Tag Archives: Jio

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

Google already has Google Pay, and once WhatsApp gets into this business, there would be major competition between the two. The Reliance Jio-Google collaboration is not only beneficial for the Indian company by enabling it to on-board the nearly 350 million 2G subscribers to its 4G network fold, the deal, for which Google is investing Rs 33,737 crore into the Jio Platforms for a 7.77% stake, will also lead to big gains for the tech giant. As is known, as part of the tie-up Jio will manufacture… Source link

Welcome to Foreign Policy’s South Asia Brief, the newsletter that covers the region comprising Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lanka. This week: Google invests $4.5 billion in India’s Jio Platforms, South Asia records 1.5 million coronavirus infections, mass flooding hits Bangladesh, and Nepal picks a new fight with India. If you would like to receive South Asia Brief in your inbox every Thursday, please sign up here.

Reliance Jio continues to add billions of dollars to its bank account, Apple scores a tax victory in Europe and researchers test a system for undersea Wi-Fi (with lasers!). Here’s your Daily Crunch for July 15, 2020. Google invests $4.5 billion in India’s Reliance Jio Platforms Another giant tech company has invested in India’s largest telecom, following Facebook’s investment a couple of months ago. Reliance Jio has raised about $20.2 billion in the past four months — more… 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 is investing $4.5 billion for a 7.73 percent stake in Jio Platforms, an Indian internet giant that offers broadband, mobile services, and online commerce platforms, the company announced today. The investment, which is pending regulatory review, is part of Google’s commitment to invest around $10 billion in India over the next five to seven years. It follows a similar move from Facebook to invest $5.7 billion for a 9.9 percent stake in the company earlier this year. Jio Platforms… 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