• About
  • Contact
Tuesday, April 13, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home News

Facebook Invests $5.7 bn In Reliance Jio Platforms For 9.9% Stake

Pritish raj by Pritish raj
April 22, 2020
in News, Tech
2 min read
0
Facebook Reliance Jio- Next Big Brand

Facebook Reliance Jio- Next Big Brand

Share on FacebookShare on Twitter
  • Facebook announces to invest in $5.7 billion in Reliance Jio Platforms making it the biggest FDI in India’s technology market.

Facebook has revealed the signing of agreements to invest $5.7 billion in the Reliance Jio Platforms of Mukesh Ambani.  It is the biggest FDI in India’s technology market.

Investment from Facebook would turn into a completely diluted 9.99 percent equity interest in Jio Platforms. Reliance Industries Limited’s wholly-owned subsidiary Jio Platforms provides Reliance Jio and other wireless applications. Reliance Jio Infocomm Limited provides more than 388 million customers with a communication platform

“India is a special country for us,”  Facebook said on Jio Deal. “Facebook has invested in India on the basis of a deep belief in India’s entrepreneurial potential and ability to help create a positive impact for Indians and Indian companies leveraging their multiple platforms. The Facebook-Jio relationship is, in many ways, groundbreaking. It is the biggest investment by a technology firm anywhere in the world for a minority stake and the biggest FDI in India’s technology market, “a press release said.

The investment ranks Jio Platforms by market capitalization among the top five listed companies in India, within just three and a half years of commercial services launch.

“With this investment, we aim to create new opportunities for businesses of all sizes, but especially for small businesses across India, and to build new and exciting digital ecosystems that will inspire, enrich and uplift the lives of all 1.3 billion Indians. This partnership would speed up the all-round growth of India, fulfilling the needs of the Indian people and the Indian economy, “Reliance said in a statement.

“We will concentrate on India’s 60 million micro, small and medium-sized enterprises, 120 million farmers, 30 million small businesses and millions of small and medium-sized enterprises in the informal sector, in addition to empowering people seeking different digital services,” he added.

Around the same time as the investment, Jio Platforms, Reliance Retail Limited, and WhatsApp have signed a strategic collaboration agreement to further accelerate the New Commerce sector of Reliance Retail on the JioMart platform using WhatsApp and to help small businesses on WhatsApp.

The firms will work closely to ensure customers can reach the nearest Kirana who can deliver goods and services to their homes via seamless transactions with JioMart using WhatsApp.

Commenting on the partnership with Facebook, Reliance Industries Ltd., Chairman, and Managing Director Mukesh Ambani said, “All of us at Reliance are therefore humbled at the opportunity to welcome Facebook as our long-term partner in continuing to develop and transform India’s digital ecosystem for the benefit of all Indians.

The synergy between Jio and Facebook will help to realize the ‘Digital India’ project of Prime Minister Shri Narendra Modi with its two ambitious goals – ‘Ease of Living’ and ‘Ease of Doing Business’ – for every group of Indian citizens without exception.

The deal is subject to customary regulatory and other approvals. Morgan Stanley as Financial Consultant and AZB & Partners and Davis Polk & Wardwell as Transaction Advisors

Previous Post

RIL Loses 30,000 Crores Due To Crude Oil Price Slump In US

Next Post

Snapchat Has 229 Million Daily Active Users Now, Stocks Rise By 20%

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise
News

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise

April 12, 2021
Nykaa Acquires Jewellery Brand Pipa Bella
Industries

Nykaa Acquires Jewellery Brand Pipa Bella

April 12, 2021
Byju’s has Raised $1 Billion from B Capital, Baron, and XN: Reports
Internet

Byju’s has Raised $1 Billion from B Capital, Baron, and XN: Reports

April 11, 2021
Top 5 Made in India Short Video Apps Winning the Game in India
Case Study

Top 5 Made in India Short Video Apps Winning the Game in India

April 10, 2021
Jeff Bezos to Step Down as CEO of Amazon Later This Year
Industries

Here is the List of Top 10 Richest Persons in the World of 2021

April 9, 2021
Industries

Nike is the Undisputed King among Apparel Brands: Brand Finance Study

April 9, 2021
Next Post
snapchat users

Snapchat Has 229 Million Daily Active Users Now, Stocks Rise By 20%

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

reliance industries

Reliance is now the biggest company in India by revenue; overtakes IOC

2 years ago
Most valuable athletes - Next Big Brand

5 Most Valuable Athletes on Twitter Globally

1 year ago
altbalaji-zee5-next-big-brand

ALTBalaji & ZEE5 announce an unlikely content partnership for OTT Users

2 years ago
cognizant logo

Vodafone’s Brian Humphries to Head Cognizant as CEO

2 years ago

FOLLOW US

  • 33.5k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Urban Company is All Set to Join Unicorn Club with Latest Funding-raise
  • Nykaa Acquires Jewellery Brand Pipa Bella
  • Byju’s has Raised $1 Billion from B Capital, Baron, and XN: Reports

Instagram

Follow Me!

Latest News

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise

April 12, 2021
Nykaa Acquires Jewellery Brand Pipa Bella

Nykaa Acquires Jewellery Brand Pipa Bella

April 12, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.