Tata digital announced that it will be buying a majority stake in e-pharma startup 1mg, as it intends to build its super app. The Tata group-owned company, recently, has bought BigBasket and made an investment in Curefit. The financial details of the deal were not disclosed. The buying of a stake in 1mg will increase Tata digital’s reach as the e-pharma startup has a supply chain of over 20,000 pin codes and works with three advanced labs.
PayPal, the online payment company worth $300bn, is likely to emerge as a Super App. CEO Dan Schulman said having different apps for different tasks was not viable, instead of having one app for all sorts of payments would be convenient. It is estimated that at least 25% of US adults that struggle to access mainstream financial services would be open to testing the super app. Schulman has been pursuing investors and other companies to continue partnering with PayPal.
Tata Digital – Tata Group’s tech arm – is set to launch an integrated ‘Super App’ which will combine its consumer offerings on a single platform, enabling the firm to pit against rivals Reliance and Amazon. Tata Digital operates e-comm platform Tata CLiQ, online grocery store StarQuik, and online electronics platform Croma. Launching December, the app will enable customers avail various services including food, electronics, fashion, financial services etc.