Facebook buys 10% of Reliance jio stake for Rs 43,574 crores

Facebook will invest $5.7 billion in  Reliance Jio

Facebook buys 10% of Reliance jio stake  for Rs  43,574 crores

An US based company Facebook is going to invest into Jio Platforms  a unit of Reliance Industries of Rs 43,574 crores for 9.99% stake . Facebook has made an huge bet by investing into Jio platforms.

Jio variously operates mobile services, and online commerce platforms, Facebook's investment into Reliance Jio will give around 10% stake in the Reliance company. It will make Facebook largest minority shareholder. 

This deal will make Mukesh ambani- owned RIL reduce debt further allow Mark Zuckerberg company get a stronger with the US largest market. Both the companies said that they will work together on some of the major project that will open up commerce opportunities for people across India.

India is in the middle of digital transformation organization like Jio have played a big part in getting hundreds of millions of Indian people and small businesses online Facebook founder CEO  Mark Zuckerberg said in a post.

Facebook buys 10% of Reliance jio stake  for Rs  43,574 crores

According to Economic Times Facebook and Reliance will create An "Super App" like WeChat

According to the India's Economic times Report that Facebook and Reliance were planning to leverage WhatsApp and Jio service to create an "super app" which will WeChat style for India  WeChat has massive penetration in China with billions of users and many of the small business in China they are using it for small payments, promotion and communication.

In India the messaging services has 40 crores of users in India , reaching nearly 80 percent of smartphone users in the country. This deal will also help the social media giant leverage WhatsApp  to partner with Reliance's e-commerce marketplace Jiomart, that connect small business to the costumers.

Reliance Industries Limited, Jio Platforms Limited and Facebook Inc. today announced the signing agreement for an investments of Rs 43,574 crore by Facebook into oil platforms RIL said in statement on wednesday.

For further updates of this blog 

kindly subscribe to this blog 

Join our WhatsApp group for further updates here is the link -https://chat.whatsapp.com/GhOcNUM9SFN5ctEqGYJI1w