Tag: reliance jio
JioMart, the e-commerce venture from India’s richest man, launches in additional cities
The rationale behind the deluge of dollars flooding into billionaire Mukesh Ambani’s Reliance Jio Platforms is beginning to become more clear as his e-commerce venture JioMart starts rolling out to more people across India. An e-commerce venture between the nation’s top telecom operator Jio Platforms and top retail chain Jio…
Read More
KKR to invest $1.5 billion in India’s Reliance Jio Platforms
Mukesh Ambani’s Reliance Jio Platforms has agreed to sell 2.32% stake to U.S. equity firm KKR in what is the fifth major investment in the top Indian telecom firm in just as many weeks. On Friday, KKR announced it will invest $1.5 billion in the Indian top telecom operator, a…
Read More
Vista Equity Partners to invest $1.5B in Indian telecom giant Reliance Jio Platforms
Private equity firm Vista Equity Partners said on Friday it would invest $1.5 billion in Reliance Jio Platforms joining social conglomerate Facebook and private equity firm Silver Lake that have also made similar bets on the Indian telecom giant in recent weeks. The planned announcement, which would give U.S.-headquartered software-focused buyout…
Read More
Reliance and Facebook pilot JioMart orders on WhatsApp
JioMart, an e-commerce venture run by India’s most valued firm, is testing an “ordering system” on WhatsApp, giving us the first peek at the collaboration between Facebook and Indian telecom giant Reliance Jio Platforms. Users in Navi Mumbai, Thane and Kalyan, three cities in Indian state Maharashtra, can use JioMart’s…
Read More
Facebook’s $5.7 billion bet on Indian giant Jio spells trouble for Amazon and Flipkart
Facebook’s major bet on Jio Platforms could create a headache for mobile payments services that have amassed tens of millions of users while struggling to find a business model in the world’s second-largest internet market. The $5.7 billion investment, Facebook’s second-largest to date, could also further its dominance in India…
Read More
Daily Crunch: Facebook makes a big bet in India
Facebook makes a $5.7 billion investment in Reliance Jio, Netflix’s latest quarter was even better than expected and Patreon lays off 30 employees. Here’s your Daily Crunch for April 22, 2020. (And happy Earth Day!) 1. Facebook invests $5.7B in India’s Reliance Jio As China’s fast-growing ByteDance (owner of TikTok)…
Read More