August 18, 2020: Reliance has some mega plans for Indian ecommerce, and going by the looks of it, 2020 can be the year when it all started.
After successfully launching Jiomart, and becoming India’s #1 grocery app by beating Grofers and Big Basket, Reliance is now all set to make further inroads into the ecommerce sector.
As per reports coming in, Reliance can buy Milkbasket, and Urban Ladder, and thereby claim a big chunk of the digital commerce industry in India.
As per reports coming in, Reliance is in advanced-level talks with both Milkbasket and Urban Ladder for a possible acquisition.
In the case of Urban Ladder, the deal can be in the range of $30 million. Infact, talks were on since last several months, and now, an announcement can be made any moment.
Urban Ladder is India’s one of the bigger online platform for furniture and decor products.
In the case of Milkbasket, the talks are also in the advanced stage, but since they received a new funding of $5 million, things have changed. Milkbasket have witnessed an amazing increase of 2-2.5 times in daily orders, and considered as of now of the most promising ecommerce service right now.
Source: Trak.in
