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New Delhi, Apr 30 () Days after selling a stake in its digital arm to <keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> for USD 5.7 billion, <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Industries on Thursday said it is in talks with other strategic and financial investors for a similar-sized deal that will help cut debt at the unit that houses India's youngest but biggest mobile operator. Without revealing the identity of the companies, RIL in its fourth-quarter earnings statement said the investment would be announced in the coming months. "In addition to the FB investment, the board was informed that RIL has received strong interest from other strategic and financial investors and is in good shape to announce a similar-sized investment in the coming months," it said. Ahead of last week's announcement of Facebook buying a 9.99 per cent stake in Jio Platforms Ltd, there were unconfirmed reports of the company being in parallel discussions with Google. The potential interest, the company said, establishes "the attractiveness of Jio Platforms to the world and is a strong validation of RIL's capability to conceive large-scale disruptive greenfield businesses". "With strong visibility to these equity infusions, the board was informed that RIL is set to achieve net-zero debt status ahead of its own aggressive timeline," the statement said. Billionaire <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> is looking to replicate the success of WeChat and Alipay in China as multipurpose superapps -- platforms with integrated chat functions, payment and financial services and online shopping -- to take on Amazon and Walmart's Flipkart in an e-commerce market that KPMG says is likely to grow to USD 200 billion by 2027. The tie-up brings together WhatsApp, India's most popular app with about 400 million users, and Jio's mobile services with 388 million subscribers. WhatsApp would be integrating a 'Jio Shopping bot' on the API (application programming interface), and allow users to add the bot to their contacts. Once added, users can search for a local business, see available products in a catalogue, and purchase the product in the thread or in the shop. Earlier this week, JioMart, an e-commerce venture of Reliance Retail, opened a business account on Facebook's WhatsApp. It connects WhatsApp users to JioMart through automated text messaging and complete order delivery through local grocery or Kirana stores. Although the service is only available in three cities, the experiment offers an example of how the WhatsApp-JioMart combination will function as a multipurpose mobile service connecting hundreds of millions of consumers with local Kirana stores. The Facebook deal as also the one indicated by the company on Thursday along with a potential sale of 20 per cent stake in Reliance's oil-to-chemical business to Saudi Aramco for an asking of USD 15 billion would help Ambani bring down overall net debt at his group and help to move towards his target of achieving zero net debt by March 2021. The acquisition of a 9.99 per cent stake in Jio Platforms Ltd for USD 5.7 billion represents the second-largest investment of Facebook to date (the largest was USD 19 billion WhatsApp acquisition in February 2014). The largest foreign direct investment in the technology sector in India is also expected to give the US social-networking firm a broader foothold in its biggest global market. Facebook will be issued fresh equity shares and will get a board position on Jio Platforms. Ambani had, in August last year, told Reliance Industries shareholders about plans to sell stake in some of the businesses with the goal of making the firm free of net debt by 2021. "In the very near future, JioMart and WhatsApp will empower nearly 3 crore small Indian Kirana shops to digitally transact with every customer in their neighbourhood," Ambani, 63, had said in a video message after the mega-deal announcement on April 22. "This means all of you can order and get faster delivery of day-to-day items, from nearby local shops. At the same time, small kiranas can grow their businesses and create new employment opportunities using digital technologies," he had said. MBI ANZ MKJ

After Facebook, Reliance in talks with other investors to offload more stake

<ul><li>The Facebook deal is part of value unlocking by RIL to cut debt. </li><li>The latest deal is a win-win for both Facebook and Jio. It would give Facebook deeper access to India, the second largest internet market after China.</li><li>Jio was reportedly in talks with Google too but the fate of those discussions is not known. </li></ul>Facebook on Wednesday announced an investment of USD 5.7 billion (Rs 43,574 crore) to buy a 10 per cent stake in the firm that houses billionaire <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>'s telecom arm Jio as the social media giant looks to expand presence in its largest market in terms of subscriber base. "Today we are announcing a USD 5.7 billion, or Rs 43,574 crore, investment in Jio Platforms Ltd, part of <keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> Ltd, making Facebook its largest minority shareholder," the company said in a statement. Reliance in a separate statement said the investment by Facebook values Jio Platforms at Rs 4.62 lakh crore pre-money enterprise value (USD 65.95 billion, assuming a conversion rate of Rs 70 to a US dollar). "Facebook's investment will translate into a 9.99 per cent equity stake in Jio Platforms on a fully diluted basis," it said. Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd (RIL), houses digital services of the group. Reliance Jio Infocomm Ltd, with 388 million subscribers, is a wholly-owned subsidiary of Jio Platforms. The Facebook deal is part of value unlocking by RIL to cut debt. RIL has been seeking strategic partnerships across its businesses while targeting to deleverage its balance sheet. It has been talking to Saudi Aramco for sale of a 20 per cent stake in its oil-to-chemical business for an asking of USD 15 billion. RIL has already tied up with BP Plc for fuel business as it targets to have a debt-free status by next year. Jio was reportedly in talks with Google too but the fate of those discussions is not known. The latest deal is a win-win for both Facebook and Jio. It would give Facebook deeper access to India, the second largest internet market after China. Facebook already has 400-plus million Whatsapp users in India and is looking to launch a payment offering. Having a local partner could help it in navigating various regulatory issues, including those related to privacy and local storage. Also, having a good telecom partner could help Facebook improve its reach to masses. From an RIL perspective, it could leverage on Facebook's technology expertise and talent pool as well as help in its ambitions to make Jio a digital company. This apart, the deal would aid the company achieving zero debt status by March 2021. Since launching Jio in 2016, RIL has emerged as the only Indian company capable of competing with US tech groups in the fast-growing Indian market, expanding from mobile telecom into everything from home broadband to e-commerce. Jio has emerged as the number one telecom operator in India, both in terms of traffic as well as revenue in a virtual two-player market since the third player, Vodafone-Idea is struggling under regulatory burden. Jio's main competitor is Bharti Airtel. Facebook said the investment "underscores our commitment to India, and our excitement for the dramatic transformation that Jio has spurred in the country". "In less than four years, Jio has brought more than 388 million people online, fueling the creation of innovative new enterprises and connecting people in new ways. We are committed to connecting more people in India together with Jio," it added. Together with WhatsApp and Instagram, Facebook overall is estimated to have more users in India than any other single country. The number of internet users in India is projected to rise to about 850 million in 2022, according to consultancy PwC, up from 450 million in 2017. "The partnership between Facebook and Jio is unprecedented in many ways. This is the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India," RIL said. "The investment values Jio Platforms amongst the top 5 listed companies in India by market capitalisation, within just three-and-a-half years of launch of commercial services, validating RIL's capability in incubating and building disruptive next-generation businesses, while delivering market defining shareholder value," the statement said. See also: <a href="https://www.businessinsider.in/tech/news/cognizants-ransomware-attack-is-making-peers-like-tcs-and-infosys-nervous-and-they-are-beefing-up-security/articleshow/75271532.cms">Cognizant's ransomware attack is making peers like TCS and Infosys nervous — and they are beefing up security</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-ceo-says-the-business-model-is-20-years-old-and-its-time-to-go-employee-lite/articleshow/75243124.cms">TCS CEO says the business model is 20 years old and it's time to go employee-lite</a> <a href="https://www.businessinsider.in/business/news/without-rbis-help-rupee-value-might-slump-to-80-per-dollar-says-report/articleshow/75273796.cms">Without RBI’s help, Rupee value might slump to 80 per dollar says report</a>

Mark Zuckerberg's Facebook picks up 9.9% stake in Mukesh Ambani's Jio for $5.7 billion

<ul><li><keyword id="6354576" type="COMPANY" weightage="20" keywordseo="facebook">Facebook</keyword> and Reliance Industries are reportedly in talks to create a multipurpose app for India. </li><li>The app will allow users to chat, play games, shop online, book tickets and more. </li><li>The discussions have reportedly been delayed due to the Coronavirus pandemic. </li></ul>Reliance Industries and Facebook are reportedly in talks to create a multipurpose app for India that may change how Indians chat, play games and make payments. According to an Economic Times <a href="https://economictimes.indiatimes.com/tech/software/ril-facebook-weigh-creating-a-super-app/articleshow/75169476.cms">report</a>, the two companies are looking to create a <keyword id="1160904" type="COMPANY" weightage="20" keywordseo="WeChat">WeChat</keyword> like app for the country. The report suggests that both the companies would bring in technical knowhow, funding and domain expertise for the project. The discussions for the project have reportedly been delayed due to the Coronavirus pandemic. “This is going to be a defining partnership, and it’s not just a financial investment. The deal is about creating value and a business that would differentiate both Facebook and Reliance,” said a person familiar with the matter. <keyword id="790242" type="COMPANY" weightage="20" keywordseo="WhatsApp">WhatsApp</keyword> may soon offer games, digital payments and more Facebook is looking to leverage its popular messaging app WhatsApp which crossed 2 billion users earlier this year. While the company has not revealed the number of users in India, it had reported 400 million users in July 2019. The multipurpose app will reportedly be built along the lines of WeChat that combines digital payments, games, social media, ticket booking and more in one app. Users will be able to chat, buy groceries from Reliance Retail stores, shop on the company’s Ajio platform or make payments using JioMoney on the new multipurpose app. It’s not clear if the companies will launch a new app for this or add these new functions to WhatsApp. Facebook may invest in Reliance Jio Mark Zuckerberg-led Facebook is <a href="https://www.businessinsider.in/business/news/why-facebook-owner-mark-zuckerberg-wants-stake-in-mukesh-ambani-owned-reliance-jio/articleshow/74803994.cms">reportedly</a> looking to acquire a 10% stake in Mukesh Ambani-owned Reliance Jio. However, a source told Economic Times that the situation is ‘fluid’ and it is unclear what the final structure would look like. “A new company could be created – where both the players could invest; or Facebook could invest in Reliance Jio and Reliance Retail, and that is the way the partnership could be formed for the new venture,” the source said. The two companies have reportedly hired top consultants and lawyers in the US to explore various aspects of the deal, including legal and taxation matters. See also: <a href="https://www.businessinsider.in/business/news/why-facebook-owner-mark-zuckerberg-wants-stake-in-mukesh-ambani-owned-reliance-jio/articleshow/74803994.cms">Facebook's next investment in India may be Mark Zuckerberg's most important — in Asia's richest man Mukesh Ambani</a> <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambanis-reliance-jio-becomes-the-largest-telco-by-revenue-and-subscribers-as-industry-shows-signs-of-recovery/articleshow/73667566.cms">Mukesh Ambani’s Reliance Jio becomes the largest telco by revenue and subscribers - as industry shows signs of recovery</a>

Mukesh Ambani and Mark Zuckerberg are looking to create a WeChat like super-app says report

<ul><li><keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> has invested $5.7 billion for a 9.9% stake in <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> which puts the pre-deal valuation at ₹4.4 lakh crore. </li><li>The reason <keyword id="6354630" type="PERSON" weightage="20" keywordseo="mark-zuckerberg">Mark Zuckerberg</keyword>’s investment makes sense is because <keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword> is likely to be the fastest-growing segment for Reliance in the post-COVID world. </li><li>It’s also a way for Facebook to gain an edge in the Indian market which has largely been a duopoly between Facebook and Google when it comes to digital solutions for over a decade — a duopoly that has come under pressure with ByteDance’s entry.</li></ul>Facebook announced that it has invested $5.7 billion for a 9.9% stake in Mukesh Ambani’s Reliance Jio platform — India’s largest telecom player by the <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-jio-collaborates-with-mark-zuckerbergs-facebook-to-launch-digital-literacy-program-in-india/articleshow/70066803.cms">number of subscribers</a> ⁠— and in early trade, Reliance Industries (RIL) <a href="https://www.businessinsider.in/india/news/mukesh-ambanis-reliance-industries-stock-gets-a-50000-crore-facebook-boost/articleshow/75285485.cms">share price jumped up as much as 7.5%</a>. This is because Facebook’s Mark Zuckerberg has paid a certain premium for a stake in Reliance Jio. The investment has valued Jio at over half of RIL’s total market capitalisation as on April 21. Jio makes up for less than a tenth of RIL’s consolidated revenue which includes other segments like retail, petrochemicals, and oil and gas exploration to name a few. <div type="image" title="RIL" msid="75286310" hostid="261" caption="&amp;lt;p&amp;gt;Reliance Industries&amp;#39; share price today morning, April 22&amp;lt;/p&amp;gt;"></div> What is the real worth of Reliance Jio? On April 14, HDFC Securities valued Jio at ₹4.8 lakh crore. For every share of RIL which was worth around ₹1,400 then, JIo was estimated to be ₹811 — 57.9% of the market cap. Deven Choksey, the managing director of KR Choksey Shares &amp; Securities told Business Insider, on April 21, that he valued Jio at ₹550 rupees a share when RIL was trading at around ₹1200. Based on a market cap ₹7.8 lakh crore, Jio would be worth ₹3.4 lakh crore by Deven's estimate. At a <a href="https://www.businessinsider.in/business/news/facebook-picks-up-10-stake-in-jio-platform-for-rs-43574-cr/articleshow/75283937.cms">pre-deal value of ₹4.4 lakh crore</a>, Zuckerberg’s buy-in is about 33% higher than what Choksey had estimated on Tuesday. This explains why RIL’s shares have spiked in a market that’s bearing down due to the impact of Coronavirus. Why Facebook needs Jio The reason Zuckerberg’s investment makes sense is because Jio is likely to be the fastest-growing segment for Reliance in the post-COVID world. Even though the Reliance subsidiary is only three-and-a-half years old, it has stolen the top spot from others like Vodafone and Bharti Airtel to become the largest telecom player in the country making it an attractive buy-in for the US company. “The recent tariff hike should still allow Jio’s EBITDA (earnings before interest, tax, depreciation and amortization) to rise 78% YoY [year-on-year] in FY21. Strong telecom and a weaker rupee will offset big cuts in petrochemicals, refining and retail as FY21 EPS rises a small 1.6% YoY,” estimates capital market and investment group, CLSA. It’s also a way for Facebook to gain an edge in the Indian market which has largely been a duopoly between Facebook and Google when it comes to digital solutions for over a decade. The duopoly that has recently been threatened by ByteDance making inroads with its mobile apps like TikTok and Resso. Entering India hand-in-hand with Jio will give Facebook access to its 370 million subscribers. There are over 451 million active internet users in the country today with the number estimated to rise beyond 600 million in the coming year, according to Internet and Mobile Association of India (<a href="https://cms.iamai.in/Content/ResearchPapers/d3654bcc-002f-4fc7-ab39-e1fbeb00005d.pdf">IAMAI</a>). What does Asia’s second-richest man get from the deal? For Ambani, CLSA forecasts that big deals like the one between Ambani and Zuckerberg will help reduce the burden of debt on RIL, which was at about $22 billion ⁠— 2.7 times its EBITDA⁠— at the end of March 2019. CLSA expects that the ratio will fall to 1.7 times in FY22 even before the Jio-Facebook deal was announced. RIL’s plan to reduce its debt also included a stake sale in its energy business to Saudi Arabia’s Aramco. But the crash in crude oil prices has cast a shadow on the stake sale to Aramco. A fresh start for Facebook This could be a new chapter for Facebook who has been trying to crack the Indian market for a while, but precious ventures like FreeBasics and internet.org did not have the <a href="https://www.businessinsider.in/tech/news/mukesh-ambani-and-mark-zuckerberg-are-looking-to-create-a-wechat-like-super-app-says-report/articleshow/75174322.cms">expected outcome</a>. It also puts Facebook head-to-head against the likes of Japan’s SoftBank, which normally holds the title of being India’s largest tech investor with over $10 billion invested across the country in unicorns like Flipkart, Ola and OYO. See also: <a href="https://www.businessinsider.in/business/news/facebook-picks-up-10-stake-in-jio-platform-for-rs-43574-cr/articleshow/75283937.cms">Mark Zuckerberg's Facebook picks up 9.9% stake in Mukesh Ambani's Jio for $5.7 billion</a> <a href="https://www.businessinsider.in/india/news/mukesh-ambanis-reliance-industries-stock-gets-a-50000-crore-facebook-boost/articleshow/75285485.cms">Facebook’s investment in Reliance Jio boosts RIL share value by ₹50,000 crore</a>

Here's why Facebook's Mark Zuckerberg is paying top dollar for a stake in Mukesh Ambani's Reliance Jio

<ul><li><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s <keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword> has partnered with <keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> which many think is a bid to build the next <keyword id="3848715" type="PERSON" weightage="20" keywordseo="Super-app">super app</keyword> for India.</li><li>Historically, super app experiments in the country have not been sustainable.</li><li>Currently, it’s not known whether Jio or WhatsApp will be the new super app — or if it will be a new independent super app altogether.</li><li>Payments may be oil for e-commerce, but a lot of these uncertainties and questions will only be answered in the weeks and months to follow.</li></ul>In a bid to be India’s Alibaba, the country’s richest man Mukesh Ambani is attempting something where others have failed — building a super app. The <a href="https://www.businessinsider.in/tech/news/heres-why-facebooks-mark-zuckerberg-is-paying-top-dollar-for-a-stake-in-mukesh-ambanis-reliance-jio/articleshow/75286331.cms">$5.7 billion deal with Facebook</a> is another step by <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> towards a super app — an idea that hasn’t worked in India so far. Even if it takes off this time, there will be other uncomfortable questions for Ambani as well as his new friend <keyword id="6354630" type="PERSON" weightage="20" keywordseo="mark-zuckerberg">Mark Zuckerberg</keyword> who is looking to capture a big chunk of the millions of Indians who are yet to use the internet. <div type="image" title="pjote grid (6)" msid="75343777" hostid="261" caption="&amp;lt;p&amp;gt;A WhatsApp super app, a Jio super app, or a third new super app altogether — nobody really knows. The bigger question is why attempt building a super app in a country where, historically, super apps haven&amp;#39;t worked out.&amp;lt;/p&amp;gt;"></div> The Mittal experience Facebook and Reliance are not the first to try out the super app in India. Hike, an eight-year-old startup with 2 million weekly active users as of December 2019, had to pivot away from the super app idea after working on it for six years. “Do consumers want a super app on a super app is the question that we asked and in 2017, we concluded that was not going to be the future,” said <a href="https://www.businessinsider.in/tech/apps/news/exclusive-kavin-mittal-says-hike-will-look-to-make-money-this-year-heres-how/articleshow/73924944.cms">Kavin Mittal</a>, the founder and CEO of Hike, told Business Insider during an interview in February. <div type="Article" hostid="261" msid="73924944" title="Exclusive: Kavin Mittal says Hike will look to make money this year —here's how" mstype="2" mssubtype="0"></div> “Given that India is not like China — in that it’s open to competition from the world — building a super app wasn’t the way to go forward. In a market with very cheap 4G and good smartphones, the smartphone becomes the super app,” Mittal went on to explain. However, Mittal didn’t have the wide array of businesses that could leverage each other or the deep pockets like Ambani does. The difference in context for Ambani Reliance Jio is just one of the many businesses that Ambani owns — refining, petrochemicals, and retail being the other major segments ⁠— and he wants the super app to complement his vast network of <a href="https://www.businessinsider.in/business/ecommerce/news/from-reliance-jiomart-to-unicorns-and-other-startups-all-line-up-to-serve-kiranas-indias-mom-n-pop-stores/articleshow/75324026.cms">10,901 retail stores and sourcing prowess</a> to beat his primary competitors Amazon, Walmart-owned Flipkart and Future Retail. <div type="Article" hostid="261" msid="75290132" title="Jio, a 3-year old telecom company, is now bigger than HDFC, Infosys and ITC – and India's largest bank" mstype="2" mssubtype="0"></div> Further, Ambani who has been touting the phrase ‘data is the new oil’ for a few years now wants access to as much information on his users as possible. In the process, Jio, which was born as a mobile service provider just 3 years ago, has quickly added everything from movies to music to the upcoming services like e-commerce, and even <a href="https://www.businessinsider.in/reliance-jio-fired-up-as-mukesh-ambani-joins-hands-with-satya-nadellas-microsoft-to-challenge-jeff-bezos-in-india/articleshow/70641754.cms">virtual reality (VR) shopping.</a> Now, Ambani wants to bring 30 million small shops and business owners onto his new commerce platform, JioMart, in the next one year. Facebook brings the missing piece of the puzzle — WhatsApp, India’s most-used messaging service, and a motherload of user data from its 400 million monthly active users (MAUs) in India. “Not many telecoms in the world have this kind of ecosystem control — right from content to music to movies as well as having all the different apps within that ecosystem. What was missing was the commerce piece of it,” Tarun Pathak, an associate director at research analytics firm Counterpoint, told Business Insider. Both Zuckerberg and Ambani have another common grouse too. Their respective e-payments service, Jio money and WhatsApp payments, have not taken off in a big way so far. And as Akhil Handa, head of fintech at Bank of Baroda, told Business Insider, “Payments is oil for e-commerce.” <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[]]></cdata></div> “In my mind, WhatsApp Pay and Jio Money will all hopefully get rolled into one,” Vikram Sud, an independent director at DBS told <a href="https://www.businessinsider.in/tech/news/whatsapp-is-the-secret-sauce-in-the-deal-between-facebook-and-reliance-jio/articleshow/75296172.cms">Business Insider.</a> Together, they will have the muscle to disrupt a crowded payments market both in terms of money and a mammoth data bank to market itself optimally. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Users </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">WhatsApp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">400 million MAU* </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Facebook </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">250 million MAU </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jio </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">366 million subscribers </td></tr></tbody></table>*MAU: Monthly active users Size matters but not always Pathak believes that the success of the super app will depend on whether it can prove to be ‘sticky’ enough for users to stay. “In India, it’s about value for money. If I’m getting a good deal on a particular platform, it’s not going to matter whether I’m hooked to a particular super app or not,” explained Pathak. On the other hand, <a href="https://www.linkedin.com/in/vibar/?originalSubdomain=sg">Vibhu Arya</a>, the head partnerships &amp; big deals in South East Asia for Tencent-backed iPaylinks. predicts that the success of an app like this is pretty low. “A super app tied to a parent like Jio Telco and Reliance Retail defeats the very purpose of a super app ushering in conflict of interest for other sellers,” Arya told Business Insider. Right now, there isn’t clarity around the Reliance-Facebook concept of a super app. The world doesn’t know if it’s going to be on WhatsApp, if it’s going to be on Jio, or will it be an entirely new independent super app co-owned by both. “If WhatsApp becomes the super app and Reliance is only one of the many sellers, there’s no conflict. In an ideal scenario, if WhatsApp needs to build a super app — there is no advantage that Reliance brings to it,” Arya explained. Citing the example of WeChat, he said that anyone can set up a store on the platform — from a mom making pastries to international giants like Louis Vuitton. Consumers are chatting — they can build a relationship with a brand or a seller. Then they use payments within the app to complete the transaction. It’s essentially an operating system on a smartphone and customers don’t have any other options. A lot of these uncertainties and questions will only be answered in the weeks and months to follow. See also: <a href="https://www.businessinsider.in/tech/news/heres-why-facebooks-mark-zuckerberg-is-paying-top-dollar-for-a-stake-in-mukesh-ambanis-reliance-jio/articleshow/75286331.cms">Here's why Facebook's Mark Zuckerberg is paying top dollar for a stake in Mukesh Ambani's Reliance Jio</a> <a href="https://www.businessinsider.in/tech/news/whatsapp-is-the-secret-sauce-in-the-deal-between-facebook-and-reliance-jio/articleshow/75296172.cms">WhatsApp is the secret sauce in the deal between Facebook and Reliance Jio</a> <a href="https://www.businessinsider.in/business/startups/news/reliance-and-facebook-all-set-to-innovate-together-for-a-post-corona-world-their-startup-acquisitions-certainly-say-so/articleshow/75290353.cms">The Indian startups backed by Reliance Industries and Facebook have a lot in common</a>

To be India’s Alibaba, Mukesh Ambani wants a super app with Facebook⁠— but an all-in-one app is not known to work so far

New Delhi, Apr 22 () Facebook's move to pick up about 10 per cent stake in Jio Platforms will accelerate Jio's digital monetisation drive and put Reliance Industries (RIL) on course to turn net debt-free by March 2021, analysts said on Wednesday. "RIL had restructured its digital business into one consolidated wholly-owned subsidiary - Jio Platforms - which would host all the digital initiatives of the firm, including Jio digital services (mobile, broadband), apps, tech capabilities (AI, Big Data, IoT) and investments (like Den, Hathway)," Credit Suisse said in a note. It said that Facebook's investment into this entity will further Reliance Industries' digital initiatives and will help in deleveraging. "...The deal will aid in achieving net debt-free (target) by March 2021. As of December 31, 2019, net debt for the group stands at Rs 1,531 billion (Rs 1.53 lakh crore) and with Facebook's investment, this should put RIL on course to be net debt free by Mar-2021," it said. The announcement includes commencement of a partnership among JioMart (platform of RIL's new commerce initiative), Reliance Retail and WhatsApp, it noted. "Currently, new commerce is under purview of Reliance Retail and outside of Jio Platforms. The partnership will entail leveraging the messenger platform to facilitate new commerce transactions between a consumer and a kirana store," Credit Suisse said. In similar vein, Bernstein said the partnership is strategic for both companies. "The investment in Jio is one of the biggest investments Facebook can make. The transaction fits with their recent push to build themselves and experiment more and provides a closed network of 388 million users to test on, proof point around the already announced partnership to build and test a WeChat like app," it said. "Facebook has already launched WhatsApp as customer service/social commerce tool in India allowing brands and retails to talk directly to customers/prospects, this can strengthen that offering both for 60 million small merchants on JioMart but also for Reliance Jio itself," Bernstein added. Facebook on Wednesday announced an investment of USD 5.7 billion (Rs 43,574 crore) to buy a 10 per cent stake in the firm that houses billionaire Mukesh Ambani's telecom arm Jio as the social media giant looks to expand presence in its largest market in terms of subscriber base. "Today we are announcing a USD 5.7 billion, or Rs 43,574 crore, investment in Jio Platforms Ltd, part of Reliance Industries Ltd, making Facebook its largest minority shareholder," the company said in a statement. Reliance in a separate statement said the investment by Facebook values Jio Platforms at Rs 4.62 lakh crore pre-money enterprise value (USD 65.95 billion, assuming a conversion rate of Rs 70 to a US dollar). "Facebook's investment will translate into a 9.99 per cent equity stake in Jio Platforms on a fully diluted basis," it said. Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd (RIL), houses digital services of the group. Reliance Jio Infocomm Ltd, with 388 million subscribers, is a wholly-owned subsidiary of Jio Platforms. The Facebook deal is part of value unlocking by RIL to cut debt. RIL has been seeking strategic partnerships across its businesses while targeting to deleverage its balance sheet. MBI ANSANS

Facebook investment to accelerate Jio's digital monetisation drive: Analysts

New Delhi, Mar 25 () Social media major Facebook is reportedly planning to buy 10 per cent stake in the country's biggest telecom company Reliance Jio. Reliance Industries Limited had set a target to make its telecom services arm Jio debt-free by March 31, 2020. According to Financial Times, Facebook is looking at buying a multibillion-dollar stake in Reliance Jio which has been valued at USD 60 billion by analysts at Bernstein. Both Reliance Jio and Facebook did not comment on the report. The international financial daily said that the lockdown may have an impact on the timing of the deal. Reliance Industries (RIL) in October had announced to set up a new subsidiary to bring all its digital initiatives and apps under a single entity, and infuse Rs 1.08 lakh crore equity into this new unit. Jio apps like JioTV, JioCinema, JioNews etc are to be brought under this new entity in a move to consolidate digital platforms into an elegant capital structure to increase the attractiveness and simplify the structure for possible strategic investors. On March 18, RIL took over some of the debt of Reliance Jio but the company neither disclosed financial details of the transaction nor the names of creditors. In March last year, assets worth about Rs 1.25 lakh crore were demerged from RJIL to Infrastructure Investment Trusts (InvITs) aimed at optimising operational efficiencies and better monetisation of core digital connectivity platform, tower and fibre passive infrastructure. PRS MRMR

Facebook likely to buy 10% stake in Reliance Jio

Free <keyword id="6357247" type="PERSON" weightage="20" keywordseo="Internet">Internet</keyword> has become a phenomenon across the globe, but in markets like India, it still seems like a distant dream. However, now companies such as <keyword id="6354576" type="CITY" weightage="20" keywordseo="Facebook">Facebook</keyword> are trying to deliver this promise via Internet.org gateway, whose motto is ‘Internet for all.’ 
 Facebook has tied up with <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Communication (<keyword id="6368075" type="CITY" weightage="20" keywordseo="RCom">RCOM</keyword>) in India for this unique set of service that comes bundled with free usage of plethora of sites, including The Times of India, Facebook and OLX among others. 
 
Most importantly, one must understand that Internet.org and the services mentioned above are only available to Reliance customers (existing and new ones joining). “The app, aimed at low income and rural users, will offer access to more than 30 web services, including job listings, healthcare and education sites, as well as Facebook's own social network and messaging service, available to Android users,” as per the company. 
 
What’s interesting to note is that Facebook has diversified for the first time with its Internet.org initiative by offering several other products which are not affiliated to them and that could end up working in their favour. 
 
The limitation to one telecom operator marks the beginning of something big for Facebook and the Indian government, which envisages spreading ‘Digital India’ across the country via different channels. 
 
Internet.org is a step in the right direction but only when Facebook manages to tap into more telcos, then we can call their effort garnering success. 
 
Disclaimer: Business Insider India is a part of Times Internet, which also runs TOI.com.

Facebook and Reliance team up for
Internet.org in India

<ul><li>Facebook has bought 9.9% in Reliance Jio for $5.7 billion. </li><li>The bigger reason for the buy-in is how <keyword id="4878801" type="PERSON" weightage="20" keywordseo="whatsapp-pay">WhatsApp Pay</keyword> and Reliance Retail can use this partnership to help each other out. </li><li>The payments platform can use Reliance’s massive network of offline stores to monetise its data, while Reliance can use the ‘household’ name to finally yield success with a seamless payments system. </li></ul>Everyone is excited about the deal between Facebook and Reliance Jio in hope that it will result in a new ‘super app’ for India. However, the partnership between Facebook and Reliance Jio has a few more layers than what is visible at first glance. The secret sauce to this deal is the potential for Facebook’s payment solutions — <a href="https://www.businessinsider.in/whatsapp-payments-launching-in-india-against-paytm-google-pay-phone-pe-for-1-trillion-opporunity/articleshow/70376672.cms">WhatsApp Pay</a>. And, this is the reason why <keyword id="6354630" type="PERSON" weightage="20" keywordseo="mark-zuckerberg">Mark Zuckerberg</keyword> is <a href="https://www.businessinsider.in/tech/news/heres-why-facebooks-mark-zuckerberg-is-paying-top-dollar-for-a-stake-in-mukesh-ambanis-reliance-jio/articleshow/75286331.cms">paying top dollar for a stake</a> in <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s Reliance Jio. “Our goal is to enable new opportunities for businesses of all sizes, but especially for the more than 60 million small businesses across India,” said Facebook’s chief revenue officer, David Fisher, and the VP and managing director of India, Ajit Mohan in a <a href="https://about.fb.com/news/2020/04/facebook-invests-in-jio/">post.</a> Zuckerberg’s social network has <a href="https://www.businessinsider.in/business/news/facebook-picks-up-10-stake-in-jio-platform-for-rs-43574-cr/articleshow/75283937.cms">bought a 9.9% stake</a> in Reliance’s telecom venture for $5.7 billion. However, the second richest man in India — Mukesh Ambani — also owns the country’s biggest retail chain, Reliance Retail. It will now be a force of power to ensure that WhatsApp Pay has a chance of success in the Indian market despite being such a late entrant. “PayTM, PhonePe and other players will be impacted. They don’t have as much e-commerce as these guys will have. That will make a big difference,” Vikram Sud, an independent director at DBS told Business Insider. Retaining employment at brick-and-mortar stores rather than wipe it out “This is an amazing partnership on the payments side. Whatsapp Pay did not have the commercial sides of it as Whatsapp was trying to creep into the business. Now, between Whatsapp, Instagram and Facebook — all the commerce can be done through Whatsapp Pay,” said Sud. Jio’s plan to <a href="https://www.businessinsider.in/business/news/mukesh-ambani-owned-reliance-retail-revenue-estimate-from-kirana-stores/articleshow/71643159.cms">pull all kirana stores</a> and combine it with this payment mechanism will be a massive competition to Amazon and all other e-commerce players. You will get delivery from local stores while also helping them retain their employment unlike the advent of Amazon and Walmart, who have been <a href="https://www.businessinsider.in/if-were-living-through-a-retail-apocalypse-why-are-e-commerce-leaders-like-amazon-alibaba-and-jd-com-so-focused-on-building-brick-and-mortar-stores/articleshow/70849067.cms">chipping away</a> at the brick-and-mortar business. “By bringing together JioMart, Jio’s small business initiative, with the power of WhatsApp, we can enable people to connect with businesses, shop and ultimately purchase products in a seamless mobile experience,” said Facebook. And that’s the play that global IT giant is primarily aiming for, according to a senior industry analyst. They weren’t able to monetise it but that doesn’t change the fact that they're sitting on a huge pile of data. This is something they will now be able to leverage and monetise by using Jio Mart's reach. It’s a win-win situation for Ambani and Zuckerberg “In my mind, Whatsapp Pay and Jio money will all hopefully get rolled into one. It will just make it quicker since there is nobody in India that doesn't have WhatsApp,” said Sud. WhatsApp has been testing its payments platform in India since 2018. It was only available to a million users under a partnership with ICICI Bank. However, the <a href="https://www.businessinsider.in/tech/news/whatsapp-spyware-hack-raises-security-concerns-around-its-upcoming-payments-service/articleshow/71888781.cms">concern for policymakers</a> was whether not it will be responsible to allow a social messaging app — known for being a vehicle of fake news or what’s more commonly called the ‘WhatsApp University’ — to also integrate payments into its platform. In February this year, two years after the company’s first trial, WhatsApp finally got the <a href="https://www.businessinsider.in/tech/news/india-whatsapp-pay-global-rollout-zuckerberg/articleshow/73760554.cms">approval </a>to roll out its digital payment service in a phased manner. In the first phase, it will offer its payment services to 10 million users in the country. See also: <a href="https://www.businessinsider.in/india/news/mukesh-ambanis-reliance-industries-stock-gets-a-50000-crore-facebook-boost/articleshow/75285485.cms">Facebook’s investment in Reliance Jio boosts RIL share value by ₹50,000 crore</a> <a href="https://www.businessinsider.in/tech/news/heres-why-facebooks-mark-zuckerberg-is-paying-top-dollar-for-a-stake-in-mukesh-ambanis-reliance-jio/articleshow/75286331.cms">Here's why Facebook's Mark Zuckerberg is paying top dollar for a stake in Mukesh Ambani's Reliance Jio</a>

WhatsApp is the secret sauce in the deal between Facebook and Reliance Jio

<ul class="summary-list"><li><keyword id="6354576" type="UNKNOWN" weightage="60" keywordseo="facebook">Facebook</keyword> announced it would invest $5.7 billion in <keyword id="6354504" type="DEFINITION" weightage="60" keywordseo="reliance-jio">Reliance Jio</keyword>, <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s popular mobile internet service.</li><li>The multi-billion-dollar stake makes Facebook the largest minority shareholder in the internet service, which is a part of Reliance Industries Limited.</li><li>In the past three years, <keyword id="2003276" type="PERSON" weightage="60" keywordseo="Jio">Jio</keyword> has brought hundreds of millions of people in the country online, making the country a vital market after India "overtook the US last year to become the world's second-largest smartphone market after China by unit shipments," The Financial Times reported.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Facebook announced Tuesday that it would invest $5.7 billion in Reliance Jio, India's popular mobile internet service that brought hundreds of millions in the country online in three years.The multi-billion-dollar stake makes Facebook the largest minority shareholder in the internet service, which is a part of Reliance Industries Limited."This investment underscores our commitment to India, and our excitement for the dramatic transformation that Jio has spurred in the country," Facebook said in a statement. "In less than four years, Jio has brought more than 388 million people online, fueling the creation of innovative new enterprises and connecting people in new ways."The Financial Times <a href="https://www.ft.com/content/a1ca0569-7ef7-49c8-b88e-72b792eefc62">first reported</a> that Facebook was eyeing the investment back in late March, as Reliance's burden of debt grew after expanding Jio. The Facebook-Jio deal is part of an effort aimed at relieving the company of its debt by March of next year, according to The Financial Times report.Facebook said one focus of the collaboration will be to create "new ways for people and businesses to operate more effectively in the growing digital economy," like supplementing Jio's small business initiative with the "power of WhatsApp" to help businesses and shop connect on a larger scale."They account for the majority of jobs in the country, and form the heart and soul of rural and urban communities alike," the statement read. "In the face of the coronavirus, it is important that we both combat this global pandemic now, and lay the groundwork to help people and businesses in the years to come."Read the original article on <a href="https://www.businessinsider.com/facebook-invests-in-jio-india-mobile-internet-service-2020-4">Business Insider</a>

Facebook to invest $5.7 billion in Reliance Jio, India's popular mobile internet service

<a href="https://www.gettyimages.com/detail/news-photo/facebook-ceo-mark-zuckerberg-speaks-during-the-f8-facebook-news-photo/1146088646?adppopup=true">Justin Sullivan/Getty Images</a>Facebook CEO Mark Zuckerberg speaks during the F8 Facebook Developers conference on April 30, 2019 in San Jose, California.<ul class="summary-list"><li>Facebook is looking to make a multibillion-dollar investment in Indian telco Reliance Jio.</li><li>That's according to a report from The Financial Times on Tuesday, which added that plans been disrupted by COVID-19.</li><li>Reliance Jio has helped millions of Indians come online for the first time with its low-cost plans.</li><li>Analysts have estimated that it's worth as much as $60 billion - meaning Facebook could be looking to invest $6 billion.</li></ul>Facebook is mulling a multibillion-dollar investment in a major Indian telecoms firm to help boost its international expansion.On Tuesday, <a href="https://www.ft.com/content/a1ca0569-7ef7-49c8-b88e-72b792eefc62">The Financial Times reported that the Silicon Valley-based social networking giant has been in talks to invest a 10% stake in Reliance Jio</a> - but that coronavirus restrictions means negotiations have "stalled."Reliance Jio, which is controlled by Mukesh Ambani, India's wealthiest man, has been valued at $60 billion by analysts - indicating that Facebook might be considering investing as much as $6 billion. A company spokesperson declined to comment to Business Insider.The news of the deal highlights how Facebook is still keen to expand its operations abroad - particularly in India, which has become a key location for its messaging app WhatsApp - even as it faces regulatory and antitrust scrutiny in the US. And it also shows how the COVID-19 outbreak and associated government lockdowns are proving immensely disruptive to business around the globe.Reliance Jio has been instrumental in helping millions of Indians come online for the first time, <a href="https://www.businessinsider.com/reliance-jio-millions-of-indians-online-reshaped-internet-2019-8?r=US&amp;IR=T">as Business Insider's Shona Ghosh previously reported</a>: "The network was founded by the Indian billionaire Mukesh Ambani, and the telecom went from having zero customers to becoming the biggest mobile operator in the world, with more than 300 million subscribers. To put this in context, Reliance Jio's customer base is about as big as the entire US population."Jio's radical move was this: making 4G available to millions of Indians for free in 2016. It began charging nominal amounts for data in 2017 and, by then, the Indian appetite for internet content knew no bounds in part thanks to the availability of budget Android smartphones. Initially, Jio made no money, <a href="https://www.businessinsider.in/reliance-jio-and-reliance-retail-may-help-mukesh-ambani-rils-quarterly-earnings/articleshow/70274830.cms">but it has now become profitable</a>." <h3>NOW WATCH: <a href="https://www.businessinsider.com/bidets-better-than-using-just-toilet-paper-2019-9">Why bidets are better than buying countless rolls of toilet paper</a></h3>

Facebook is reportedly considering investing billions of dollars in an Indian telecom giant to boost its international growth

New Delhi, Apr 22 () Setting a new benchmark in dealmaking, the USD 5.7 billion investment by Facebook in Reliance Industries' Jio Platforms saw a bulk of the active M&amp;A dialogue, including for due diligence and agreement negotiations, happening remotely, bankers and advisors involved in the transaction said. This is one of the biggest deals that has taken place when there is a nationwide lockdown in India while same is the case for most states in the US -- the two countries where the two parties of this deal are based. The deal, which gives unlisted Jio Platforms an enterprise value of close to USD 66 billion, will help its listed parent firm Reliance Industries cut debt and also use Facebook's popular messaging platform WhatsApp as a front-end for creating an Indian e-commerce giant that could rival global giants like Amazon and Walmart. While Bank of America was the exclusive financial advisor to Facebook for this transaction, Morgan Stanley advised Reliance Industries. AZB &amp; Partners and Davis Polk &amp; Wardwell acted as counsels for RIL, while Shardul Amarchand Mangaldas was legal advisor for Facebook. Bankers involved in the deal said the active deal-specific dialogue had been going on for a few months before it became public, but broader discussion between Reliance Industries and Facebook was happening for much longer, which had started on talks for doing something together and then moved on towards getting to know each other and building the trust. "For last two months, much of the discussion, a large part of due diligence, agreement negotiations, etc, all of that have happened remotely. Even some board meetings have happened remotely. Once the active M&amp;A dialogue began, most of that has happened remotely," a top banker said. Traditionally, deals of this magnitude, especially cross-border ones, involve extensive travel and physical visits to offices and facilities by top executives as well as financial and legal advisors from both sides for an all-round vetting, including of books of accounts and financial statements. Another banker said the deal discussions from Facebook's side were mostly driven by the social media giant's finance and M&amp;A teams, while legal teams were also involved actively. The overall business leadership team of Facebook was mostly involved in discussions at the back-end with various top stakeholders of Reliance Industries group, the banker said. Reliance Industries' Chairman and Managing Director Mukesh Ambani said Reliance Jio and Facebook will look to use WhatsApp for delivering goods from local neighbourhood kirana stores to consumers before expanding collaboration into education and healthcare sectors. "The combined power of Jio's world-class digital connectivity platform and Facebook's intimate relationship with the Indian people will offer innovative new solutions to each one of you," Ambani said. "In the very near future, JioMart -- Jio's digital new commerce platform, and WhatsApp will empower nearly three crore small Indian kirana shops to digitally transact with every customer in their neighbourhood," he said. WhatsApp has over 400 million users in India while Jio has 388 million-plus phone subscribers. Facebook itself has about 250 million users in India. The bankers said the deal gives an opportunity to Facebook to establish a broader partnership in India as the country is very important for the global giant and it sees a long growth horizon in Jio, both in terms of mobile and fixed broadband businesses. During the discussions, Facebook was also impressed with the way 'Jio Homes' is connecting houses with fibre broadband and it has become even more important during the ongoing lockdown to have good fibre connection. Besides, Facebook sees a great value in a suite of apps and OTT (over the top) platforms that Jio has created, the bankers said. Facebook is also excited about a proposed collaboration between WhatsApp and Jio Mart, where it sees the messaging platform becoming a front-end technology partner for Jio Mart, among various other long-term growth opportunities. WhatsApp users would be effectively able to shop what they want, using the backend of Jio Mart. Facebook itself is not in the business of setting up stores or warehouses or moving goods etc. The deal can see Facebook and WhatsApp customer in India getting connected to retailers across the country. Another person involved in the deal said it does not put Facebook in direct competition with Amazon, Walmart or Flipkart, but Jio Mart is clearly competing with those e-commerce platforms. He clarified Facebook itself is not creating a new app or platform, but WhatsApp itself is moving towards becoming a tool for e-commerce. The bankers ruled out any immediate plans for Facebook increasing the stake from 9.99 per cent. BJ RAM

You Searched For "Reliance Facebook" and got 13 results

After Facebook, Reliance in talks with other investors to offload more stake

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Mark Zuckerberg's Facebook picks up 9.9% stake in Mukesh Ambani's Jio for $5.7 billion

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Mukesh Ambani and Mark Zuckerberg are looking to create a WeChat like super-app says report

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Here's why Facebook's Mark Zuckerberg is paying top dollar for a stake in Mukesh Ambani's Reliance Jio

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To be India’s Alibaba, Mukesh Ambani wants a super app with Facebook⁠— but an all-in-one app is not known to work so far

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Facebook investment to accelerate Jio's digital monetisation drive: Analysts

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Facebook investment to accelerate Jio's digital monetisation drive: Analysts

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Facebook likely to buy 10% stake in Reliance Jio

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Facebook and Reliance team up for Internet.org in India

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WhatsApp is the secret sauce in the deal between Facebook and Reliance Jio

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Facebook to invest $5.7 billion in Reliance Jio, India's popular mobile internet service

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Facebook is reportedly considering investing billions of dollars in an Indian telecom giant to boost its international growth

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Dealmaking in times of corona: Facebook-Jio sets new benchmark for remote negotiations

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