Home News and Updates Facebook Jio partnership, Facebook buys 10% of Jio for $5.7 Billion, INR 43,574 Crore

Facebook Jio partnership, Facebook buys 10% of Jio for $5.7 Billion, INR 43,574 Crore

by Deepthi Sharma
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As we all know Last month, Financial Times reported that the Facebook jio partnership will be seen . However, the deal was postponed due to the coronavirus pandemic.

Today Facebook has announced that it is investing $5.67 billion into India’s biggest carrier, Reliance Jio.

Post from Facebook CEO on Facebook Jio Partnership

Now ,Both companies will participate in programs that help small businesses, farmers, and shop owners reach more customers through digital services.

Message from Mukesh Ambani on Facebook Jio Partnership

Facebook CEO Mark Zuckerberg said “this partnership can help more than 60 million small businesses in in India to grow”. As we know India is having largest communities on
on Facebook and WhatsApp. Recently WhatsApp has crossed 2 billion active users across world.

Reliance Jio

Reliance Jio, which began its commercial operation in the mid of 2016, upended the local telecom market by offering bulk of 4G data and voice calls for six months to users for free of cost.

Jio startred with a price war that forced local network providers Vodafone and Airtel to revise their data plans and mobile tariffs; however, they struggled to match the offerings of Jio, which has become the top telecom operator in the country.

Facebook Jio partnership, Facebook buys 10% of Jio for $5.7 Billion, INR 43,574 Crore 1

Reliance Jio also provide services like smartphones, broadband business, on-demand live television service JioTV, and payments service JioPay.

Facebook’s Interest in Indian Market

This is for the second time Facebook is entering the Indian business . In 2015, the company brought its Free Basics program to India by partnering with local carriers to offer access to select websites for free.

In a statement, Ambani said this partnership will be instrumental in the country’s economic recovery post coronavirus pandemic:

India is home to the largest communities on Facebook and WhatsApp, and a lot of talented entrepreneurs. The country is in the middle of a major digital transformation and organizations like Jio have played a big part in getting hundreds of millions of Indian people and small businesses online.

Mark Zuckerberg / Facebook Post

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