Home Business Google in Talk with Reliance: may invest $4 billion in JIO

Google in Talk with Reliance: may invest $4 billion in JIO

With several number of investements in Reliance JIO. Mukesh Ambani has now become the Top 6 Richest Person in the World. Now Google is in talk with Reliance to buy stake in it.

The investment news can come in the next few weeks. RIL has already attracted more than $15 billion of investments within few months.

Qualcomm Ventures was the latest Company to invest in JIO.

The search giant’s boss Sundar Pichai, in an interview to ET earlier, had neither denied nor confirmed reports of Google’s interest in Jio.

Google has pledged $10 billion in India over subsequent five to seven years with the aim of consolidating its position within the digital ecosystem of the world’s fifth-largest economy that’s emerging as a battleground for global internet giants. The firm’s outlay for India — nearly double the $5.7 billion investment made by rival Facebook within the digital platform of India’s largest conglomerate Reliance Industries in April — are going to be deployed through a mixture of investments and partnerships

The flurry of deals for Jio have backed Ambani’s ambition to morph Reliance from an energy company to an e-commerce giant.

Jio is at the middle of Ambani’s drive to make a homegrown version of Alibaba Group Holding Ltd. The tie-up with Facebook has given the venture a Silicon Valley stamp of approval and has lured a dozen investors, enthused by the unit’s potential to shake up online retail, content streaming, digital payments, education and health care during a market of 1.3 billion people.

Facebook, which paid $5.7 billion for about 10% of Jio Platforms, has said it expects the traffic jam will make WhatsApp the first way many India’s small businesses connect with customers. The messaging app has roughly 400 million users within the country, about an equivalent as Reliance Jio Infocomm Ltd.’s subscriber base for wireless services.


Riot Hit area of Bengaluru resemble war zone

Riot Hit area of Bengaluru resemble war zone Pulakeshinagar area in Bengaluru resembled a war zone hours after an...

Modi to launch new, transparent scheme to reward honest taxpayers

PM Modi will launch a news tax scheem tomorrow. 'Transparent Taxation' will be launched by PM Modi vai video-conferencing tomorrow.

How covid vaccines will be distributed in India?

After Russia claiming that it has developed the world's first covid vaccine offering "sustainable immunity" against covid-19. An committee headed by NITI...

Dell launches new 14-inch convertible laptop latitude 7410 chromebook Enterprise

Dell has launched the new Latitude 7410 Chromebook Enterprise, a 14-inch convertible business laptop. With the new laptop, Dell expands its Latitude...

Shift in Habits due to pandemic: gamers seeking upgrade in gaming experience

Delhi: PC and console gaming grows due to covid-19 induced shift in habits Several PC brands have reported up...