Reliance is a company which has the potential to disrupt any market in the world. It is a company which has had a lot of successes in the past and the failures were not so huge. The company has been around for a good three decades and it has only grown. Mukesh Ambani, the owner of Reliance Group is the seventh richest man in the world. He has a net worth of $54.6 billion dollars. This tells us the magnitude of the company.
The Reliance group right now is best known for offering the cheapest internet plans in the world. India has the cheapest internet plans but Reliance Jio is cheaper than that as well. It disrupted the entire telecom market in India overnight. The company did it by offering free 4G internet for three months and then charging a minimal fee after that. Ever since Jio has entered the market, it has gained popularity like wildfire.
That being said, the company has been looking to work in the field of technology for a long time. Mukesh Ambani has always gone with the plans of Make In India and it is going for it again. There are rumors that Ambani and Reliance are coming out with the Indian version of Alexa. These rumors came after Reliance acquired a chatbot maker named Haptik.
Haptik was founded in 2013 and is a service that allows users to chat with the voice assistant. This allows users to make appointments, shop line, travel bookings and also food ordering. The company is known to work with big names, it has worked with the likes of Samsung, Future Group, OYO and even the food behemoth, KFC.
The company is spread to the US and UK in 2018 and 2019 respectively. It is now focusing on English-speaking markets. Reliance is acquiring this startup for INR 200 Cr. This suggests that Reliance is trying to build an ecosystem just like Amazon. The company already has Jio, it is entering the e-commerce market, and there is JioSaavn for the taking with Haptik now coming in the picture. Jio smartphones are also coming to the market. These launches, acquisitions, and mergers point towards an ecosystem of Reliance.
This will be a huge deal if it happens as no Indian company has such an ecosystem. With its recent acquisition of Reverie, a vernacular language tech company and Haptik, it can create something very similar to Alexa and Google Home. It will be interesting to see if the Indian company really does it or not. The fact that Alexa cannot be afforded by everyone as the price is on the higher side is also something Reliance will be looking at. After all, all of its products along the way have been based on aggressive pricing.