Mukesh Ambani is the richest Indian and he is known for his business skills and investment. He manages India’s most valuable company, Reliance Industries, which has a Rs 17.69 trillion market cap. Apart from this, he is also the owner of many popular Indian startups that also includes Milkbasket, which will reportedly be phased out soon. For those who do not know, Milkbasket is a subscription-based grocery providing startup that was launched in 2015. Mukesh Ambani acquired more than 96% stake in the company in 2021 by paying an undisclosed amount. Now Reliance Retail, parent company of Milkbasket, may give new identity to the startup as the company is about to launch a new Jio Smart Daily platform.
As part of integration of Milkbasket with Reliance's JioMart, some roles may become redundant, and resources will have to explore other opportunities either internally or externally. Currently, Milkbasket has around 600 employees which includes offline marketing, sales and head office team.
Milkbasket serves in the B2C space in Delhi-NCR, Hyderabad, Bangalore, Gurgaon, Noida, Greater Noida, and more. Country Delight and Daily Ninja are the key rivals of Milkbasket in the country right now
(With inputs from agencies)