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One of the craziest tech deals in Indian/Asian/world history: Facebook is buying 10% of operator Jio for $5.7 billion— Jon Russell (@jonrussell) April 22, 2020
Lots to unpack here: FB gets an ally with government's ear, massive distribution channel, scope for services like fintech etchttps://t.co/cuEqspJA0c
https://t.co/CHnJUkUF6t— 👩🏻💻Ivy misses her gin n tonic (@JellyIvy) April 22, 2020
"But for Facebook, there might be an additional perk in this deal: Mukesh Ambani. India’s richest man is a close ally of Indian Prime Minister Narendra Modi, and his firm has consistently supported policy proposals from the ruling government."
Rumored @Facebook investment in @reliancejio comes true. Together they so many biz & channels to leverage. Competition @airtelindia @VodafoneIN must be fretting what this means for the cellular industry in India and their revenue streamshttps://t.co/B6DcozTw9N@anthonyha— Prakash Sangam practicing #socialdistancing (@MyTechMusings) April 22, 2020
Oh hey, this is it: “By bringing together JioMart, Jio’s small-business initiative, with WhatsApp, we can enable people to connect with businesses, shop and ultimately purchase products in a seamless mobile experience,” via @mikeisaac @vindugoel https://t.co/awSAGVeqlj— CeciliaKang (@ceciliakang) April 22, 2020
Why's Facebook paying $5.7 billion for a stake in India's Jio?— Newley Purnell (@newley) April 22, 2020
FB gets a foothold in rural India -- and a powerful local ally. It's had regulatory problems there.
Jio gets product and data/ads expertise -- and, crucially, cash.
A look at the deal: https://t.co/ODjLBcCHq0 pic.twitter.com/ztKOo9hfPh
This is extraordinary and consequential:— Rush Doshi (@RushDoshi) April 22, 2020
“Today we [Facebook] are announcing a $5.7 billion, or INR 43,574 crore, investment in Jio Platforms Limited, part of Reliance Industries Limited, making Facebook its largest minority shareholder.” https://t.co/TVEgfiHEnT
With this move, Facebook can become even more prominent. It has a few significant advantages in India:— Jaynti Kanani (Matic) (@_jdkanani) April 22, 2020
- An easier path for Libra
- Synergies for SMEs and businesses with JioMart and WhatsApp
- Biggest consumer market at hand for Fintech/Tech https://t.co/bJTpQLPu0m
2/7 There is a level of nervousness around this deal. Please be rest assured IFF is committed towards rigorous analysis & advocacy to protect your digital rights. Linking to some of our past work to provide insight and takeaways. https://t.co/PGlxvWlNv5— Internet Freedom Foundation (IFF) (@internetfreedom) April 22, 2020
Why is @Facebook betting $5.7B on India🇮🇳 where it already has >400M @WhatsApp users? Still bullish on next billion and fighting over the SMB🔥, easier + faster to operate w/behemoth partner @reliancejio (it hopes) esp. for e-comm🛍, payments💰https://t.co/amJa7J2Mpu— Seema Amble (@seema_amble) April 22, 2020
@Facebook invests in @reliancejio Largest #Technology FDI in India with an investment of Rs 43,574cr -@fbnewsroom is the largest minority shareholder in @reliancejio. Hope it creates new opportunities amidst the countrywide lockdown to contain #Covid19 https://t.co/08QBiWpCM7 pic.twitter.com/GQNys5FbTZ— Mekapati Goutham Reddy Official (@MekapatiGoutham) April 22, 2020
Facebook invests 5.7 billion dollars in Jio Platform with India's small businesses in mind and WhatsApp for Business integrations and probably many more.— Szymon Kopeć (@szymonkopec) April 22, 2020
Smart move for everyone what wants to reach their total addressable market in the country. https://t.co/j8lG940LQY
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