The social giant said the investment marks its “commitment to India”, where it will focus on collaborating with Jio to create “new ways for people and businesses to operate more effectively in the growing digital economy.” This is the largest investment for a minority stake by a technology company anywhere in the world …
Why 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.
Why did Jio get invested?
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.
Did Ambani buy 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. Both the deals had a different equity valuation for Jio than the other financial investors who also paid a 12.5% premium.
How much should I invest in Jio?
Reliance Jio has received a flood of investment in recent months. It has raised a total of Rs 1.52 lakh crore by selling almost 33 per cent stake to 13 financial and strategic investors in only 11 weeks, helping to cut down RIL’s net debt target for the full fiscal year.
Is Jio really profitable?
The company posted a net profit of Rs 3,508 crore, as compared to Rs 2,379 crore in the same period last year. Jio also posted an average revenue per user (ARPU) during the quarter of Rs 138.2 per subscriber per month. … The consolidated revenue from operations stood at Rs 18,278 crore, Jio said in a press release.
How did Mukesh Ambani start Jio?
From oil to mobile internet. Jio’s parent company, Reliance, was founded by Dhirubhai Ambani in 1966 as a trading business. Ambani started out trading synthetic yarns, which were in high demand due to the lack of industrial capacity in the country to produce synthetic fabric.
How much of Jio does Ambani own?
|Jio headquarters in Mumbai|
|Key people||Anant Ambani (Director)|
|Products||Telecommunications E-commerce Entertainment Retail|
|Owners||Reliance Industries (67.03%) Strategic investors (18.26%) Private equity firms (9.38%) Sovereign wealth funds (5.33%)|
How much stake Mukesh Ambani has in reliance?
|Net income||₹53,223 crore (US$7.5 billion) (2021)|
|Total assets||₹1,321,212 crore (US$190 billion) (2021)|
|Total equity||₹693,000 crore (US$97 billion) (2021)|
|Owner||Mukesh Ambani (50.54%)|