The much-anticipated super-app developed by an internal firm that Gautam Adani wants to be “the Ferrari of the digital world” is about to be unveiled.
Asia’s richest tycoon recently told the Financial Times in an interview that the portal will take off in the following three to six months.
However, as demand for online services soared during the pandemic, Gautam Adani seemed to have missed the sweet spot.
The tech sector is currently in chaos on a worldwide scale. In the meantime, there is fierce competition in Indian e-commerce.
Will Gautam Adani’s Ferrari become snarled in gridlock?
According to the Financial Times, the smartphone app would link travelers at Adani’s network of airports with other services provided by his company. The most straightforward technique to increase downloads might be in that manner.
Gautam Adani manages seven airports in India and is constructing a brand-new terminal and runway for Mumbai’s second airport. 20% of all aviation traffic in the country passes via him.
Media sources claim that Gautam Adani is investing in taxi fleets in places where he operates airports. If he provided a free trip home, he could convince millions of people to download his nameless app.
The Chinese approach combines retail, payments, entertainment, social networking, and money in one location. Before Beijing became concerned about the dominance of its digital titans and made them the target of stern antitrust action, companies like Alibaba Group Holding Ltd., Tencent Holdings Ltd., and Meituan perfected it.
The tech crackdown from last year may be easing, but China’s Covid-19 policies are still having a negative impact on consumption: Alibaba just revealed a shocking quarterly deficit.
Investors in Southeast Asia, where the model was successfully duplicated, now expect profitability before expansion.
GoTo Group, the enormous Indonesian corporation created by the union of ride-hailing service Gojek and online retailer Tokopedia, is laying off 12% of its staff.
