Tag Archives: billion

According to Bloomberg, Google is investing USD 4 billion in India’s Jio platforms, a subsidiary of conglomerate Reliance Group, to create affordable smartphones for the Indian market. The news ensued company CEO Sundar Pichai’s claim that Google will invest USD 10 billion in India over the next 5-7 years. Jio has already received capital from prestigious investors including Facebook, Silver Lake Partners, Intel Ventures, and etc. Only last week, the company sold 0.15 percent of… Source link

(Bloomberg) — Online insurance platform Policybazaar aims to go public in 2021 at a valuation north of $3.5 billion, potentially becoming the first of India’s mega-startups to debut as its digital economy booms. The startup plans to secure about $250 million in a round of financing at a $2 billion-plus valuation before a September 2021 initial public offering, co-founder Yashish Dahiya told Bloomberg News. Policybazaar is now selecting two to three IPO lead underwriters from a roster that… Source link

Alphabet Inc.’s Google will invest about $4.5 billion in Jio Platforms Ltd, the company behind India’s largest telecom provider by subscribers, giving the American tech giant a powerful partner for its plans to get hundreds of millions more people online. Google will take a 7.7% stake in Jio, which brought the internet to millions of people who previously couldn’t afford it by offering inexpensive handsets and data plans. It now has more than 388 million subscribers. … Source link

Google (GOOGL) will pump $4.5 billion into Mukesh Ambani’s Jio Platforms, the digital technology arm of sprawling conglomerate Reliance Industries. That gives Google a 7.7% stake in the company, the companies announced Wednesday. The investment includes a deal to jointly develop an entry level, affordable smartphone and “expand the benefits of digitization across the length and breadth of India,” they said. The deal values Jio at about $58 billion. Jio Platforms includes India’s biggest mobile… Source link

Google has become the latest high-profile firm to back India’s Reliance Jio Platforms. The search giant is investing $4.5 billion for a 7.73% stake in the top Indian telecom network, Reliance Industries chairman Mukesh Ambani said on Wednesday. The investment today from Google is one of the rare instances where the Android-maker has joined its global rival Facebook in backing a firm. Facebook invested $5.7 billion in Reliance Jio Platforms, which has amassed over 400 million… Source link

Mukesh Ambani Barcroft Inida | Getty Images Google is in “advanced talks” to invest $4 billion in Indian telecommunications firm Jio Platforms, according to a report from Bloomberg on Tuesday.  The announcement could come in the next few weeks, sources familiar with the matter reportedly told Bloomberg. However, it could be delayed or canceled altogether, and the details are still being ironed out.  Google and Reliance Industries did not immediately respond to CNBC’s request for comment.  If… Source link

The stock surge has also helped Ambani, Asia’s richest man, to break into the exclusive club of the world’s 10 wealthiest people. With a net worth of $72.4 billion, according to the Bloomberg Billionaires Index, the titan has rocketed past Elon Musk, Google co-founders Larry Page and Sergey Brin, as well as legendary investor Warren Buffett in the past few days to become sixth on the list. Source link

BENGALURU/NEW DELHI : Google is in advanced talks to buy a stake in Reliance Industries Ltd.’s digital arm Jio Platforms Ltd., according to people familiar with the matter. The US technology company has been discussing an investment of about $4 billion, the people said, asking not to be identified because the information is private. An announcement could come as soon as the next few weeks, according to the people. Details of the potential deal could… Source link

FILE PHOTO: A logo of Google is seen at an office building in Zurich, Switzerland July 1, 2020. REUTERS/Arnd Wiegmann BENGALURU (Reuters) – Alphabet Inc’s Google is in advanced talks to invest $4 billion for a stake in the digital arm of Indian conglomerate Reliance Industries Ltd, Bloomberg reported on Tuesday, citing people familiar with the matter. An announcement could come as soon as the next few weeks, according to the report here Google declined to comment, while Reliance did not… Source link

CEO Sundar Pichai announced the investment via livestream on Monday at the annual Google (GOOGL) for India event. “This is a reflection of our confidence in the future of India and its digital economy,” he said in a statement. “India’s own digital journey is far from complete. There’s still more work to do in order to make the internet affordable and useful for a billion Indians … from improving voice input and computing for all of India’s languages, to inspiring and supporting a whole new… Source link