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The largest Social media platforms in the world, Facebook, has picked up a 9.99% stake in Mukesh Ambani's Jio platform. Mark Zuckerberg's Facebook is spending Rs. 43,574 crore ($5.7 billion) to buy this stake. The valuation of the Jio platform now stands at over $65.95 billion (around 4.62 Lac Crore). It is not only the largest Foreign Direct Investment (FDI) in the technology sector but also the largest FDI for a minority investment in India.
"There's a lot going on in the world right now, but I wanted to share an update on our work in India. Facebook is teaming up with Jio Platforms -- we're making a financial investment, and more than that, we're committing to work together on some major projects that will open up commerce opportunities for people across India," Said Mark Zuckerberg.
Source: Facebook post of Mark Zuckerberg
He further added that India is home to the largest communities on Facebook and WhatsApp, and a lot of talented entrepreneurs. The country is in the middle of a major digital transformation, and organizations like Jio have played a big part in getting hundreds of millions of Indian people and small businesses online.
Key Takeaways from This Investment
Reliance Jio is a wholesome subsidiary of Mukesh Ambani's Reliance Industries Ltd. The Jio network has substantially grown within just four years of its launch. Today, Jio has more than 388 million customers in India.
Under the Jio Platforms, the online groceries delivery platform JioMart will get the maximum benefit out of this investment.
For Reliance Jio
The deal with Facebook will give impetus to RIL's goal to cut net debt to zero by March 2021. Also, Facebook's popular platform WhatsApp, will help JioMart to bring local vendors, independent hawkers, and small Kirana stores online.
The JioMart works on the model to connect consumers with the local vendors and small Kirana businesses. After the deal, the local Grocery stores or vendors can register on JioMart, the online grocery delivery platform. They would receive orders from the consumers through WhatsApp. This will be a big step in helping the already struggling local vendors to survive.
All of us at Reliance are humbled by the opportunity to welcome Facebook as our long-term partner in continuing to grow and transform the digital ecosystem of India for the benefit of all Indians.
The synergy between Jio and Facebook will help realise Prime Minister Shri Narendra Modi's 'Digital India' Mission with its two ambitious goals — 'Ease of Living' and 'Ease of Doing Business' – for every single category of Indian people without exception. In the post-Corona era, I am confident of India's economic recovery and resurgence in the shortest period of time. The partnership will surely make an important contribution to this transformation- said Mukesh Ambani
For Facebook:
After this deal, Facebook becomes the largest minority shareholder in Reliance Jio. Further, Facebook will get access to Reliance Jio's 388 million customers.
India has always been a valuable market for Facebook. It tops the list of users for Facebook. Its WhatsApp chat service, which is about to launch a payments service, has attracted 340 million users.
Conclusion
This deal is expected to play a crucial role in the post COVID-19 Indian economy. The partnership of these two giants is believed to garner opportunities for 60 million small businesses across India. Further, it will be a crucial step to grow the digital economy of the country.
TGood news for the Indian mobile phone users. Over 50 crore population in India is using a basic feature phone. The large population of India feels that they cannot afford the smart phones which are priced over 4000. Keeping this in mind the Reliance Industries chairman Mukesh Ambani on 21st July on the occasion of 40th AGM announced great offers for the Relaince Jio consumers. "Today, I am delighted to announce that JioPhone will be available to all Indians for an effective price of - Rs 0," said Mukesh Ambani amid thunderous applause from the shareholders. "A JioPhone user can use the JioPhone for 36 months, and can get a full refund of the security deposit of Rs 1,500 by returning the used JioPhone. Net-net, you pay nothing for the JioPhone," he added.
Mukesh Ambani promised that he will never charge for the voice calls and it will remain free of cost for ever. The only cost will be for 4g data whiich again is very low when compared with other service providers like Airtel, Vodafone, Idea etc. The most importany announcement made by Mukesh Ambani was about the Smart phone for all. Now you can get Relaince 4g phone for free. What do you want to do to get a Relaince 4g phone for free? Yes you will get Relaince Jio Smart 4g Phone for free with Relaince Jio SIM What you have to do is just need to deposit Rupees 1500 as a refundable security and get the phone for free. Relance Jio phone comes with great features and it is much much better than the feature phones. You will have complete access to internet via 4g and can get in touch with the digital world. RELIANCE JIO CABLE TV The Reliance Jio phone also comes with a unique feature where you can watch your favourite videos on your TV. You can connect you Relaince Jio phone with any TV and use the services for 3-4 hours every day by paying a nominal charge per month. The company has launched a device called Jio phone Cable TV that connects JioPhone with any TV, not just a smart TV, so that all JioPhone users can enjoy viewing on the big screen of their existing television sets
Yes you will pay 1500 as a refundable security amount to get the relaince Jio Phone for free. After using your phone for 36 months you can get back your security amount by depositing your Reliance Jio phone
You would be wondering when can you get you Reliance JIO free phone. So don't worry the Reliance JIO free phone will be launched on August 15th our Independence Day. But you need to pre-book your Reliance Jio phone, The reliance Jio free phone Pre bookings start on 24th August 2017. The phone will be made available on September 2017. So get set go now. Pre book your Free Reliance Jio phone and enjoy free unlimited calls messages and data for as less as Rupees 153 per month. Weekly tariffs also available. Jio has also announced two recharge packs - one costing Rs 54 that offers a week's validity while another comes with validity of two days and is priced at Rs 24.
WILL WHATSAPP, FACEBOOK, TWITTER WORK ON RELIANCE JIO PHONE?
