Due to this deal, the valuation of Jioreached at Rs 4.62 lakh crore. This valuation has calculated as 70 against the dollar. Therefor Facebook will become the largest minority shareholder in Jio after regulatory approval.
Worlds largest investment for a minority stake in a tech company by Facebook
The partnership between Facebook and Jio is important in many ways. This is the largest investment for a minority stake in a technology company. It is the largest FDI in the Indian technology sector. Jio’s market capitalization in Reliance industries is highest.
Also Read: Reliance Industries become 1st Indian company with 9 lakh crore market cap
Jio‘s network started in 2016 with 4G speed while other companies had a mix of 2G, 3G. This gave Reliance Jio and advantage to add a large market share in India.
Mark Zuckerberg work with Reliance Jio on another project for inclusive growth
Mark Zuckerberg said that there is a lot going on in the world at the moment. He wants to give an update on working in India. Apart from this, Facebook and Jio work together on other projects.
This will provide business opportunities to people in India. The country is in a phase of digital transformation and Jio has played an important role in it.
India’s dream of reaching the pinnacle of ‘digital world’ will come true with Facebook investment in Reliance Jio
Reliance Industries Limited chairman, Mukesh Ambani was very happy with this partnership. He said, “We had a dream when we started Jio in 2016.
It was a dream of India’s ‘Digital Sarvodaya’. It was an Indian dream where inclusive digital revolution can make every Indian’s life good. The complex ecosystem development and change in India, we welcome Facebook as our long-term partner.”
Facebook aims to have 34 million active users by 2020
Social media giant Facebook has set a target of 34 million monthly active users in India by 2020. Facebook will invest in Reliance Jio and help in achieving their monthly target.
As per the leading tech portal, Facebook had more than 28 crore monthly active users in 2018. Facebook has its headquartered in California, USA. They also operate platforms like Instagram, Messenger, WhatsApp, Watch, Portal, Oculus, Calibra.
