Jio-Facebook Deal 2020 | 43,574 crore deal in both

Jio-Facebook Deal 2020 | 43,574 crore deal in both

Jio-Facebook Deal 2020 - An agreement has been reached between Reliance Industries Limited (RIL), Jio Platforms Limited and Facebook on Wednesday, during which Facebook goes to form an enormous investment in Jio. it's reported that Facebook has announced to shop for a 9.99 percent stake in Reliance jio. this is often the most important news within the world at the time of Corona. The social media giant will invest around Rs 43574 crore within the Mukesh Ambani-owned company under the deal. this is often the most important foreign direct investment in India's technical business. With this deal, Facebook has become the most important shareholder company of Reliance jio.

Let us know that Reliance Jio was launched within the year 2016. Jio emerged because the largest telecom company within the country, and it quickly gained an edge within the market. Reliance expanded not only telecom but also broadband to e-commerce. Talking about Facebook, the corporate has 400 million users in India alone. By 2020, the number of internet users in India are going to be 850 million. Facebook has said that it'll specialize in a synergy between its messaging platform WhatsApp and Reliance's e-commerce venture Jio Mart. consistent with him, the aim of this exercise is to attach small businessmen.

Jio-Facebook Deal 2020 | Raj Malhotra

Company promoter Mukesh Ambani has said that he's confident of the Indian economy recovering within the shortest time following the Coronavirus crisis and his partnership with Facebook will contribute significantly to the present change. On the opposite hand, Facebook has said during a separate statement that this decision shows its commitment to India. India is Facebook's largest market where quite 32 crore people use its service.

Facebook has said that the way Jio has brought tremendous enthusiasm in India, then our investment in Jio reflects our confidence in India. Jio has reached 388 million people in only four years, which has opened new avenues of business and connectivity.

The deal has been announced at a time when WhatsApp has received approval for Digital payment service in India. Players like Google Pay and Paytm are already active during this area. Whatsapp has around 400 million users in India and quite 80 percent of smartphone users use it. By 2020, the number of internet users in India are going to be 850 million.

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Raj Malhotra