FACEBOOK'S INVESTMENT IN JIO TAKES ON US TECH FIRMS BETTING ON INDIA
The stage is now set for a competition among American tech giants betting on India’s online Ecosystem. Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd (RIL) with Facebook as a shareholder, will now be engaged in a full-fledged battle with multiple internet-based businesses.
In the ecommerce and hyperlocal space, Jio Platforms will now compete with Google, Amazon and Walmart-backed Flipkart. In the digital payments space, it will compete with Paytm, GPay and PhonePe.
Facebook will invest ₹43,574 crore for a 9.99% stake on a fully diluted basis in Jio Platforms to become the largest minority shareholder of the RIL subsidiary.
Jio now eyes 60 million small businesses across the country which are the fabric of the unorganised retail economy.
In 2019, Reliance Jio announced a 10-year deal with Microsoft to help the operator set up a network of large data centres across India. The tech giant will deploy its Azure cloud platform in these centers to support offerings.
Jio had announced it will also provide the combined cloud-Microsoft app infrastructure free of cost to startups and for a monthly fee of ₹1,500 to micro, small, and medium enterprises.
For know more about in India : https://currentawarenesss.blogspot.com/
Know about furniture for stylish life: https://thefurniturhouse.blogspot.com/
The stage is now set for a competition among American tech giants betting on India’s online Ecosystem. Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd (RIL) with Facebook as a shareholder, will now be engaged in a full-fledged battle with multiple internet-based businesses.
In the ecommerce and hyperlocal space, Jio Platforms will now compete with Google, Amazon and Walmart-backed Flipkart. In the digital payments space, it will compete with Paytm, GPay and PhonePe.
Facebook will invest ₹43,574 crore for a 9.99% stake on a fully diluted basis in Jio Platforms to become the largest minority shareholder of the RIL subsidiary.
Jio now eyes 60 million small businesses across the country which are the fabric of the unorganised retail economy.
In 2019, Reliance Jio announced a 10-year deal with Microsoft to help the operator set up a network of large data centres across India. The tech giant will deploy its Azure cloud platform in these centers to support offerings.
Jio had announced it will also provide the combined cloud-Microsoft app infrastructure free of cost to startups and for a monthly fee of ₹1,500 to micro, small, and medium enterprises.
For know more about in India : https://currentawarenesss.blogspot.com/
Know about furniture for stylish life: https://thefurniturhouse.blogspot.com/
Is this good for Indian future technology??
ReplyDeleteYeah ofcourse in future prices of jio recharges or services may be good.
Deletesuch feeds👌
ReplyDeleteThank you for your feedback 😊
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