MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

Facebook to invest Rs 43,574 crore in Mukesh Ambani’s Reliance Jio for 10% equity stake

Facebook to invest Rs 43,574 crore in Mukesh Ambani’s Reliance Jio for 10% equity stake

Mark Zuckerberg has made a deal to buy a 9.99 percent equity stake in Mukesh Ambani’s Reliance JIO for about Rs 43,574 crores. With this deal, Facebook hopes to gain traction in the small and medium business market in India along with the farming industry.

This is the largest investment for a minority stake by a technological company all around the world along with the largest FDI in the technology sector in India, according to the statement issued. The deal has valued Reliance JIO as one of the largest firms in India by market capitalization. “Our goal with this investment is to enable new opportunities for businesses of all sizes, but especially for small businesses across India and create new and exciting digital ecosystems that will empower, enrich, and uplift the lives of all 1.3 billion Indians,” Reliance JIO said.

Facebook and Reliance JIO have also made a deal to let Reliance Retail use WhatsApp as part of its New Commerce business. “Jio platforms, Reliance Retail and WhatsApp have also entered into a commercial partnership agreement to further accelerate Reliance Retail’s New Commerce business on the JioMart platform using WhatsApp and to support small businesses on WhatsApp,” the statement said. “

The companies will work closely to ensure that consumers are able to access the nearest kiranas who can provide products and services to their homes by transacting seamlessly with JioMart using WhatsApp.”

YOU MAY ALSO LIKE

Marketing Partnership: NBA, McDonald’s Will Jointly open NBA Experience Zones India

There is good news for all basketball fans in India. Very soon, NBA themed promotions and experience zones will be launched in India. The announcement...

Dunzo to Raise Funds from Google, others

Dunzo, the app which is trying to make life easier for the people upto some extent plans to raise about Rs. 183 crore from different investors which a...

Sapta Shakti Command Will Be Displaying Defence Technology Equipment at Jaipur Military Station

This event is organised with an aim to provide an opportunity where one and all can experience the developments in the field of defence and security-r...

Samsung is All Set to Roll out Its Galaxy A9 Smartphone On November 20

After Samsung unveiled its new Galaxy A9 smartphone in Singapore last month, the company is all set to launch it in India on November 20. In Singapore...

RECOMMENDED