Facebook-Jio $5.7B Deal
Facebook just bought 9.99% stake at JIO for about 44,000 crores ( 5.8B$ )
Facebook now has become JIO's largest minority stake holder. Wondering why FB invested in JIO? -
Remember internet. org ? Fb's failed attempt in India to make internet free of cost and had a lot of retaliation due to net neutrality?
Well now fb has access to 388M jio customers.
- Integration of jio products across Facebook's portfolio : whatsapp and jio mart for example to connect small businesses.
- Understanding the digital ecosystem of India. Jio has managed to change how India uses internet in just 3 years, there is no better partner for FB in this space.
Also shows how important India is for global players.