Google to become Jio Platforms second-largest investor
Reliance Industries has announced Google is the latest company to purchase a stake of its digital ventures business unit, paying $4.5 billion for the privilege of a 7.7% share.
Reliance Industries has announced Google is the latest company to purchase a stake of its digital ventures business unit, paying $4.5 billion for the privilege of a 7.7% share.
With the Jio Platforms business unit now valued at roughly $65 billion, Qualcomm Ventures has become the latest to invest in the burgeoning Indian digital champion.
Mukesh Ambani is proving to be one of the most popular figures in the telco world as two more investors have bought into the Reliance Jio mission to digitise India.
Reliance Industries have found a fifth investor to purchase a handsome stake in Jio Platforms, its digital business unit, with Mubadala signing a $1.2 billion cheque for 1.85%.
It seems the US moneymen have a taste for Indian connectivity as General Atlantic becomes the fourth third-party firm to invest in the money-making machine which is Jio Platforms.
Vista Equity Partners has become the third-largest investor in Reliance Platforms, purchasing a 2.32% equity stake in the disruptive business for $1.5 billion.
The Indian telecommunications industry might be crumbling around it, but Reliance Jio is still reaping the rewards of disruption and chaos, and there is much more to come.
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