Tech giant Facebook along with the Mukesh Ambani-led Reliance Industries are exploring the possibility of building a multipurpose ‘super app,’ according to a report by the Economic Times .
Facebook and Jio are discussing the possibility of building a super app along the lines of the Chinese app WeChat, by leveraging the Facebook-owned messaging platform, WhatsApp, and its user base in India, the report said. WhatsApp’s worldwide user base topped the two billion mark back in February.
The two companies would pitch in for funding, technical expertise and domain expertise required for the project, the report said.
The initial idea for the app is to build a communication platform which lets users perform other functions, connecting it to other Reliance-owned platforms. Users would also be able to buy groceries at Reliance Retail online stores, shop at ajio.com, or make payments through Jio’s payment app JioMoney. The app would be a social media, digital payments, gaming and flight and hotel bookings app all rolled into one.
Discussions regarding the app, which were underway, have, however, been paused in light of the current coronavirus pandemic, which has led to global shutdowns.
The companies are yet to discuss the final structure of the project. Top experts and consultants have been hired from the US for legal issues and taxation, while Morgan Stanley has been brought in as an investment banker, the report said.
Whether the app will be launched as a new venture or not is yet to be decided. The Financial Times last month reported that the firms were in talks earlier about Facebook acquiring a 10 per cent stake in Jio in a “multi-billion dollar” deal.
The discussions have been put on hold due to travel restrictions across the globe in light of the Covid-19 pandemic, it said.
Facebook and Reliance refused to comment on the matter.