to capture the biggest chunk of the retail e-commerce market in India at a much faster rate. There is no one other Retalince who can make the most of the unparalleled access to billions of information that JutDial has.
