Reliance Retail, a consumer goods outlet, has acquired a majority stake in Just Dial, an local search company, for $469M at a $700M valuation.

WHO ARE THE PARTIES TO THE DEAL?

  • Just Dial: India-based Just Dial offers B2C and B2B listings of SMB advertisers in India. The company has 3.4M listings and more than 129.1M quarterly unique users as of Q1’21. It recently launched JD Mart, a B2B marketplace. 
  • Reliance Retail: India-based Reliance Retail is a subsidiary of Reliance industries that sells food, groceries, electronics, and apparel on its marketplace. The company reported a consolidated turnover of $21.6B and a net profit of $750M for the year ended March 31, 2021. 

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The post Reliance Retail Acquired A 41% Stake In This India-Based Search Engine appeared first on CB Insights Research.

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