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<keyword id="19906886" type="General" weightage="20" keywordseo="jio" source="keywords">Jio</keyword> continues the tradition of <keyword id="20440185" type="General" weightage="20" keywordseo="valentine" source="keywords">Valentine</keyword>'s Day banter with competition. In a bold and cheeky move this Valentine's Day, Jio has extended an unexpected invitation to <keyword id="19896909" type="General" weightage="20" keywordseo="airtel" source="keywords">Airtel</keyword> 'Ex'stream' users, playfully asking them to "switch to love" implying moving on to JioAirFiber. Under the guise of a romantic proposition, Jio's tweet cleverly uses the love language to propose that heart is where the home is and home is where JioAirFiber is. February 14 every year is celebrated as Valentine's Day. "Dear @airtelindia users, This Valentine's, don't ignore the 'RED' flags in your relationship. It's time to move on from your 'Ex'-stream. Here's my number 60008-60008. Call me maybe," Reliance Jio posted on X, tagging Airtel India's X handle. Needless to say the 'RED' flag in the tweet implies the red color of Airtel nudging its users to make Airtel its 'Ex' and choose JioAirFiber over <keyword id="20371132" type="General" weightage="20" keywordseo="xstream" source="keywords">Xstream</keyword>. The tweet has sparked a flurry of reactions across social media platforms, blurring the lines between a marketing pitch and a genuine challenge to its rival. This creative approach by Jio not only capitalizes on the spirit of Valentine's Day but also nudges a competitive edge over Airtel, suggesting that never ignore the Red flags in love and network choices. The inclusion of a direct contact number, alongside playful hashtags, adds a personal touch to the challenge, inviting users to reconsider their current network provider in favor of Jio's services. Last year, with 5G being the talk of the town, Jio's cheeky tweet on valentine's day was about choosing 'True' love and not settling with a 'Plus' one. The industry observers watch closely the evolving dynamics of telecom rivalry and customer engagement strategies. Is it merely a playful jest, or does it signify a deeper strategic challenge? Either way, Jio's Valentine's Day tweet has undoubtedly added an intriguing twist like always in the past to the tale of telecom giants, blending romance with rivalry in the spirit of competition and choice. In addition, RIL posted Valentine day invitation inviting social media users to show love by liking, following and subscribing to RIL on YouTube, X, Instagram, LinkedIn, and Facebook. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/using-ai-to-impress-someone-this-valentines-nearly-50-say-they-will-be-offended/articleshow/107656212.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/using-ai-to-impress-someone-this-valentines-nearly-50-say-they-will-be-offended/articleshow/107656212.cms" target="_blank">Using AI to impress someone this Valentine’s? Nearly 50% say they will be offended</a><a href="https://www.businessinsider.in/tech/mobile/news/poco-oneplus-top-indian-smartphone-shipment-growth-but-overall-reading-flat/articleshow/107681294.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/poco-oneplus-top-indian-smartphone-shipment-growth-but-overall-reading-flat/articleshow/107681294.cms" target="_blank">Poco, OnePlus top Indian smartphone shipment growth but overall reading flat</a><a href="https://www.businessinsider.in/stock-market/news/entero-healthcare-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/107664277.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/entero-healthcare-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/107664277.cms" target="_blank">Entero Healthcare Solutions IPO allotment – How to check allotment, GMP, listing date and more</a>

Love is in the air:  Jio asks out Airtel users on a Valentine's date

<ul><li><keyword id="8372" type="General" weightage="100" keywordseo="akash" source="Orion">Akash</keyword> <keyword id="10924" type="General" weightage="80" keywordseo="ambani" source="Orion">Ambani</keyword> is the elder son of one of India’s richest businessmen Mukesh Ambani; and the only Indian to debut on Time Magazine’s Next 100 List. </li><li>During the 2022 Reliance Industries’ annual general meeting, he announced the launch of Jiofibre and virtual PCs. </li><li>Akash Ambani will head India’s largest telecom operator and is one of the heirs of <keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>’s<a href="https://www.bloomberg.com/billionaires/profiles/mukesh-d-ambani/"> $80.5 billion empire</a>. </li></ul>He may have become the new boss of <keyword id="6354504" type="General" weightage="50" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> – India’s largest telecom operator – recently, but Akash Ambani has been prepping for the top job from birth. As the grandson of <keyword id="6418409" type="General" weightage="50" keywordseo="dhirubhai-ambani" source="Orion">Dhirubhai Ambani</keyword> and son of Mukesh Ambani, the Junior Ambani has always had big shoes to fill, but he seems to be stepping into them quite effortlessly. He is also keeping the family tradition of breaking into lists by becoming the only Indian to enter the Time Magazine’s Next 100 list. Time’s Next 100 list essentially puts the spotlight on emerging leaders who are shaping the world of business, sports, finance, entertainment, politics, science, health, and activism. The list also features the likes of American singer SZA, actress Sydney Sweeney, basketball player Ja Morant, Spanish tennis player Carlos Alcaraz, actor and television personality <keyword id="945810" type="General" weightage="50" keywordseo="keke-palmer" source="Orion">Keke Palmer</keyword>, and environment activist Farwiza Farhan. Not surprisingly, the scion of the Ambani family has made it as an A-lister, given the mantle he holds as the Chairman of Reliance <keyword id="2003276" type="General" weightage="50" keywordseo="jio" source="Orion">Jio</keyword> with 426 million users. One of the heirs of <a href="https://www.bloomberg.com/billionaires/profiles/mukesh-d-ambani/">Mukesh Ambani’s $80.5 billion empire</a>, the 30-year-old has his work cut out, as the company looks to launch 5G services later this year. Akash is married to <keyword id="6296629" type="General" weightage="50" keywordseo="shloka-mehta" source="Orion">Shloka Mehta</keyword>, who hails from one of the richest diamond families of India. The Ambani family welcomed their first grandchild, <keyword id="10488859" type="General" weightage="50" keywordseo="prithvi-ambani" source="Orion">Prithvi Ambani</keyword>, in 2020. Reliance Jio has been touted as one of the fastest growing companies in the world and Akash has reportedly played a key role in bringing marquee investors and global giants like Facebook, Catterton, Silver Lake and General Atlantic to the company. Akash Ambani’s journey of becoming one of the most influential next-gen leaders began only four years ago, when he gave his first public address at the India Digital Open Summit. “Our chairman believes India is on a path to be a technology innovation leader and technology superpower. We are fortunate to be living in India, where we have a vision for Digital India. At Jio we believe AR/VR will grow at 50% CAGR for next 5 years,” said Akash Ambani, who was 26 years old at the time. On June 27 2022, Reliance Chairman Mukesh Ambani handed over the reins of the empire to his eldest son <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambani-steps-down-as-director-of-reliance-jio-akash-ambani-appointed-chairman/articleshow/92521472.cms">Akash Ambani</a>. Referring to the next generation Ambanis — Isha, Akash and Anant — Mukesh Ambani said at the company’s 45th annual general meeting, “All three have fully inherited our founder's mindset. They are first among equals in a young team of leaders and professionals who are already doing amazing things at Reliance.” Akash Ambani’s ambitious plan to launch virtual PCs in India Reliance Jio Infocomm (RJIL), a subsidiary of RIL, is the largest telecom operator in India. From less than 700 professionals a few years ago, the RJIL team has grown rapidly to over 10,000 professionals today. “With 5G being rolled out in India, the current 800 million connected internet devices will double to 1.5 billion connected internet devices in just a year,” said Akash Ambani at the latest annual general meeting. The 30-year-old also announced the launch of ‘<a href="https://www.businessinsider.in/tech/enterprise/news/jio-airfiber-to-offer-cloud-pc-services-soon/articleshow/93857295.cms">virtual PC</a>’ through the launch of Jio AirFiber giving a boost to AI-enabled services in India. “5G gives ultra-high fibre-like speed over the air without any wires. We are calling it JioAirFiber. With JioAirFiber, it will be really easy to quickly connect your home or office to Gigabit-speed Internet,” he said. Investing ₹2 lakh crore, the next-generation Ambani will also head the implementation of 5G services in India – the latest version called standalone 5G sans dependence on 4G network. Challenges for Ambani junior while heading Reliance Reliance Jio offers its services at affordable tariffs, a dream that the founder of Reliance Industries had of offering telecom services at the rate of a postcard. While Akash Ambani’s father delivered on that promise, the 30-year old scion will have his job cut out as the company looks to launch its ambitious 5G services this Diwali. The company faces competition from the Sunil Mittal-helmed Airtel. Interestingly, Airtel is a professionally run company and both of Mittal’s sons pursue their own business interests. An avid sports nut Apart from heading the most ambitious projects in the world, Akash is known to have a keen interest in sports and premium cars. Akash’s first public appearance was at a Mumbai Indians cricket match as the company bought the team <a href="https://www.republicworld.com/sports-news/cricket-news/ipl-mega-auction-which-teams-were-sold-in-the-2008-inaugural-edition-and-at-what-prices.html">for $111.9 million back in 2008</a>. He is an avid cricket fan and can be seen regularly leading auctions to filter through the players for the Mumbai Indians IPL league. Ambani Junior is also a fan of the Arsenal football club. In 2016, he got to play in his private football area with Arsenal’s former forward Thierry Henry. Alongside sports, Akash has a legion of premium cars like Bentley Bentayga, Range <keyword id="5160615" type="General" weightage="50" keywordseo="rover-vogue" source="Orion">Rover Vogue</keyword>, BMW 5-Series, Lamborghini Urus, Rolls Royce Phantom Drophead Coupe and Maybach 62 to list a few. The passion for fancy wheels comes from both his parents. The road to living up to the name of “industry royalist” is long but Akash Ambani’s blueprint for Reliance is being closely watched by the world. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/9-in-10-indian-leaders-question-employees-productivity-in-hybrid-work/articleshow/94529650.cms">9 in 10 Indian leaders question employees' productivity in hybrid work</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-greens-54-rally-tempts-totalenergies-to-book-profits/articleshow/94529227.cms">Adani Green’s 54% rally this year tempts TotalEnergies to book profits</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/people-want-bigger-homes-and-reopening-offices-schools-hasnt-altered-this-trend/articleshow/94512938.cms">People want bigger homes and reopening offices, schools hasn’t altered this trend</a>

Akash Ambani’s keeping up the family tradition of breaking into global lists

<ul><li><keyword id="8506093" type="General" weightage="100" keywordseo="jiomart" source="Orion">JioMart</keyword> has announced a partnership with social media giant Meta.</li><li>As part of this partnership, users will be able to shop on JioMart using <keyword id="790242" type="General" weightage="20" keywordseo="whatsapp" source="Orion">WhatsApp</keyword>.</li><li>Here’s how you can use WhatsApp to place an order on JioMart.</li></ul>Reliance Industries held its 45th annual general meeting yesterday and one of the major announcements was the partnership between JioMart and Meta. As part of this, users will be able to shop on the e-commerce platform JioMart using WhatsApp. Users will be able to use WhatsApp to place an order on the JioMart by browsing catalogues and viewing the live prices. “Excited to launch our partnership with JioMart in India. This is our first-ever end-to-end shopping experience on WhatsApp -- people can now buy groceries from JioMart right in a chat. Business messaging is an area with real momentum and chat-based experiences like this will be the go-to way people and businesses communicate in the years to come,” Mark Zuckerberg, chief executive officer, Meta said in a Facebook post. <cmsannotation type="cmsannotation" annotationid="How to place an order on JioMart using WhatsApp" comment="subhead" text="How to place an order on JioMart using WhatsApp">How to place an order on JioMart using WhatsApp</cmsannotation> Here’s how you can place an order on JioMart using WhatsApp. <div type="image" title="JioMart" msid="93871323" hostid="261" sizebytes="53132" caption="&amp;lt;p&amp;gt;You can now easily place a JioMart order using WhatsApp&amp;lt;/p&amp;gt;"></div> <ul><li>To begin, you need to save JioMart’s number +917977079770 on your phone or click on this <a href="https://wa.me/c/917977079770">link</a>. </li><li>Now, send “Hi” to this number. </li><li>Then, click on “Get Started”. </li><li>Now, click on “View catalog”. </li></ul><div type="image" title="2" msid="93871331" hostid="261" sizebytes="56684" caption="&amp;lt;p&amp;gt;Products on JioMart&amp;lt;/p&amp;gt;"></div> <ul><li>You can now browse through various categories of products such as fruits and vegetables, staples, branded foods and more. </li></ul><div type="image" title="3" msid="93871353" hostid="261" sizebytes="59124" caption="&amp;lt;p&amp;gt;Placing a JioMart order on WhatsApp&amp;lt;/p&amp;gt;"></div> <ul><li>Click on the plus sign next to a product to add it to your cart. </li><li>Once you have added all the required products, click on “SEND TO BUSINESS”. </li><li>Now, click on “Provide address”. </li></ul><div type="image" title="4" msid="93871371" hostid="261" sizebytes="42964" caption="&amp;lt;p&amp;gt;Address and payment options&amp;lt;/p&amp;gt;"></div> <ul><li>Then, select the address where you want the products to be delivered and click on “Send address”. </li><li>Then, click on “Confirm” to confirm your address. </li><li>If you wish to change your address, click on “Add/Change Address”. </li><li>Now, you need to pay for your products. </li><li>You can choose from cash on delivery, pay on JioMart and pay on WhatsApp. </li></ul>Once you have completed the payment, the order will be confirmed, and you will receive it as scheduled. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/samsung-is-reportedly-working-on-a-dual-screen-phone-with-a-transparent-display/articleshow/93849845.cms">Samsung is reportedly working on a dual screen phone with a transparent display</a> <a href="https://www.businessinsider.in/business/corporates/news/gautam-adani-is-now-the-third-richest-person-in-the-world-as-per-bloomberg/articleshow/93868294.cms">Gautam Adani is now the third richest person in the world, only behind Elon Musk and Jeff Bezos</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-set-to-launch-true-5g-services-this-2022-diwali/articleshow/93854727.cms">Jio set to launch True 5G services across major Indian cities this Diwali</a>

How to use JioMart on WhatsApp

Ordering groceries, vegetables and daily essentials is just a WhatsApp away as billionaire <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>'s e-commerce platform <keyword id="8506093" type="General" weightage="100" keywordseo="jiomart" source="Orion">JioMart</keyword> taps into the popular messaging app to scale up online business in its fight for dominance in the giant Indian retail market with Amazon and Walmart-owned Flipkart. <keyword id="10924" type="General" weightage="20" keywordseo="ambani" source="Orion">Ambani</keyword>'s twin children, Akash and Isha gave a preview of the ordering at Meta's second edition of the Fuel for India event on Wednesday. A new 'tap and chat' option allows users to order groceries through WhatsApp. Delivery is free and there is no minimum order value. Customer can fill their shopping carts within the app and pay either via JioMart or in cash on delivery. "The JioMart experience through WhatsApp is actually, very simply put - 'conversational' in nature. WhatsApp is extremely simple and easy to use; So there's no customer inhibition when ordering for supplies," said Akash. It's extremely intuitive - so there are no barriers to technology. "And digital shopping is now just an extension of messaging via WhatsApp to JioMart, it's all taken care of in a couple of steps effortlessly." Isha said all a customer needs to do is just order away on JioMart. "Bread, butter, vegetables, beverages, everything that you need in your household that day or that week... look up a product, set up a subscription for a regular buy if that's what you want, or get personalized recommendations based on your past purchase history, it's all there," she said. Facebook, now known as Meta, in April last year invested $5.7 billion for a 9.99 per cent in <keyword id="2003276" type="General" weightage="50" keywordseo="jio" source="Orion">Jio</keyword> Platforms, the digital and telecom arm of Ambani's <keyword id="105301" type="General" weightage="20" keywordseo="reliance-industries-ltd-" source="Orion">Reliance Industries Ltd.</keyword> The partnership was aimed at connecting over 400 million WhatsApp users and half a million retailers that Reliance has on its network. And playing a catalyst is cheap data that 425 million subscribers of <keyword id="6354504" type="General" weightage="20" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> get. The orders are executed using the network of <keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword>, the biggest brick-and-mortar store chain. Also, repaid users of Reliance Jio can recharge using WhatsApp. "As Jio and Meta teams work closely, we are opening more and more avenues of working together. One such avenue is Jio on WhatsApp, which is simplifying the entire 'prepaid recharge'," Akash said. This, he said, will bring consumers convenience like they've never had before. "Yes, it makes it very simple for anybody to adopt. For example, for older citizens who at times may find it difficult to head outside, this Jio recharge feature through WhatsApp is so helpful! And payments on WhatsApp adds to that ease!" Isha said. Akash said it is really exciting how the end-to-end experience for Recharge through WhatsApp along with the ability to make payments can potentially make the lives of millions of Jio subscribers much more convenient. JioMart delivers from fruits and vegetables to cereal, toothpaste and cooking staples like panner and chickpea flour ordered through WhatsApp. Food and groceries account for nearly half of India's retail spending, which is projected to reach as much as $1.3 trillion by 2025, according to Boston Consulting Group. Interconnected to the entire scheme is Jio's low-priced smartphone that it is offering in association with Google. The phone comes preloaded with the JioMart and WhatsApp apps. Last year, Google invested $4.5 billion for a 7.73 per cent stake in Jio Platforms Ltd. "We believe that small businesses are the bedrock of our country's economic backbone. The pandemic really brought home the truth that small merchant shops, retailers, and small businesses urgently needed to convert their physical brick and mortar stores to digital storefronts," Isha said. The partnership with Meta allowed to quickly leverage the strength of the WhatsApp platform that provides access to over 400 million people. "With an equal number of Jio subscribers it seemed like a natural progression for us to be able to support these businesses not only through a digital connection with their customers online, but also to quickly develop and build very specific digital-commerce solutions," she said. Akash said JioMart currently has over half a million retailers and is growing every day. "We were very clear that the JioMart's unmatched network - both in online and offline retail should be leveraged optimally, given the size of the opportunity." "We continue to be so excited about our partnership with Meta and in collaboration with the WhatsApp team, we intend to build out native features that will not only help users shop seamlessly on WhatsApp but will also help retailers increase stock assortments, improve margins and get them closer to perhaps a larger base of customers, like never before. "They will be able to get new orders in addition to keeping their relationships with their regular user base intact," he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/apple-working-on-prototypes-of-foldable-devices-but-may-see-one-only-in-2024/articleshow/88298981.cms">Apple working on prototypes of foldable devices, but may see one only in 2024</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/india-makes-a-10-billion-bet-to-woo-chip-makers-at-home/articleshow/88298295.cms">India makes a $10 billion bet to woo chip makers at home</a>

JioMart taps WhatsApp to deliver groceries, vegetables

<ul><li>The Competition Commission of India has approved Facebook’s $5.7 billion acquisition in Jio Platforms.</li><li>The social media giant has acquired 9.99% in Mukesh Ambani-led Jio Platforms.</li></ul>The Competition Commission of India (<keyword id="47183" type="ORGANIZATION" weightage="20" keywordseo="CCI">CCI</keyword>) on Wednesday said it has approved Facebook's proposed acquisition of 9.99 per cent stake in Jio Platforms. In April, Facebook announced an investment of USD 5.7 billion (Rs 43,574 crore) in Jio Platforms. The acquisition was to be done through Jaadhu Holdings LLC. In a tweet, the CCI said it has approved "acquisition of 9.99 per cent stake in Jio Platforms by Jaadhu Holdings LLC". SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-gets-1-5-billion-from-saudi-for-jio-even-as-the-15-billion-aramco-deal-waits-in-the-wings/articleshow/76444365.cms">Reliance gets $1.5 billion from Saudi for Jio even as the $15 billion Aramco deal waits in the wings</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-airtel-share-price-may-gain-as-broadband-plan-rates-fall/articleshow/76525187.cms">Home broadband bills could come down if government cuts its share⁠ — big boost for Reliance Jio and Airtel</a> <a href="https://www.businessinsider.in/business/news/reliance-may-break-up-with-ipos-of-jio-retail-business/articleshow/76548936.cms">Reliance could soon be ready with the IPOs of Jio and its retail business</a>

Facebook's 9.99% stake purchase in Jio Platforms gets CCI nod

<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>

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