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What Jio and Facebook deal means?
Experts have said the arrangement among Reliance Retail, Jio Platforms and Facebook-owned WhatsApp to offer consumers the ability to access the nearest kiranas, or grocery stores, which can provide products and services to their homes by transacting with JioMart using WhatsApp, has come at a very opportune time.
Why is everyone 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.
Who is world rich man name?
THE REAL-TIME BILLIONAIRES LIST
rank | name | Net Worth |
---|---|---|
1 | Elon Musk | $251.9 B |
2 | Jeff Bezos | $195.0 B |
3 | Bernard Arnault & family | $191.1 B |
4 | Bill Gates | $137.0 B |
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.
How did Reliance Jio become the largest online market?
Then, Reliance Jio happened. It launched with data rates so low that they became the industry standard in one of the largest online markets in the world. Jio alone helped bring 388 million users online, well over a third of what Facebook had planned.
Will Jio and Facebook’s open ecosystem work together?
“There will be areas that we will collaborate in but there will be areas where we will potentially not agree with each other,” a Jio official said. Facebook, on the other hand, maintained its stance in favour of an open ecosystem for data to flow across boundaries.
What is the impact of Jio on India?
This investment underscores our commitment to India, and our excitement for the dramatic transformation that Jio has spurred in the country. In less than four years, Jio has brought more than 388 million people online, fueling the creation of innovative new enterprises and connecting people in new ways.