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How Facebook will benefit from Jio?
The recent partnership between Reliance Jio and Facebook will give huge business benefits for India’s small businesses and kirana-stores through Jio-Mart’s hyperlocal offering, giving them access to a digitalised ecosystem.
Who are the investors in Reliance Jio?
In all, Jio Platforms has raised capital from thirteen investors, including Facebook, Google, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, Public Investment Fund of Saudi Arabia, Intel Capital and Qualcomm Ventures, for a total consideration of 32.9 per cent stake.
Why investors are investing in Jio?
Social distancing has meant increased usage of technology and digital solutions, which is driving investors towards tech companies. RIL has tapped into this heightened interest for technology investments by positioning Jio as a digital platform company.
How does the strategic alliance with Reliance Jio benefit Facebook?
In April 2020, Facebook and Reliance Jio announced a multi-billion dollar deal where Facebook agreed to pick up nearly 10\% stake in Jio for Rs 43,574 crore. The Jio-Facebook deal may mark a change in consumer behaviour, and the whole industry will benefit from this, Vijay Shekhar Sharma told CNBC TV-18.
Did Ambani buy Facebook?
Facebook, on Wednesday, announced a Rs 43,574 crore ($5.7 billion) investment in Mukesh Ambani-led Jio Platforms Limited. With the investment, Facebook will hold a 9.99 per cent stake in Jio Platforms and will be the largest minority shareholder.
Is Facebook debt Free?
2. Facebook Social-media giant Facebook doesn’t have any long-term debt on its books. The business has current assets of more than $77 billion that could easily cover all of its liabilities, which total $30 billion.
Why did Google and Facebook invest in Jio?
Primarily, Google hoped to use its investment in Jio to bring smartphones to more users in India, and it hopes that through this partnership with Jio, which reportedly has about 400 million users, will help its efforts.
Does Ambani have shares in Facebook?
Why is Facebook investing in Jio platforms?
Today we are announcing a $5.7 billion, or INR 43,574 crore, investment in Jio Platforms Limited, part of Reliance Industries Limited, making Facebook its largest minority shareholder. This investment underscores our commitment to India, and our excitement for the dramatic transformation that Jio has spurred in the country.
Is Jio owned by Reliance Industries?
Jio Platforms is a subsidiary of Reliance Industries, one of India’s biggest multinational companies and a major provider of cellular and internet services in the country. The investment, which requires approval from competition regulators, would give Facebook a 9.99 percent stake in Jio Platforms, Jio said.
Why did Reliance Industries buy Facebook for $15 billion?
The money from Facebook will help Reliance reduce some of that debt and invest further in its network, which it needs to do after regulators delayed approval of a high-profile $15 billion deal to sell 25 percent of its energy business to the Saudis.
What does the Facebook-Jio deal mean for India’s data localization plans?
If approved by regulators, the Facebook-Jio deal suggests that India’s data localization plans may not be absolute. It also suggests that Western tech behemoths will continue to have an important stake in India’s future. The timing of Facebook’s investment, while likely long in the works, may also be telling.