Sunday, November 17

Tag: Jio funding

Google invests $4.5 billion for 7.7% stake in Jio platforms
15Jul By PriyankaNo Comments
FUNDING

Google invests $4.5 billion for 7.7% stake in Jio platforms

Mumbai 15th July 2020: Google acquired a 7.7 percent stake of India's leading online company Jio platforms for $4.5 billion, adding to a series of large U.S. investments into an India based online venture that has nearly 400 million users in India. The global search leader is acquiring 7.7% of the fast-growing internet unit for 337.4 billion rupees, Reliance Chairman Mukesh Ambani said in a Reliance AGM event. Google, whose Android software runs on most smartphones, will help Jio create an entry-level, affordable mobile device, he added. Google joins rival Facebook Inc., which recently invested $5.7 billion toward a 9% stake of Jio. Total 14 investment came in Reliance Jio in the last two months which includes chipmakers Intel Corp. and Qualcomm Inc etc. Jio is a highly prefe...
Read More
Qualcomm acquires 0.15% stake in Jio for $97 million
13Jul By AdityaNo Comments
ACQUISITION

Qualcomm acquires 0.15% stake in Jio for $97 million

Mumbai, 13th July 2020: Billionaire Mukesh Ambani's Reliance Industries said it has secured $97 million (Rs 730 crore) from wireless technology leader Qualcomm makes total funding since April that has crossed $15.7 billion (Rs 1.18 lakh crore). "Qualcomm Ventures' investment will translate into 0.15 percent equity stake in Jio Platforms on a fully diluted basis," the company said in a statement. With this round, Reliance Jio sold its 25.24 percent stake to companies like Facebook, Silver Lake, General Atlantic, Intel, etc. The company said the investment in Jio will deepen the ties with Qualcomm that will help Jio to rollout of advanced 5G infrastructure and services in India. Qualcomm is the world's leading wireless technology innovator and the driving force behind the develo...
Read More