The Adani Group has officially shelved its ambitious consumer-facing super app, Adani One, launched in December 2022. Internal sources and a Bloomberg report indicate the decision stems from mounting financial losses and internal conflicts over the project’s scope and management
What Led to the Decision?
- Underwhelming User Growth: Despite projections to reach 500 million users by 2030, Adani One only accrued approximately 30 million users by early 2024
- Financial Losses: In the fiscal year ending March 2024, Adani One facilitated around ₹750 crore (~$90 million) in transactions, but operating losses and scaling costs overshadowed revenue
- Leadership Turnover: Chief Digital Officer Nitin Sethi resigned amid an internal probe into alleged mismanagement, along with several key team members, weakening the app’s strategic momentum
Strategic Recalibration in India’s Super App Race
Initially, Adani positioned Adani One to rival giants like Tata Neu and Reliance Jio, by offering integrated services including travel bookings, bill payments, airport services, and digital lending pilots. But internal disagreements and low traction forced leadership to reconsider this ambitious trajectory
Digital Strategy Pivot: Focus Continues Beyond Super App
Despite halting Adani One, the group continues to pursue digital financial services expansion. Plans remain underway for entry into UPI, credit cards, and integration with ONDC (Open Network for Digital Commerce) through partnerships and fintech collaborations. Lending pilots with NBFCs via Adani One were part of this effort before discontinuation Business Standard.
What It Means Going Forward
- Refined Focus: Adani will likely prioritize financial services and payments over integrated super app models.
- Leverage Asset Base: The conglomerate can still capitalize on its existing consumer touchpoints in airports, utilities, and hospitality to deliver digital services.
- Investment Reallocation: The cancellation frees up resources for more focused tech bets like fintech collaborations and AI initiatives.
Summary
Adani Group’s decision to discontinue its super app project, Adani One, underscores the difficulties of building a complex consumer ecosystem from scratch—particularly amid intense competition and ambitious growth targets. While the initiative recorded modest traction and GMV, structural mismanagement and financial strain led to its cancellation. Going forward, Adani appears poised to shift towards digital payments, lending, and partnerships instead of a fully integrated super app offering.
