Relaince Jio, is an Indian telecommunications company and subsidiary of Jio Platforms, headquartered in Mumbai, Maharashtra, India. Since its launch Jio is growing at an exponential rate. It is the largest mobile network operator in India and the third largest mobile network operator in the world.
For few months now, Reliance Jio is seen receiving a lot of hefty investors from all around the world. To recall, Facebook was the first company to invest in Jio platforms. The news of investment were made public in April. Facebook would invest $5.7 billion to get a 10 per cent stake in Jio platforms.
Recently, a lot of other platforms invested in Jio platform too. Silver Lake, General Atlantic, Abu Dhabi’s two largest sovereign investment arms, Abu Dhabi Investment Authority and Mubadala, Qualcomm just to name a few. There are more investors in Jio. Reliance Jio even achieved the state of being a debt free company.
Google and Jio
Reliance Industries Ltd (RIL) during its 43rd annual general meeting (AGM) has announced the to bring in Google as an investor. The company has announced Google will invest Rs 33,737 crore for a 7.7 per cent stake in Jio platforms after all the terms and regulations are met. With this Google will be joining partners with many of Jio’s investors.
Ambani announced that it has partnered with Google to develop and launch a new 5G supported affordable entry-level smartphone. With the help of Google, these affordable phones will be powered by new android based operating system. This is done with a view to turn the country a 5G ready industry for upcoming projects. With the help of Google’s partnership, Ambani said, he wants to make India 2G-mukt (2G free).
CEO’s on this partnership
“Reliance Industries, and Jio Platforms, in particular, deserve a good deal of credit for India’s digital transformation. The pace and scale of digital transformation in India is hugely inspiring for us and reinforces our view that building products for India first helps us build better products for users everywhere. Google is proud to invest Rs 33,737 crore into Jio. I am excited that our joint collaboration will focus on increasing access for hundreds of millions of Indians who don’t currently own a smartphone while improving the mobile experience for all,” said Mr Sundar Pichai, CEO of Google and Alphabet.
“Google has empowered millions of Indians to access helpful information and, like Jio, is a force for change and innovation. We welcome Google onboard and are excited about our partnership for what it can deliver to Indians, from universalising Internet usage to deepening the new digital economy and providing a prime mover to India’s economic growth. Together, we hope to play a strong facilitative role in the transformative journey of building a new, Digital India,” said Mukesh D Ambani.
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