Reliance Jio has been climbing the success ladder as many big investors have invested in it. Now one more name has added to the list and that is – Qualcomm. Qualcomm has invested $97 million in Mukesh Ambani’s Reliance Jio.
Within just a 3 months India’s Reliance Jio has raised more than $15.7 billion from many investors. On Sunday evening, Qualcomm has declared that for 0.15% equity stakes it is investing $97 billion in India’s biggest telecom operator company Reliance Jio. Qualcomm has claimed that this investment will help Reliance Jio to pop-up the 5G foundations and offer more services to Indian customers.
A four-year-old company Reliance Jio has completely changed India’s telecom market. In less than 4 years Reliance Jio has crossed the 400 million customers and become the prime carrier across the world’s second-biggest internet market. Chief Executive of Qualcomm, Steve Mollenkopf, has stated that he and his organization believe that Reliance JIO will offer the latest set of services and expertise to Indian users in the coming future. Reliance JIO will provide the unexpected fastest speed ever, and 5G technology will surely revolutionize every business in the future. The digital revolution in India has been led by the Reliance JIO by its unmatched innovative digital and technological inclinations. We’re looking forward to the JIO’s foresight to revolutionize India’s digital eco-system once again.
Jio Dominating other Firms in Today’s Time
Jio is one of the most reliable and trusted digital organization in today’s date. Jio has been attracting big investors to themselves because Jio has recently sold its 25% of its stakes to foreign investors. Till now, Jio is taking investments from big tech champs like Intel, Facebook, and now Qualcomm.
This is the seventh deal of this year for Mukesh Ambani’s Reliance JIO till now. So far now, prior to this, Abu-Dhabi’s sovereign Mubadala. had invested $1.2 billion for 1.85% stakes in the Reliance Jio. The past few months have been a great time for Mukesh Ambani as he got a chance to boost its firm and take it on up to another level of success. On one side, where the economy of India has been occurring low due to coronavirus pandemic, the JIO has constantly got new investments to boost-up the digital economy of India. Up till now, Facebook, Silver Lake, Vista, General Atlantic, KKR, Mubadala, and the latest one Qualcomm have invested in India’s Reliance Jio.
Mukesh Ambani has gained a ton of respect and trust from the big investors across the world, still receiving. When it was asked to investors, why they are investing millions or billions of dollars to India’s Reliance Jio? Then, they replied that this will boosts the digital economy of India and JIO is the largest telecom operator in India.
Reliance Jio is a subsidiary company of reliance industries. Jio currently providing various digital services like music, streaming, games, and the latest video conferencing service. And Jio is all set to execute new plans with 5G technology and other ideas which the companies executive has in their mind. So, let’s be patient and see what Mukesh Ambani has in their pockets.