Facebook’s smart plot on India’s Reliance Jio by investing $5.7B for a 9.99% stakes. This massive bet of Facebook on Reliance Jio gives almost 10% stakes in the company which is the largest minority stockholder.
Recently, Facebook’s first step took to India via Whatsapp, as India has the highest Whatsapp users around 400 million. Now, Facebook took another head to India by investing its almost 10% stakes in India’s well-known company Reliance Jio.
Reliance Jio is the most successful and valuable company all over India with having more than 370 million customers. It was launched 4 years ago, and now only in 4 years, it has become a nation’s huge profitability or productivity company. Reliance Jio also developed other services like broadband, online live television service “JIO TV”, payment service “Jio Service” and online music platform “JioSaavn”. By this deal, Facebook is the most comprehensive minority stockholders in the Indian telecom network.
Facebook says, “India is a great nation and we really love the way it is. For several years, we are investing in India to connect people and help them to raise their business in every possible way. We are so overwhelmed and super-excited for regarding this investment that will surely grow the small businesses and digital economy of India”.
Facebook and Jio Have Come-up Together
This collaboration indicates that they will work together to increase the digital economy of India. They will figure out some effective ways that will raise the digital economy of India. Well, this is the biggest investment by any tech company across the world.
In the blog post, Facebook says, “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. We are committed to connecting more people in India together with Jio.”
Basically, this investment has been accomplished with having single thought in mind to transform the economy of India into the digital path. “The aim of this partnership is to transform the digital economy of India. Mark Zuckerberg and I will work together to sharpen India’s digital economy to empower you, enhance you, build you,” Ambani said in a video message.
Mark Zuckerberg, co-founder, and CEO of Facebook said in the post, “This is especially important right now because small businesses are the core of every economy and they need our support. India has more than 60 million small businesses and millions of people rely on them for jobs. This is something we can help with — and that’s why we’re partnering with Jio to help people and businesses in India create new opportunities.”
This joint venture seems extremely interesting and will this partnership empower the digital economy. As Mark Zuckerberg and Mukesh Ambani, both said, this will surely enhance the digital economy of India. This collaboration will also enrich the small business and transform the complete view of the economy. By investing $5.7B, Facebook has become the biggest tech company that spends the largest stakes in the Indian telecommunication market. However, this mystery will be clear in the forthcoming months, what will they bring together to accelerate India’s digital ecosystem.