Mukesh Ambani’s JioMart expands to 200 Indian cities in challenge to Amazon and Flipkart
Hong Kong (CNN Business) An online grocery business backed by Asia’s richest man is expanding to hundreds of cities across India — a move widely seen as a challenge to Amazon and Flipkart.
JioMart, the grocery platform owned by Mukesh Ambani’s Jio Platforms, expanded services to 200 cities over the weekend. It had previously been piloting deliveries in three areas in and around Mumbai.
The move comes just days after Jio — a part of Ambani’s sprawling conglomerate Reliance Industries — secured more cash to fuel the billionaire’s tech ambitions. The company has raised more than $10 billion in recent weeks, including a $5.7 billion investment from Facebook which includes a tie-up between JioMart and WhatsApp. That deal is still undergoing regulatory approval.
Source: CNN
