Quick Answer: Why Did Mark Zuckerberg Invested In Jio?

How much did Ambani invested in Jio?

During the Reliance Annual General Meeting, Chairman Mukesh Ambani announced that Google has invested ₹33,737 crore in Jio Platforms for a 7.7% stake..

Is Amazon going to invest in Reliance?

Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Amazon.com Inc.

Does Mukesh Ambani have debt?

PEER COMPANIES Reliance Industries’ (RIL) chairman Mukesh Ambani in a statement on Friday said the company has become debt-free after it managed to raise Rs 1,68,818 crore in just 58 days.

Why Ratan Tata is not richest man?

Why Ratan Tata is not on the list of richest men in India? This is because 65% of the family’s and the company’s fortune is given away as charity. … Hence, any profit made by the company doesn’t impact Ratan Tata’s personal financial statement and goes straight to charitable organizations.

Is Tata the largest company in the world?

Companies with TATA name Subsidiary companies of the Tata Group and Joint Ventures using ‘TATA’ in their names include: Tata Consultancy Services (TCS)— Asia’s largest IT company and world’s largest software and services company.

Did Zuckerberg buy Jio?

Facebook-Reliance Jio USD 5.7 billion (Rs 43,574 crore) deal: In the first mega cross-border deal of the year, Mark Zuckerberg’s Facebook has agreed to buy a 9.99% equity stake in Mukesh Ambani’s Reliance Jio for Rs 43,574 crore, with an eye on the country’s 6 crore small businesses and a huge digital customer base of …

Is Jio really profitable?

Jio’s net profit climbed 46% on-year to Rs 891 crore in the quarter to June, well above the roughly Rs 800 crore estimated by the markets. … IIFL said revenue of Rs 11,679 crore was a growth of 5% sequentially, or a daily revenue run-rate (DRR) growth of 4%, but marked a “significant” slowdown from recent quarters.

Why is Google invested in Jio?

Google has teamed up with India’s telecom behemoth Jio over a custom Android version tailored for entry-level phones. Earlier this month, Google invested $4.5 billion in India’s telecom giant Jio Platforms to pick up a 7.7% stake in the venture.

Is Jio losing customers?

Reliance Jio Loses Customers For The First Time The Mukesh Ambani-backed telecom operator has been adding, on average, 78 lakh users every month for the last 37 consecutive months. … Its active subscriber base declined by 30.6 lakh in the month and has, in 19 months, lost close to 12.1 crore active users.

Why is Jio cheap?

Reliance Jio has revised the price for its annual plan to Rs 2,399 and enhance the daily data limit in the new plan to 2 GB. So, despite increase in value of the 365 days validity, the annual plan is 33 per cent cheaper than rivals due to extra data offered by it.

Who is next after Ratan Tata?

Ratan Tata resigned his executive powers in the Tata group on 28 December 2012, upon turning 75, appointing as his successor, Cyrus Mistry, the 44-year-old son of Pallonji Mistry of the Shapoorji Pallonji Group, the largest individual shareholder of the group and related by marriage.

Is Tata bigger than Reliance?

28 of the companies included in the Tata Group are listed on the Indian stock exchanges. Their market capitalisation is over Rs. … Thus we see that the Tata Group is bigger than Reliance Industries. However, Mukesh Ambani is richer than Ratan Tata.

How much is Mukesh Ambani worth?

85.1 billion USD (2020)Mukesh Ambani/Net worth

Why has Facebook invested in Jio?

On April 22, Facebook said it will invest Rs 43,574 crore in Jio Platforms for a 9.99% stake in an all-cash deal that will help the oil-to-retail conglomerate reduce debt and strengthen the social media company’s presence in its largest market, especially for its WhatsApp unit.

Did Amazon invest in Jio?

Morgan Stanley, which served as the financial advisor to Reliance Industries for Jio Platforms’ deals, recently valued Reliance Retail at about $29 billion. … Last year, Amazon invested more than $100 million to acquire a 49% stake in Future Coupons, a group entity owned by Future Retail.