wordpress blog stats
Connect with us

Hi, what are you looking for?

Jio to acquire Haptik for Rs 200 Cr: report

Reliance Jio is in the process of acquiring Haptik, a chatbot assistant company, for Rs 200 crore to build an Alexa-like platform, reports Inc42. Haptik co-founders Aakrit Vaish and Swapan Rajdev have signed a Business Transfer Agreement, the report added. Note that this is source based, and is as yet unconfirmed.

Haptik reported revenues of Rs 4.58 crore and net losses of Rs 22.54 crore for FY18, the report stated.

If Jio does indeed buy Haptik, we could see multiple use cases across its digital businesses.

  • Yesterday, we reported that Jio was testing a new Triple Play plan – a service that bundles video, voice and data – on its JioGigaFiber FTTH connections, and will offer 100GB of high-speed data (capped at 100 Mbps), unlimited voice calling, Jio Home TV subscription and Jio native apps.
  • Last month, Reliance Jio launched its own group calling app called ‘Group Talk’.
  • In January, the CCI approved Reliance Industries’ acquisitions of majority stakes in DEN Networks and Hathway Cable.
  • In December, RIL merged its two music streaming services — JioMusic and Saavn into one, months after buying Saavn for $104 million.

Haptik’s previous funding

Note that Haptik has pivoted to being a chatbot assistant app from being an IM concierge like app in 2016. Then, it had raised funding from Times Internet and entered into a strategic partnership with the company. Prior to this Haptik had raised $1 million from Kalaari Capital in September 2014 for developing new features and marketing. In October 2015, it partnered with Mumbai City FC to provide Indian Super League info, allowed users to look for FAQs, book tickets, get live scores, trivia, players and match info and opinions among other things.

Haptik, Akosha and Amazon Pay

In 2015, Haptik accused Akosha, then, an online consumer forum of cloning Haptik’s app. Akosha has since then rebranded to Helchat and now to Tapzo, which Amazon acquired in August last year. Amazon reportedly paid $30-45 million in a cash-and-stock deal for Tapzo which aggregates around 40 apps into a single app. Tapzo’s co-founders Ankur Singla and Vishal Pal Chaudhary joined Amazon Pay following the acquisition.

Jio’s telecom metrics

Reliance Jio had 280 million subscribers as of January, up from 160 million subscribers a year ago. Reliance Jio recorded a standalone net profit of Rs 831 crore for the quarter ended December 2018. It had said that its 4G LTE network coverage of “99% of population” would be completed in the next few months.

Advertisement. Scroll to continue reading.

Written By

I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.

News

Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

News

This article addresses the legal and practical ambiguities in understanding the complex crypto ecosystem in India.

News

It is widely argued that the PDP Bill report seeks to discard the intermediary status of social media platforms but that may not be...

News

Looking at the definition of health data, it is difficult to verify whether health IDs are covered by the Bill.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ