According to the Mint report, the Tata group and Walmart are planning to launch the Super App which is a digital retail E-Commerce store. Walmart has invested around $25 billion to launch this app. It is being speculated that the app could be launched by the end of 2020 or in January 2021 in India and it will also have a huge collection of retail products.
The news was released at a time when Reliance Industries’ owner and Asia’s wealthiest man Mukesh Ambani raised funding around $20 billion. From Facebook, Alphabet’s Google, KKR & Co, and Silver Lake Partners.
Flipkart can be under by the Tata group and the Super app will only be the one retail e-commerce app in India and the Flipkart can be is powered by the Tata group could be Walmart offered Flipkart to the Tata group. Its market valuation is being estimated at around $50 to $60 billion as soon as the super app is launched.
Super Apps will be India’s largest e-commerce retail app offering all kinds of retail services like in China WeChat starting from messaging app, expanded into payments, cabs, shopping, food ordering, cab services. The Super app is an umbrella in which the entire mall is merged, where the customer will be buying all kinds of retail services and products.
Walmart has hired banker Goldman Sachs, according to the report to make a deal with Tata Groups. Walmart, Tata Group, and Goldman Sachs did not immediately respond to Reuter’s requests for comment.