Super app: Social media giant Facebook and telecom giant Reliance Jio are coming together to figure out the possibility of a super app, similar to the multipurpose Chinese platform WeChat, according to an ET report. They are reportedly hoping to develop the app using the WhatsApp platform as well as its huge user base.

The development, which is currently in the discussions phase, has been delayed for now due to the ongoing coronavirus-induced COVID-19 pandemic. The idea is to launch a platform that would give users a place to chat, while also letting them shop for groceries from Reliance Retail stores, for clothes and apparels via ajio.com and also make digital payments using JioMoney. The idea is along the lines of WeChat where users can converse, undertake digital payments, play games and also book flights and hotels.

Such a multipurpose app would be beneficial for Reliance Industries in two ways. While it would lead to direct B2C contact for Reliance’s businesses, it would also give the company an insight into the spending trends among the customers.

Facebook-Jio super-app: The current status

According to the report, the project is currently in the due diligence phase, with Morgan Stanley as the investment banker.

The project is compartmentalised and the developments of the project in one department is not known to any other department. The project will be significant for both Reliance and Facebook and both of them will contribute by bringing in funding, expertise in their domain and technical know-how.

However, it is still not clear what the final structure of the project will be. The two giants could form another company to manage the project, with both of them investing in it, or one of them could invest in the other to create a new venture.

The report said that both Facebook and Reliance Jio have hired top-notch lawyers in the US to look at all sorts of legalities.

It had earlier been reported by Financial Times that Facebook was looking to invest billions of dollars for a 10% stake in Reliance Jio. However, how this thing pans out is still to be seen.