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What is the deal between Jio and Facebook?
In a statement on Wednesday, the Competition Commission of India said it had approved Facebook’s proposed multi-billion-dollar investment in Jio Platforms for a 9.99\% stake in the top Indian telecom network. …
What is Ambani deal with Facebook?
On April 22, the billionaire inked a deal with the world’s biggest social media platform Facebook coming on board to invest Rs 43,574 crore in Jio Platforms, a unit of Reliance Industries, for a 9.99\% stake.
Did Mark Zuckerberg invest in Jio?
In April 2020, Facebook purchased a 9.9 percent stake in RIL’s telecom unit Jio for $5.7 billion (Rs 43,574 crore). Zuckerberg and Ambani were speaking at the Facebook Fuel for India 2020 event.
Is Jio partnership with Facebook?
In April, Facebook bought a 9.99\% stake in Reliance-owned Jio Platforms for $5.7 billion, or Rs 43,574 crore. At $35.73 billion (over Rs 26.31 lakh crore), India received the highest-ever total foreign direct investment in the April-August period, government data showed in October.
Did Ambani invest in Facebook?
Mukesh Ambani gave Google and Facebook a discount on Reliance Jio stake — here’s why. Google’s $4.5 billion cheque and Facebook’s $5.7 billion investment were a cheaper deal than the rest.
Who all invested in 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.
When did Facebook invest in Jio?
On April 22, Facebook said it will invest Rs 43,574 crore in Jio Platforms for a 9.99\% stake in an all-cash deal that will help the oil-to-retail conglomerate reduce debt and strengthen the social media company’s presence in its largest market, especially for its WhatsApp unit.
Is Jio Mart available in Nagpur?
Jio Store – AVN Tower, Manewada, Nagpur Mon-Sun : 10:00 AM. – 10:00 PM.
Why did FB invest in Jio?
On April 22, Facebook said it will invest Rs 43,574 crore in Jio Platforms for a 9.99\% stake in an all-cash deal that will help the oil-to-retail conglomerate reduce debt and strengthen the social media company’s presence in its largest market, especially for its WhatsApp unit. Ltd (RIL) pare debt.
What does Facebook’s deal with Reliance mean for Jio platforms?
Prior to Jio Platforms, Facebook had invested around $20-25 million in social commerce platform Meesho in 2019, and participated in a $110 million funding round for edu-tech company Unacademy earlier this year. The deal with Reliance also gives Facebook access to the latter’s bouquet of digital apps.
Why is Facebook investing in Jio?
The investment in Jio is one of the biggest investments Facebook can make, according to Bernstein, and could help the Silicon Valley firm experiment with something akin to WeChat, the popular messaging app in China that is used for everything from booking doctor’s appointments to making digital payments.
What are Jio platforms and Jio apps?
Apps where users can stream movies, shop online and read news also fall under Jio Platforms. The tie-up includes a commercial partnership with WhatsApp that potentially paves the way for Facebook to make money from the messaging service’s 400 million users in India. The partnership comes at a key time for tech in India.
What is the Reliance Jio price war all about?
(AT is the parent company of WarnerMedia, which owns CNN.) The billionaire launched Reliance Jio in September 2016 with an irresistible inaugural offer: New customers received six months of free 4G high-speed internet. That triggered a price war, forcing other mobile providers to dramatically slash rates