Mukesh Ambani-led Reliance Industries Ltd said about the deal that it is the largest FDI in India’s technology sector. Apart from this deal, Reliance Retail and Facebook-owned WhatsApp have also decided to partner in the retail business.
Facebook has decided to buy a 10 percent stake in the country’s telecom giant Reliance Jio. The social media company will buy this stake in Jio by spending an amount of Rs 43,574 crore. According to analysts, this deal can be useful for both companies. On the one hand, Facebook will be helped to build its base in India, in which the user base is continuously increasing, on the other hand Reliance Jio will be helped to deal with the debt through this deal. Mukesh Ambani-led Reliance Industries Ltd said about the deal that it is the largest FDI in India’s technology sector. Apart from this deal, Reliance Retail and Facebook-owned WhatsApp have also decided to partner in the retail business.
Even though this time Facebook has bought its stake in Reliance Jio, but before that, Jio itself has made a big investment in many companies and has acquired them in a way. Let us know which companies Reliance Jio has invested so far…
Haptic: Reliance Jio has invested Rs 700 crore in Haptic last year. The company has bought an 87 percent stake in it. Haptic works in the field of Artificial Intelligence. Reliance Jio is looking to compete with Amazon Alexa, Microsoft Cortana and Google Assistant with the help of Haptic.
Saavn App: Reliance Jio bought music streaming app Saavn in 2018. The company has currently integrated it with Jio Music. Jio has invested 720 crores in this company. The company plans to compete with Gaana, Spotify, Amazon Music and Apple Music through this app.
DEN, Datacom and Hathaway: Reliance Jio took a 66 per cent stake in DEN Networks with a whopping investment of Rs 2,045 crore. Apart from this, the company had invested Rs 2,940 crore in Hathway Cables & Datacom.
