STARTUP-STORIES

Adani One Superapp Achieves Rs 750 Crore in Gross Sales for FY24

SUMMARY

Adani One, the Adani Group's superapp, achieved Rs 750 crore GMV and 30 million users in its first year. They aim for 400 million users by 2030 and plan to expand services beyond travel (bill payments, e-commerce) to cater to both urban and rural demographics.

This growth comes amidst rising competition from Tata Neu and leverages India's digital push (UPI, ONDC) for superapp adoption. Adani One is exploring partnerships (Paytm, Uber) and new ventures (electric vehicles) for future growth.

The Adani Group's superapp, Adani One, has achieved initial success in its first year of operation. Here's a breakdown of key points and future plans:

Growth and User Base:

GMV (Gross Merchandise Value): Rs 750 crore in 2023-24.
User Base: 30 million at the end of the financial year.
Ambitious Target: Aims to reach 400 million users by 2030.

Services Offered:

Travel: Flight and train ticketing, airport services (food & beverage, duty-free shopping) at Adani-run airports.
Bill Payments: Utilities (electricity, gas, mobile), Fastag recharges, insurance premiums.

Expansion Strategy:

Two-pronged Approach: Attract new customers while offering more services to existing ones.
Catering to India and Bharat: Aims to serve both urban and rural demographics.
Potential for E-commerce: Exploring entry through ONDC (Open Network for Digital Commerce).

Competition and Context:

Tata Neu: Adani One faces competition from another conglomerate superapp, Tata Neu.
Digital India Push: Government initiatives like UPI and ONDC create a favorable environment for superapps.

Future Outlook:

Monetization: Building a monetizable digital ecosystem for Adani's B2C offerings.
Strategic Partnerships: Collaboration discussions with Paytm and potential Uber integration within Adani One.
Expansion into New Verticals: Exploring entry into electric vehicle fleets and e-commerce.

Adani One's initial growth demonstrates its potential to become a major player in the Indian superapp landscape. Its ambitious user base target and multi-pronged expansion strategy will be crucial for success in a competitive environment.