Why is everyone investing in Jio?

Why so much investment in Jio?

Social distancing has meant increased usage of technology and digital solutions, which is driving investors towards tech companies. RIL has tapped into this heightened interest for technology investments by positioning Jio as a digital platform company.

Who is going to invest in Jio?

Jio Platforms (JPL), the digital unit of Reliance Industries (RIL), has agreed to invest $200 million (about Rs 1,500 crore) for a roughly 17% stake in Google-backed consumer internet company Glance, which allows users to consume personalized content even with a locked smartphone screen.

Why is Jio growing?

A blend of recent tariff hikes, further reduction of low-paying customers and robust growth in its home broadband user base boosted Reliance Jio Infocomm’s average revenue per user (ARPU) in the December quarter, a trend that is likely to continue given that the full impact of the rate increases will play out over the …

Did Mark Zuckerberg invest in Jio?

In April 2020, Facebook purchased a 9.9 percent stake in RIL’s telecom unit Jio for $5.7 billion (Rs 43,574 crore).

THIS IS IMPORTANT:  How do I stop Internet sharing?

How much is Ambani in debt?

Anil Ambani’s Reliance debt rises to Rs 20,380 crore; owes money to HDFC, Axis bank. The total debt, including interest, stood at Rs 19,805.7 crore on August 31, 2020.

Did Microsoft invest in Jio?

In February, Microsoft’s chief executive Satya Nadella said the company has forged a partnership with Reliance Jio. As part of the deal, Reliance Jio plans to set up data centres across the country and use Microsoft Azure’s cloud services for enterprise clients.

How much did Reliance invest in Jio?

Jio Platforms (JPL), the digital unit of Reliance Industries (RIL), has agreed to invest $200 million (about Rs 1,500 crore) for a roughly 17% stake in Google-backed consumer internet company Glance, which allows users to consume personalized content even with a locked smartphone screen.

Is Google investing in India?

New Delhi: Bharti Airtel on Friday announced that Google will invest up to $1 billion in the telecom major as part of its Google for India Digitization Fund. The deal includes Google investing $700 million to acquire 1.28% ownership in Airtel and up to $300 million towards potential multi-year commercial agreements.

What is Mukesh Ambani net worth?

Jio soft launched on 27 December 2015 with a beta for partners and employees, and became publicly available on 5 September 2016. It is the largest mobile network operator in India and the third largest mobile network operator in the world with over 42.62 crore (426.2 million) subscribers.

Is Reliance Jio making money?

As of 2020, Reliance Jio raised its funds by selling around 33% equity stake in Jio Partner, worth Rs. 1.65 lakh crore that is, US$23 billion.

THIS IS IMPORTANT:  Can I create my own index fund?

How many Jio users are there in India?

In terms of wireless subscriber base, Jio continues to remain on top with 415.71 million subscribers, followed by Bharti Airtel with 355.76 million and Vodafone Idea with 265.51 million. Get live Share Market updates and latest India News and business news on Financial Express.

Why is Facebook investing 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.

Is Google investing in Airtel?

Google will invest up to $1 billion in Bharti Airtel through a mix of equity and commercial partnerships in areas like affordable smartphones, networks, and cloud.

Who is partner of Facebook in India?

Small businesses and supporting them is a key focus of Facebook and Reliance Jio’s partnership in India, according to Mark Zuckerberg, who spoke at the company’s ‘Facebook Fuel for India’ event. Zuckerberg made the comments in a conversation with Reliance Industries Limited (RIL) Chairman Mukesh Ambani.