Primarily, Google hoped to use its investment in Jio to bring smartphones to more users in India, and it hopes that through this partnership with Jio, which reportedly has about 400 million users, will help its efforts.
Has Google invested in Jio?
Alphabet Inc’s Google has paid ₹33,737 crore to Reliance Industries Ltd’s (RIL) digital subsidiary, Jio Platforms Ltd, joining the list of global investors such as Facebook to have infused capital in the Mukesh Ambani-led company. With this transaction, Google now holds 7.73% stake in Jio Platforms.
What is the deal between Jio and Google?
Mukesh Ambani, during the Reliance Industries Annual General Meeting on July 15 announced that Google would invest Rs 33,737 crore in Jio Platforms. … We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crore for a 7.7% stake in Jio Platforms,” he had said.
What did Google just put 4 billion into?
According to Bloomberg, Google is investing USD 4 billion in India’s Jio platforms, a subsidiary of conglomerate Reliance Group, to create affordable smartphones for the Indian market.
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.
Who has invested in Jio?
Before Retail Retail, RIL had raised about Rs 1.52 lakh crore for Jio Platforms from global investors, including Facebook, Google, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, Public Investment Fund of Saudi Arabia, Intel Capital and Qualcomm Ventures, for a total …
Is Jio sold to FB?
jio facebook deal: Facebook buys 9.99% stake in Reliance Jio for Rs 43,574 crore – The Economic Times.
What is Google investing in?
Expanding our data centers. In addition to Google offices, we’re investing in data center expansions in Nebraska, South Carolina, Virginia, Nevada and Texas. Our existing data center sites in Nebraska, Ohio, Texas and Nevada will be fully up and running in 2021.
Why did FB 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.
How much money has Jio raised?
As a result of Google’s investment, Jio Platforms has raised a total of Rs. 1,52,056 crores. Google is investing Rs. 33,737 crores in Jio Platforms for 7.7 percent stake, Reliance Industries Limited (RIL) announced on Wednesday.
Is Jio really profitable?
Reliance Jio has reported a profit decline of nearly 4% with net profit of ₹3,508 crore. … Jio also witnessed a major slump in average revenue per user (ARPU), which fell to ₹138.2, a decline of over 8%.
Why is Jio so cheap?
Originally Answered: Why is Jio so cheap? Soon it will increase price but still be cheaper due to usage of VOLTE technology. Other companies still use 3G/2G which is much costlier for them!
How much did Mukesh Ambani invested Jio?
Google’s $4.5 billion cheque and Facebook’s $5.7 billion investment were a cheaper deal than the rest.
Mukesh Ambani gave Google and Facebook a discount on Reliance Jio stake — here’s why.
|Investment in Jio||₹11,367 crore|
|Stake in Jio||2.32%|
|Equity value||₹4.91 lakh crore|