Why did Facebook 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.
Did Mark Zuckerberg invested 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). … Zuckerberg and Ambani were speaking at the Facebook Fuel for India 2020 event.
Why investors are investing 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.
What has Ambani invested?
Billionaire Mukesh Ambani on Thursday announced a ₹75,000 crore investment in setting up four ‘Giga’ factories to make solar photovoltaic cells, green hydrogen, batteries and fuel cells over the next three years.
How many TV channels Ambani own?
It operates 2 national general news channels and 14 regional general news channels in several languages under the brand of News18.
Is Facebook investing in Jio?
Jio Platforms, the digital arm of Mukesh Ambani-led Reliance Industries, said that it has received the subscription amount of Rs 43,574 crore from Facebook. The social media giant had pledged this amount in April to buy 9.99 per cent stake in the Indian company.
What is India’s 2020 fuel?
We are excited to bring you the first edition of Facebook Fuel for India on December 15-16, a two-day virtual event that will celebrate stories of hope, passion, and resolve. Stories unique to India that have inspired us as a company.
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?
Microsoft, the world’s most valuable company, is reportedly mulling over investing $2 billion in Mukesh Ambani’s Reliance Jio for a 2.5% stake. The two companies already have a partnership in place with Microsoft’s cloud solution, Azure, hosting Reliance Jio’s data on its servers in India.
Why is Jio raising so much money?
First, it’s a part of RIL, the largest company in India. Second, Jio is the market leader and making profits. It makes abundant business sense to invest in Jio and make profits before the company gets listed on the stock market a few years from now.