Facebook Invests $5.7 billion stake in India’s Big giant Jio

Facebook Invests In Jio To make WhatsApp as We-Chat Style

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Facebook Invests billion stake in India’s Big giant Jio, a huge deal of $5.7 billion into Jio platform for expansion of the social media big commitment to a promising market. Jio provides broadband, mobile services and online commerce platform and Facebook invested 10% in the company and will become the largest minority shareholder. 

Facebook decided to invest because of the huge WhatsApp user base in India and approximate more than 400 million Indians are using WhatsApp which is more than other countries in the world. From the Blog bylined by CRO David Fischer and VP India Ajit Mohan, One of the goals for this investment is to create opportunities for small businesses.

Fisher and Mohan Said : Major focus of our collaboration with Jio will be the new ways for businesses and people to operate more efficiently in the growing digital economy. Along with it bring JioMart along with WhatsApp, It is easy to connect with businesses by people, Shop and finally purchase products with seamless experience. 

Last Week from Economics Times stated that Reliance and Facebook were planning to leverage Jio services and WhatsApp to create “super-app” WeChat-style for India. In China there are more than a billion users and many small businesses using WeChat for Promotion, Communication and payment. 

Jio offered a heavy discounted price for 4G plans well before competitors and brought more than 388 million people online. Earlier Facebook started to provide internet access in India by an ill-conceived Free Basics program but it was banned due to violation of net neutrality. 

Fischer and Mohan communicate,” We are delighted about our investment in India\’s energetic digital economy. Our main focus along with Jio is to open new doors and gear up India\’s economic growth and prosperity of Indians. We anticipate working with Jio for future collaborations in India to move along with this vision.

365Bloggy February 5, 2024
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