Stake in reliance retail

Amazon

Amazon is an e-commerce platform. It is a big platform which provides various brands to come together and sell their products. Many big and small brands are present on Amazon and they can compete with each other.

Amazon is a wide platform. Dealing in various products of various brands like fashion, electronics, health care, skincare, books and even it has an Amazon pantry. Where we can order food items.

Though, Amazon has it’s own supplies pantry. But, Reliance is planning to buy a 9.9% stake of Reliance digital.

Stake in reliance retail

ET Now: A news channel reported that reported on Thursday. That, Amazon.com Inc. Talks about buying a 9.9% stake of Reliance Industries Ltd.

A tweet shared by The News channel’s twitter account states, “Amazon wants a preferred strategic stake in Reliance Retail for JioMart.”

JioMart is a kind of food supplying pantry if Jio. The application provides at least a 5% discount on each product. Also, helping the small shops and Kirana stores to earn.

Therefore, it has become very famous. And, people are preferring JioMart over Amazon or Flipkart. Though, the application was launched 2 months back in May 2020. And already started attracting the customers.

The CEO of the company Mukesh Ambani has praised around $20 billion since late April. To expand its digital arm. He had raised the money including from Facebook Inc. And Google.

Reliance Industries is gaining a huge amount of investments from various big companies.

A tweet by ET now also stated,” World’s richest man Jeof Bezos and 5th richest man Mukesh Ambani are believed to be in talks for a Mega Deal for India.”

If the deal will be finalized. It will be a great success for the company. Also, there will even more expansions in business. Which will help in development for the country.

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