Reliance Made Deals With 4 Tech Giants! What Are The Deals?

Reliance Industry is growing very faster than most other companies.In Corona Pandemic,they have made so many deals with multinational companies. Mukesh Ambani, chairman of Reliance is now 6th richest person in the world. Reliance Industry became the first Indian Company to hit a market valuation of Rs.13 Lakh crore. Mukesh Ambani earned Rs.1.27 lakh crore in just two months by adding Rs.2.53 lakh per second in his wealth.It happened just because they made deals with other multinational companies. In this article, you will know about deals that Reliance made with Tech Giants.

1.Facebook 

Reliance Made Deal With  RelianceFacebook proposed multi billion dollar investment in Jio Platforms for 99.9% stake in the top indian telecom network. Facebook invested $5.7 Billion in Jio Platforms. Jaadhu Holdings LLC, a wholly owned by subsidiary of Facebook is acquiring the stake in Jio Platforms.

After this, the watchdog said it was accessing the deal for potential misuse of user’s data and pondering if it should consider amending the current rules for some mergers and acquisition in the country.

Facebook replied that its investment in the Indian firm is “pro-competitive, benefits consumers, kirana stores and other small and micro local Indian businesses, and takes forward the vision of digital India.”

Analysts have said that Facebook’s investment in billionaire Mukesh Ambani’s Jio Platforms, its biggest investment in recent years, could help the social media giant expand its reach in India, which is already its biggest market by user count.

In April, Facebook said it planned to work with Reliance Jio Platforms to empower 60 million small businesses, including mom-and-pop stores in India. Early signs of this collaboration were apparent a week later when JioMart, a joint venture between Reliance Jio Platforms and Reliance Retail, started to allow customers to track shipment through WhatsApp.

2.Intel 

Screenshot 20200715 183658

Electronic chip maker Intel’s investment arm, Intel Capital, will buy 0.39 % stake in billionaire Mukesh Ambani’s digital unit, Jio Platforms, for Rs 1,894.50 crore. Intel Capital is 12th company to join the list of marquee firms who have invested in Jio Platforms. Jio Platforms, a wholly-owned subsidiary of Reliance Industries, also runs Reliance Jio telecom business. Jio leads the India market with over 38.8 crore subscribers.

3.Qualcomm 

Qualcomm Made A Deal With Reliance

Qualcomm becomes 3rd technology investor in Jio Platforms, the Reliance Industries digital unit that runs the telecom enterprise Jio Infocomm as well as several apps, after Facebook and Intel

Qualcomm Inc will invest Rs 730 crore in Jio Platforms in exchange for a 0.15 % stake, joining a pack of big-ticket investors that have grabbed a piece of the digital unit of Reliance Industries.

Qualcomm, one of the world’s top wireless technology companies, is the third technology investor in Jio after Facebook Inc and American semiconductor giant Intel. The RIL unit runs the telecom enterprise Jio Infocomm, India’s biggest, as well as movie, news and music apps.

4.Google

Google Made A Deal With Reliance

Google will become the 13th investor to bet big on Reliance Industries’ telecom and digital unit Jio Platforms by picking up 7.73% stake for Rs 33,737 crore. The investment will be from Google’s recently announced $10 billion India digitisation fund and interestingly makes the internet giant become the second largest minority investor in Jio Platform after arch rival Facebook.

“Jio Platforms Limited, a subsidiary of the Company, today signed binding agreements with Google International LLC pursuant to which Google would invest Rs 33,737 crore for a 7.73% equity stake in Jio Platforms,” RIL said in a statement.

Maybe it’s just a begging for  Jio Platforms, they may come up with so many ideas. Another about Reliance is, Reliance Jio was the only telecom network company that did not use a single Chinese equipment. 

Hope you enjoyed the article, share it with everyone you know:)

 

We will be happy to hear your thoughts

Leave a reply

GAT Gadgets
Register New Account
Reset Password
Compare items
  • Mobiles (0)
  • Laptops (0)
  • Smart TV (0)
  • Fitness Band (0)
  • Smart Watch (0)
Compare
0