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…
