So it's confirmed: Facebook has bought 9.9% stake in Jio Platforms Limited, the parent company of Reliance Jio Infocomm Limited, for $5.7 billion (Rs 43,574 crore). This makes Facebook the largest minority shareholder in Jio Platforms, and values Jio Platforms at $65.95 billion (Rs 4.62 lakh crore, pre-money). Reliance Industries had said last quarter, that it had invested about $21 billion (Rs 165,000 crore) in Jio Platforms Limited through Optionally Convertible Preference Shares (OCPS) and Rs 4,961 crore in equity shares. Jio Platforms Limited houses all of Reliance Industries' digital platforms. Facebook's investment in Jio is the single largest investment in India for a minority stake, and to further put things into context, WhatsApp, even then a popular emerging markets messaging company, was valued at $19 billion when Facebook bought it in 2014. The numbers Reliance Jio Infocomm: Over 388 million Internet connections in India, with over 300 million of them monthly active connections. Jio is India's largest Internet Service Provider, accounting for more than half of its over 635 million Internet connections. Subscriber ARPU of $1.67 (Rs 128.4) per month as of the quarter ending December 2019 Data Traffic of 1,208 crore GB in the quarter ending December 2019. Average data consumption per user per month: 11.1 GB for the quarter ending December 2019. Average voice consumption per user per month of 760 minutes for the quarter ending December 2019. Facebook and WhatsApp in India WhatsApp had 400 million users in India, as of July 2019 Facebook has around…
- Indian Govt to come up with Search and Seizure Guidelines by December 14: Supreme Court December 6, 2023
- Uttar Pradesh Government begins process to use Drones to Monitor MNREGS Sites December 6, 2023
- Meta and IBM Forge ‘AI Alliance’ With 50 Members Focusing On Open Innovation in Artificial Intelligence December 6, 2023
- Delhi Govt notifies Motor Vehicle Aggregator and Delivery Service Provider Scheme 2023 December 6, 2023
- Post Office Bill 2023 passed in Rajya Sabha: Here are the major privacy concerns raised by MPs December 5, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Straw man fallacy: IT Ministers’ defence of government exemptions in data protection law misses the point
Both the IT Minister and the IT Minister of State have chosen to avoid the actual concerns raised, and have instead defended against lesser...
The Central Board of Film Certification found power outside the Cinematograph Act and came to be known as the Censor Board. Are OTT self-regulating...
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...