Social media giant Facebook earlier today announced a monumental investment in India’s biggest telecom company, Reliance. An announcement coming from both Reliance Industries Limited head Mukesh Ambani and Facebook co-founder and CEO, Mark Zuckerberg also talked about how WhatsApp and Reliance Retail’s JioMart will work together to let people access nearby kirana shops easily.
In case you missed this important update of the day, here are some numbers to brief you up.
-RIL (Reliance Industries Limited) is worth nearly $100 billion while Facebook is USA’s 5th largest company worth $500 billion.
-$5.7 billion (Rs 43,547 crore) gets Facebook 9.9% of what’s called the Jio platforms.
-Jio currently sits over 388 million user base that it has garnered in three-and-a-half years, more than Airtel and Vodafone, two other top telecom brands in India.
-Facebook’s WhatsApp has over 400 million active users in India and 350 million Facebook users -both largest in the world.
-$65 billion is the value of unlisted Jio, almost twice the value of its biggest rival Airtel ($39 billion, listed value).
-What’s certain is that among other things is the expansion of WhatsApp payment service in India that was stuck in regulatory approvals for more than two years. That’s something that should make Paytm, Google Pay, Phone Pe to think over, quickly.
-The latest collaboration valuates Jio $65.95 billion.
-As a part of the partnership, the two companies will focus on 60 million micro, small and medium businesses in India. This includes nearly 120 million farmers, 30 million small merchants and millions of small and medium enterprises in the informal sector.