The majority of users have over 50 apps on their tablets. However, for app hoarders like my friend, 120 will be a conservative estimate (trust me, searching for an app on his phone is a workout for the hands). Super applications will be useful in this situation: You only need one app to unlock more than 50 features. Doesn't that sound simple? PayPal, too, has recently hopped on board, declaring its intention to become a mega client.
While we know that several businesses are attempting to become mega apps, who are the ones that are getting close?
Today we look at:
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The major players in India's super-app race
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A US$29 million investment has been made in an alternative meat startup.
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Other noteworthy developments include Tata Group's purchase of a significant stake in BigBasket and Grab's strategic alliances in Indonesia.
“Super app” is a status sought after by many. Most of you would already know the popular ones such as WeChat in China, and Grab and Gojek in Southeast Asia. But who holds the super-app crown in India?
- The top contender: Paytm is the closest thing to a super app in the country. It allows users to make digital transactions, buy flight and entertainment tickets, purchase insurance, and more. But Paytm still pales in comparison to what a super app like WeChat can do.
- Catching up: Tata Group and Reliance Industries Limited are two of India’s largest conglomerates that are also vying to become a super app. The former has a strong brand name and a lot of consumer-facing brands under its belt while the latter has a well-established online presence and the backing of social giant Facebook.
- The fight heats up: According to our chart that compares the service offerings of the different companies in India’s super-app race, Paytm and Amazon are currently leading the space. But one thing to note is how all the key players are still missing two important components: food delivery and ride hailing.
