Facebook will invest ₹ 43,574 crore (approximately US$5.6 billion) in Jio Platforms, a subsidiary of Reliance Industries that includes digital apps, digital ecosystems and India’s leading mobile operator. The investment will give Facebook a 9.99% equity stake in Jio Platforms on a fully diluted basis.
Jio, which currently serves over 388 million subscribers, said its vision is to enable a Digital India for 1.3 billion Indians and Indian businesses, especially small merchants, micro-businesses and farmers.
India is home to some of Facebook’s most thriving communities on WhatsApp, Facebook, and Instagram.
The companies note that this is the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India. The investment values Jio Platforms amongst the top 5 listed companies in India by market capitalization, within just three and a half years of launch of commercial services, validating Reliance Industries’ capability in incubating and building disruptive next-generation businesses, while delivering market-defining shareholder value.
Concurrent with the investment, Jio Platforms, Reliance Retail Limited ( 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.
Jio, which currently serves over 388 million subscribers, said its vision is to enable a Digital India for 1.3 billion Indians and Indian businesses, especially small merchants, micro-businesses and farmers.
India is home to some of Facebook’s most thriving communities on WhatsApp, Facebook, and Instagram.
The companies note that this is the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India. The investment values Jio Platforms amongst the top 5 listed companies in India by market capitalization, within just three and a half years of launch of commercial services, validating Reliance Industries’ capability in incubating and building disruptive next-generation businesses, while delivering market-defining shareholder value.
Concurrent with the investment, Jio Platforms, Reliance Retail Limited ( 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.