Table of Contents
Why did Ambani launch Jio?
In September 2016, Mukesh Ambani, Asia’s richest man, launched his newest venture, a 4G mobile network. In the 90-minute presentation, Ambani promised that his new telecoms business, Reliance Jio, would alter the future of the country’s internet. “India and Indians cannot afford to be left behind,” he said.
Why do you think Facebook invested in Jio explain?
With Jio having ambitions to take on Amazon in e-commerce, provide fiber net, run data centers and set up new services like telehealth and distance learning, the investment from Facebook will greatly help Reliance. This investment will help the company reduce the debt and invest further in its network.
Is Facebook a partner of Jio?
In April, Facebook bought a 9.99\% stake in Reliance-owned Jio Platforms for $5.7 billion, or Rs 43,574 crore.
What is the deal between Reliance 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. …
Why do people invest in Jio Platforms?
Jio Platforms is no ordinary company. First, it’s a part of RIL, the largest company in India. Second, Jio is the market leader and making profits. It makes abundant business sense to invest in Jio and make profits before the company gets listed on the stock market a few years from now.
What is Facebook’s stake in Reliance Jio?
Facebook had announced this week that it had invested $5.7 billion for a 9.99\% stake in Reliance Jio Platforms. This deal makes the social media giant the largest minority shareholder in the Indian telecom network.
Now they use Facebook, Instagram and WhatsApp to reach new customers. 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.
What does Facebook’s Jio deal mean for India?
The investment—the single largest in Facebook’s history—is a giant bet on India’s online growth. The deal could also speed up Jio’s evolution from a cellular internet service to a broader one-stop digital universe—perhaps something like China’s WeChat.
How is reliance jiomart different from Facebook?
Firstly, Facebook, which includes WhatsApp and Instagram, caters to about 400 million users. Reliance Jio also has about the same number of clients, with some overlap. But since JioMart has been formed by RIL, the company is planning to enter in a big way to start the e-commerce business and e-payment services.