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After Reliance Industries and Tata Group, Gautam Adani-led Adani Group has started building a super app aiming to make it the “greatest, the most influential and the most profitable in the world” as it pursues the next phase of growth with the ambition to become a trillion-dollar company by valuation.
“There can be no vision bigger than this,” Adani said while addressing the Group’s Digital Labs team of 78, all youngsters recently. “Adani Digital Labs has the potential to be the biggest business we have built to date. We must be the Ferrari of the digital world,” he said.
Work on the super app has sparked speculations on the Group entering the telecom space, though a spokesman for the group said there were no such plans.
Adani said the journey of digital labs started in January this year when two youngsters from the Group’s business development team presented the mock-up of a super app they had built. “ Seeing the demo unfold, it took me less than 30 minutes to decide that we must become a player in this space,” he said.
“We have an unmatched mix of 400 million end consumers that engage at multiple levels with an Adani product or service spanning Adani airports, Adani Wilmar, Adani Total Gas, Adani Realty, Adani electricity and Adani financial services,” he noted.
“It was no brainer that a unified digital platform-based approach was required to leverage the unprecedented possibility in this space,” he said.
“ Today, our end consumer base is growing at 15 per cent. If we can onboard every Adani consumer on our digital platform, we will have over a billion consumer well before 2030,” he said.
“I have very little doubt that every one of our own B2C businesses will be engagement driven on a mobile platform.
Other large conglomerates are also adopting the digital platform in a big way. The Tata group plans to offer a host of products and services across e-commerce, financial services, fashion, lifestyle, among others, under the new super app platform. Tata Digital has been entrusted to build this platform and in the last few months the company has picked up majority stakes in a slew of online companies including BigBasket, Curefit, JustDial, Soulfull, 1mg among others.
Adani Digital Labs is a part of Adani Enterprises, which is possibly the largest parent incubator of its size in the world. Every one of our businesses mirrors the DNA of Adani Enterprises including all digital related businesses that span data centres, industrial cloud and now Adani Digital Labs, he said.
This style of fast incubation is an uncommon business model that we have uniquely refined over the years. Every consumer-focused B2C business we are now engaged with has emerged as a natural adjacency of our B2B businesses.
The fact is, the larger AEL becomes, the faster it will continue to incubate and more adjacencies it will create.
"I expect you to get us there, even quicker through a combination of accelerated organic expansion and a series of strategic partnerships. Adani Digital Labs is our path to directly reach a billion human,” he urged the young team.
Adani said that most other super apps are trying to become things they are not. "In our case, right at launch, we will be able to tell our users exactly what we are, an ecosystem of personalised offering that are unique,” he said.
Combining data with an extended and attractive loyalty program, the data allows us to provide far more value than the mass of competitors out here. The level of personalisation we will offer by leveraging algorithm based micro adjacencies is simply unmatched, he stated.
Our strength is being able to take advantage of what I call the market of adjacencies. While, we still have a lot of work to do for the onboarding process, our big leverage is that we do not have to buy consumers, we already have our existing consumers in hundreds of millions and growing at a double digit, he said.
“I am therefore confident we stand at the doorstep of the Adani brand becoming an inseparable part of billions of lives. Help me solve this challenge where every Indian no matter what their background, begin using the Adani super app to lead a better life and then we will have built the greatest, the most influential and the most profitable super app in the world,” he told the Digital Labs team exhorting them to be a part of the Group’s trillion-dollar valuation ambition
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