Facebook invests $ 5.7 billion in the Indian giant Jio
Facebook invests $ 5.7 billion in the Indian giant Jio

Facebook has announced a new partnership to accelerate digital transformation in India by investing $ 5.67 billion in the digital technologies division (Jio platforms) of Indian billionaire Mukesh Ambani, the largest social network investment in India to date.

Facebook invested billions of dollars in (Jio Platforms) to acquire a 9.99% stake in the company, enabling Silicon Valley to gain a foothold in one of the world's fastest growing Internet markets.

Jio platforms provide many services, including Reliance Jio. The cellular network has registered nearly 390 million users since its inception in three and a half years and is a leader in India in terms of revenue and base.

The partnership includes business cooperation with WhatsApp platform, which can facilitate monetization of 340 million WhatsApp users in India by providing digital payment services in cooperation with the e-commerce market (JioMart). Clients are online.

(Jio Platforms) said that Facebook's investment made it one of the largest 66 billion market shareholders, and Mark Zuckerberg, Facebook CEO, said: “India is going through a global digital transformation that has been important among them, organizations like Jio Platforms have played a role Important to attract hundreds of millions of Indians and small businesses to the Internet. "

The Mumbai-based Reliance Industries Group owns a large retail store and currently has more than 10,000 grocery, FMCG and clothing stores.

Reliance Industries plans to sell five of its oil and chemical refineries to Saudi Aramco for about $ 15 billion, while it will sell shares of the telecom tower assets to the Canadian asset management company Brookfield for more than $ 15 million.

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