Reliance Jio arm acquires 87% in AI chatbot firm Haptik Infotech
5 years, 9 months ago

Reliance Jio arm acquires 87% in AI chatbot firm Haptik Infotech

Live Mint  

Mumbai: Reliance Industries Ltd, through its subsidiary Reliance Jio Digital Services Ltd, has acquired 87% stake in artificial intelligence chatbot company Haptik Infotech Pvt. "On a fully-diluted basis, Reliance will hold about 87% of the business with the rest being held by Haptik founders and employees through stock option grants," RIL said in a press statement. The investment will help Reliance Jio Infocomm Ltd leverage Haptik’s capabilities to build India’s largest AI assistant across chat, voice and vernacular languages, RIL said. “This strategic investment underlines our commitment to further boost the digital ecosystem and provide Indian users conversational AI enabled devices with multi-lingual capabilities," said Reliance Jio director Akash Ambani.

Ai Reliance Ril Reliance Jio Haptik Chatbot Firm  ril  acquires  investment  infotech  haptik  reliance  87  capabilities  voice  chatbot  firm  ai  jio  business  digital  arm

History of this topic

RIL preparing for Jio IPO next year, retail business to go public much later
2 months ago

RIL preparing for Jio IPO next year, retail business to go public much later

Live Mint  

Reliance Jio IPO: Reliance Industries Ltd aims to list its subsidiary Jio Platforms Ltd, which houses the country’s largest telecom company, in 2025, two people familiar with the development said. Reliance Jio Infocomm Ltd, a fully owned subsidiary of Jio Platforms, houses the group’s telecom services business, offering voice and data services to more than 479 million consumers in the …

Reliance AGM 2024: Reliance to build Gigawatt-scale, AI-ready data centres in Jamnagar, says Mukesh Ambani
4 months, 1 week ago

Reliance AGM 2024: Reliance to build Gigawatt-scale, AI-ready data centres in Jamnagar, says Mukesh Ambani

India TV News  

Reliance AGM 2024: Reliance chairman Ambani on Thursday made a big announcement and said the Reliance will be building Gigawatt-scale, AI-ready data centres in Gujarat’s Jamnagar. We plan to establish gigawatt-scale AI-ready data centres in Jamnagar, powered entirely by Reliance’s green energy, reflecting our commitment to sustainability and a greener future.” He stated that the prime goal is to create …

Will chatbots eat India’s IT industry?
8 months ago

Will chatbots eat India’s IT industry?

The Economist  

Listen to this story. Data from Upwork, a freelancing platform, shows that earnings for uncomplicated writing tasks like copy-editing fell by 5% between Chat GPT ’s launch in November 2022 and April 2023, relative to roles less affected by AI. Another source of fresh demand—and the IT companies’ second big opportunity—is for all-new tasks tied to clients’ deployment of AI …

RIL Eyeing Digital Data Platforms, AI Adoption
1 year ago

RIL Eyeing Digital Data Platforms, AI Adoption

Deccan Chronicle  

New Delhi: As artificial intelligence is gradually getting a prominent shape in global businesses’ space, billionaire Mukesh Ambani, chairman and managing director at Reliance Industries, said that Reliance is now aiming to consolidate a place among global leaders in digital data platforms and artificial intelligence adoption. The Ambani further said that as India races ahead to become the world’s third …

Reliance Partners With Nvidia To Create India's Own Generative-AI LLM: What It Means
1 year, 4 months ago

Reliance Partners With Nvidia To Create India's Own Generative-AI LLM: What It Means

ABP News  

In a move aimed at bolstering the national industrial sector, Reliance Industries and Nvidia have unveiled a strategic collaboration to create India's very own large language model, tailored for generative AI applications and capable of accommodating the country's diverse languages. The global AI revolution is reshaping industries and daily life, and to harness India's vast potential in AI, Reliance will …

Jio working on AI like ChatGPT, Mukesh Ambani says there will be AI for everyone: Story in 5 points
1 year, 4 months ago

Jio working on AI like ChatGPT, Mukesh Ambani says there will be AI for everyone: Story in 5 points

India Today  

Mukesh Ambani, the chairman of Reliance Industries Limited, recently announced Jio Platforms' ambitious plans to use the power of artificial intelligence and make it accessible to everyone in India. Jio working on AI like ChatGPT, Mukesh Ambani talks about AI: Story in 5 points -Ambani acknowledged the transformative potential of AI and expressed his vision of bringing AI capabilities to …

Mukesh Ambani's groundbreaking AI announcement: A message to OpenAI CEO Sam Altman
1 year, 4 months ago

Mukesh Ambani's groundbreaking AI announcement: A message to OpenAI CEO Sam Altman

Live Mint  

Reliance Industries' Jio will introduce AI systems similar to OpenAI's ChatGPT, according to Chairman Mukesh Ambani. This comes after OpenAI CEO Sam Altman's comments on India's AI efforts. Reliance Industries Limited Chairman Mukesh Ambani announced that RIL's Jio would introduce new AI systems, similar to OpenAI's ChatGPT, for India. Interestingly, this announcement seems to follow OpenAI CEO Sam Altman's comments …

Reliance AGM 2023: ‘Jio to lead India-specific AI solutions,’ says Mukesh Ambani while speaking on AI revolution
1 year, 4 months ago

Reliance AGM 2023: ‘Jio to lead India-specific AI solutions,’ says Mukesh Ambani while speaking on AI revolution

Live Mint  

Reliance AGM 2023: Reliance Industries Limited Chairman Mukesh Ambani on Monday spoke about the AI revolution in the world while addressing the 46th Annual General Meeting of the company. While emphasizing on the need to harness AI for innovation, growth, and India's prosperity, Mukesh Ambani said that Jio will lead India-specific AI solutions. {{^adFree}} {{/adFree}} “Withing the RIL Group, we …

Reliance AGM 2023: Jio promises AI to everyone, everywhere, says Mukesh Ambani
1 year, 4 months ago

Reliance AGM 2023: Jio promises AI to everyone, everywhere, says Mukesh Ambani

Hindustan Times  

Reliance Industries Limited chairperson Mukesh Ambani on Monday said the company is committed to create up to 2,000 MW of Artificial Intelligence-ready computing capacity. Jio Platforms wants to lead in developing India-specific AI models and AI-powered solutions across domains, thereby delivering benefit of AI to Indians, businesses and government”, Ambani said at the business conglomerate's 46th annual genera meeting via …

Sam Altman said Indians would fail at building ChatGPT, Reliance boss Mukesh Ambani says challenge accepted
1 year, 4 months ago

Sam Altman said Indians would fail at building ChatGPT, Reliance boss Mukesh Ambani says challenge accepted

India Today  

Two months ago, Sam Altman, CEO of OpenAI and a key man behind ChatGPT, said that Indians could try to create something like ChatGPT AI system but it would be futile. However, Mukesh Ambani, Chairman and MD of Reliance Industries, has responded with a strong determination, asserting that India possesses the necessary resources and commitment to excel in AI. "Looking …

Reliance Jio witnesses a remarkable growth with 90 lakh net subscriber additions in Q1 2023
1 year, 5 months ago

Reliance Jio witnesses a remarkable growth with 90 lakh net subscriber additions in Q1 2023

India TV News  

Jio Platforms has recorded a significant 12.5% year-over-year increase in net profit and reached up to Rs. During the reported quarter, Jio Platforms witnessed a net addition of over 90 lakh subscribers, with total data traffic soaring over 28% YoY to 33.2 billion gigabytes. Jio Platforms, which includes telecom arm Reliance Jio Infocomm and various startups, has seen significant progress …

New Yug begins at Jio Infocomm as Mukesh Ambani hands over telecom arm to son Akash in well-crafted succession move
2 years, 6 months ago

New Yug begins at Jio Infocomm as Mukesh Ambani hands over telecom arm to son Akash in well-crafted succession move

Firstpost  

Akash, an Ivy League alumnus, has been closely involved with the disruptive and inclusive growth path charted by the digital services and consumer retail propositions of Reliance group and is now leading the creation of the ‘convergence dividend’ for over 500 million consumers The Jio Infocomm baton has been passed, and the succession plan at India’s most valuable company is …

Why Haptik’s Aakrit Vaish lets bots do the talking
2 years, 6 months ago

Why Haptik’s Aakrit Vaish lets bots do the talking

Live Mint  

Aakrit Vaish, co-founder and CEO of conversational Artificial Intelligence startup Haptik, has kept away from the media over the last two-three years. Moreover, they knew fully well that tasks like ordering food, groceries or paying bills could be done on a normal mobile app or website— so the Haptik app was “not a must-have”. The Haptik leadership “thought of value …

Reliance Jio to Invest $200 Million in Mobile Startup Glance
2 years, 10 months ago

Reliance Jio to Invest $200 Million in Mobile Startup Glance

Hindustan Times  

Reliance Industries Ltd.’s digital platform will invest $200 million in the mobile content company Glance InMobi Pte., a sign regional startups continue to attract financing at strong valuations despite setbacks for some newly-public technology stocks. Reliance Jio Infocomm Ltd., India’s largest mobile services provider with more than 420 million subscribers, is trying to boost its base with home-engineered JioPhone Next …

Jio Platforms’ Haptik claims 300% yoy growth, bullish on Whatsapp e-commerce
3 years, 2 months ago

Jio Platforms’ Haptik claims 300% yoy growth, bullish on Whatsapp e-commerce

Live Mint  

Jio Platforms' conversational AI maker Haptik is tripling business on year-on-year basis and is bullish about e-commerce facility getting developed on instant messaging app Whatsapp, a top official of the company said. Jio Haptik Technologies co-founder and CEO Aakrit Vaish told PTI that the business of the company is growing overseas with the US being its primary market. The major …

Reliance Jio And Sundar Pichai’s Google Work Together On The Same Mission: Technology For The Masses
3 years, 6 months ago

Reliance Jio And Sundar Pichai’s Google Work Together On The Same Mission: Technology For The Masses

News 18  

Reliance Jio and Google have further strengthened their partnership with a bunch of initiatives announced at the 44th Annual General Meeting of Reliance Industries Ltd. This year, the two companies are working together for the super affordable JioPhone Next 4G smartphone and the 5G partnership between Jio and Google Cloud. At the remarks delivered during the RIL AGM, Google and …

Jio Platforms, Byju's in Time Magazine's First-ever List of 100 Most Influential Firms
3 years, 8 months ago

Jio Platforms, Byju's in Time Magazine's First-ever List of 100 Most Influential Firms

News 18  

Two Indian firms, Reliance Industries’ technology arm Jio Platforms and e-learning startup Byju’s have figured in the Time Magazine’s first-ever list of 100 most influential companies. “Now leading investors are turning to Jio Platforms — the holding company for Reliance’s digital businesses — to reach its more than 410 million subscribers,” it said. As users of his company’s signature app …

Reliance Jio and more businesses will launch more apps, digital platforms in 2021
4 years, 2 months ago

Reliance Jio and more businesses will launch more apps, digital platforms in 2021

India TV News  

Businesses will further accelerate the pace of their digital activities in 2021 by creating new-age apps and platforms and the world will see this battle ratcheting up in intensity in India led by Reliance Jio Platforms, a new report has said. However, we will see this battle ratcheting up in intensity, especially in India," said Ashutosh Sharma, VP, Research Director. …

Reliance Jio teams up with USP Studios for kids edutainment content
4 years, 3 months ago

Reliance Jio teams up with USP Studios for kids edutainment content

India TV News  

India's largest telecom operator Reliance Jio has partnered USP Studios, a content creator for kids, to strengthen the platform's offering for children. These include Kids First, Kids TV India, Junior Squad Kid Songs, Top Nursery Rhymes, Kids Channel India, Bob The Train, Little Treehouse Rhymes, and Farmees Nursery Rhymes, the statement said. Specialising in content for pre-schoolers, USP Studios produces …

Jio Platforms raises $4.5 billion from Google
4 years, 5 months ago

Jio Platforms raises $4.5 billion from Google

Live Mint  

Alphabet Inc.’s Google will invest $4.5 billion in Reliance Industries Ltd’s digital unit, joining a list of global backers, including Facebook, seeking to exploit India’s vast and fast-growing market of internet users. The deal will give Google a 7.73% stake in RIL’s Jio Platforms at a valuation of ₹4.43 trillion, marking the US technology giant’s biggest-ever investment in an Indian …

RIL AGM 2020: Google to pick up 7.7% stake in Jio; Saudi Aramco deal on hold due to pandemic, says Mukesh Ambani
4 years, 5 months ago

RIL AGM 2020: Google to pick up 7.7% stake in Jio; Saudi Aramco deal on hold due to pandemic, says Mukesh Ambani

Firstpost  

With Google coming on board, Reliance has completed its target of capital raising for Jio Platforms, Ambani said. Following were the key points that emerged from the annual general meeting: Google picks up 7.7 percent stake in Jio Google has agreed to invest Rs 33,737 crore to buy a 7.7 per centstake in Reliance Industries’ technology venture, adding to a …

Google, Jio Platforms to jointly develop an entry-level affordable smartphone for India
4 years, 5 months ago

Google, Jio Platforms to jointly develop an entry-level affordable smartphone for India

Firstpost  

Google will make optimisations to the Android operating system and the Play Store for the affordable smartphone. At the Reliance AGM Meeting 2020, RIL chairman Mukesh Ambani announced that Google will be picking up 7.7 percent stake in Jio platforms for Rs 33,737 crore. As part of the investment, Google and Jio Platforms have entered into a commercial agreement to …

Google to invest USD 4.5 billion in Reliance Jio, for a 7.7% stake
4 years, 5 months ago

Google to invest USD 4.5 billion in Reliance Jio, for a 7.7% stake

Op India  

Google’s parent company Alphabet Inc has become the latest high-profile organisation to invest in India’s telecom giant Reliance Jio Platforms. Mukesh Ambani, the Chairman of Reliance India chairman on Wednesday confirmed that Google will invest over Rs 33,737, or USD 4.5 billion for a 7.7 per cent stake in Jio Platforms taking the string of investments well over Rs 1,52,000 …

Google to pick 7.7% stake in Jio for ₹33,737 crore
4 years, 5 months ago

Google to pick 7.7% stake in Jio for ₹33,737 crore

The Hindu  

Google has agreed to invest ₹33,737 crore to buy a 7.7% stake in Reliance Industries’ technology venture, adding to a slew of investments since April that has crossed ₹1.52 lakh crore. California-based Alphabet Inc joins Facebook Inc, which opened the investment cycle in Jio Platforms by picking 9.99% stake for ₹43,573.62 crore, as well as chipmaker Intel Corp and Qualcomm …

Jio Platforms Key Announcements: Google-Jio's Affordable Smartphone, Jio 5G India's 1st 5G Network and More
4 years, 5 months ago

Jio Platforms Key Announcements: Google-Jio's Affordable Smartphone, Jio 5G India's 1st 5G Network and More

News 18  

Reliance Industries Limited is set to host its first ever virtual Annual General Meeting, in light of the Covid-19 pandemic. At RIL AGM 2020, Mukesh Ambani, chairman and managing director of RIL, is set to make key announcements that highlight the performance of the overall RIL family over the past one year, which has been a topsy-turvy year for all …

RIL AGM expected to be technology focused after Jio Platforms fundraise
4 years, 5 months ago

RIL AGM expected to be technology focused after Jio Platforms fundraise

Live Mint  

MUMBAI: The 43rd Reliance Industries Ltd Annual General Meeting will be keenly watched by investors for new announcements on the technology front after having raised a mammoth ₹1.18 lakh crore in 12 weeks from global technology giants and investors. Over the past few years, RIL AGMs have been increasingly marked by announcements of the long term telecom-technology vision for the …

Reliance's 43rd AGM today: Where to watch Mukesh Ambani’s speech
4 years, 5 months ago

Reliance's 43rd AGM today: Where to watch Mukesh Ambani’s speech

India TV News  

Reliance Industries, India's most valuable company, will hold its first online AGM today and it promises to be a much bigger affair with a brand-new virtual platform that can log more than 1 lakh shareholders from 500 locations simultaneously. AGM will showcase multiple first on a real-time basis - including a two-way live streaming and a brand-new virtual platform that …

Reliance AGM: Investment from Google, 5G tech, Jio Platforms shine in Mukesh Ambani's speech | 10 points
4 years, 5 months ago

Reliance AGM: Investment from Google, 5G tech, Jio Platforms shine in Mukesh Ambani's speech | 10 points

India Today  

Reliance AGM: Addressing the annual general meeting of of Reliance Industries Limited, Mukesh Ambani today made a slew of announcements ranging from the "success" of JioMeet, bumper investments from Google, Facebook and other global tech giants in Reliance Jio, building an indigenous 5G platform from scratch, to the future of Jio Platforms. We have signed a binding partnership and an …

Qualcomm Ventures commits to invest up to ₹730 cr. in Jio Platforms
4 years, 5 months ago

Qualcomm Ventures commits to invest up to ₹730 cr. in Jio Platforms

The Hindu  

Reliance Industries Ltd. and Jio Platforms Ltd. have announced that Qualcomm Ventures, the investment arm of Qualcomm Incorporated, has committed to invest up to ₹730 crore in Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore. With this investment, Jio Platforms has raised ₹ 1,18,318.45 crore from leading technology investors including …

Qualcomm ventures to invest Rs 730 crore in Reliance's Jio Platforms
4 years, 5 months ago

Qualcomm ventures to invest Rs 730 crore in Reliance's Jio Platforms

India Today  

India’s Reliance Industries said on Sunday Qualcomm Inc’s investment arm will buy a 0.15% stake in its digital unit Jio Platforms for 7.3 billion rupees. The partnership will help Jio Platforms, the unit that houses Reliance’s telecoms venture Jio Infocomm, to “roll out advanced 5G infrastructure and services for Indian customers”, Reliance said in a statement. Although Jio Platforms also …

Qualcomm is the latest US tech name to back India’s Jio Platforms
4 years, 5 months ago

Qualcomm is the latest US tech name to back India’s Jio Platforms

CNN  

Hong Kong CNN Business — India’s richest man isn’t done with his fundraising spree just yet. Jio Platforms, the tech firm owned by billionaire Mukesh Ambani, has won another investment, this time from US chipmaker Qualcomm. The two companies announced Sunday that Qualcomm’s investment arm would pump up to 7.3 billion Indian rupees into Jio, in exchange for an equity …

Qualcomm Ventures to invest ₹730 cr in Jio Platforms for 0.15% stake
4 years, 5 months ago

Qualcomm Ventures to invest ₹730 cr in Jio Platforms for 0.15% stake

Live Mint  

Qualcomm Ventures, the investment arm of Qualcomm Inc., will invest ₹730 crore for a 0.15% stake in Jio Platforms Ltd, becoming the 12th entity to invest in the digital services subsidiary of Reliance Industries in over three months. Qualcomm offers deep technology know-how and insights that will help us deliver on our 5G vision and the digital transformation of India …

Qualcomm to invest Rs 730 crore in Jio Platforms for 0.15% stake; 13th such investment in 12 weeks
4 years, 5 months ago

Qualcomm to invest Rs 730 crore in Jio Platforms for 0.15% stake; 13th such investment in 12 weeks

Firstpost  

The deal with Qualcomm—the 13th such investment in 12 weeks—takes the total stake that Reliance sold in Jio Platforms to 25.24 percent. Qualcomm Inc, one of the world’s top wireless technology companies, will invest Rs 730 crore in Jio Platforms in exchange for a 0.15 percent stake. Jio Platforms, a unit of Reliance Industries Limited, runs the telecom enterprise Jio …

Proposed Jio-Microsoft JV To Herald A New Age In India's Digital Transformation & Global Leadership
4 years, 6 months ago

Proposed Jio-Microsoft JV To Herald A New Age In India's Digital Transformation & Global Leadership

Live Law  

Reports indicate Microsoft, currently led by India-born CEO Satya Nadella, and Jio Platforms, Reliance India Limited's technology platform lead by Mukesh Ambani are in advanced talks for a deal that could not only be bigger than the recent Jio-Facebook deal but also transform the technology landscape in India. Although there is no clear statement from either company that the deal …

Intel to acquire 0.39% stake in Jio Platforms for Rs 1,895 cr; will be 12th firm to invest in Reliance Industries' digital arm
4 years, 6 months ago

Intel to acquire 0.39% stake in Jio Platforms for Rs 1,895 cr; will be 12th firm to invest in Reliance Industries' digital arm

Firstpost  

The Intel deal values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Becoming the 12th firm in less than three months to invest in Jio Platforms, the American multinational company Intel plans to pump in Rs 1,894.50 crore in the Reliance Industries digital arm that will translate into …

Intel-Reliance Jio Deal: US semiconductor giant invests Rs 1,894.5 crore in Jio Platforms for 0.39% stake
4 years, 6 months ago

Intel-Reliance Jio Deal: US semiconductor giant invests Rs 1,894.5 crore in Jio Platforms for 0.39% stake

India TV News  

Mukesh Ambani-led Reliance Industries on Friday announced that American multinational company Intel will invest Rs 1894.50 crore in Jio Platforms, making it the twelfth high-profile investment in the digital arm of RIL within eleven weeks. The Intel deal values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. With …

Reliance CEO gets $1.5 billion from Saudi Arabia for his Jio war chest
4 years, 6 months ago

Reliance CEO gets $1.5 billion from Saudi Arabia for his Jio war chest

CNN  

San Francisco CNN Business — In less than two months, Indian billionaire Mukesh Ambani has amassed more than $15 billion in investments to fuel his technology ambitions fromthe likes of Facebook and top Silicon Valley investors Silver Lake and TPG. The kingdom’s sovereign wealth fund, the Public Investment Fund, will pay $1.5 billion for a 2.3% stake in Jio Platforms, …

TPG picks 0.93% stake in Jio platforms for Rs 4,546.80 crore; Reliance unit's total fundraising reaches 1.02 lakh crore
4 years, 6 months ago

TPG picks 0.93% stake in Jio platforms for Rs 4,546.80 crore; Reliance unit's total fundraising reaches 1.02 lakh crore

Firstpost  

Global alternative asset firm TPG has bought 0.93 percent stake in Jio Platforms for Rs 4,546.80 crore. With this, Jio Paltofrms, a wholly-owned subsidiary of Reliance Industries, has raised Rs 1.02 lakh crore from global technology investors, the company said in a statement. Since April, Jio Platforms has attracted investments from leading global technology investors including Facebook, Silver Lake, Vista …

Reliance Jio gets Rs 87,655 crore investment in 6 weeks. Here's a timeline
4 years, 7 months ago

Reliance Jio gets Rs 87,655 crore investment in 6 weeks. Here's a timeline

India TV News  

Mukesh Ambani's Reliance Jio has received an investment worth whooping Rs 87,655 crore in the last 6 weeks. Here is a timeline of Reliance Jio 's recent investments April 22 -- Facebook -- Mark Zuckerburg's Facebook announced an investment worth Rs 43,574 crore in Reliance Jio. May 22 -- KKR -- KKR announced 11,367 crore investment in Jio platforms for …

Reliance CEO Mukesh Ambani is trying to build the next global technology giant
4 years, 7 months ago

Reliance CEO Mukesh Ambani is trying to build the next global technology giant

CNN  

Hong Kong CNN Business — Mukesh Ambani wants to build the next global technology company. Jio Platforms already has an ecosystem of apps —which feature everything from online grocery shopping to video streaming — that it serves to the 388 million peoplesubscribed through the Reliance Jio mobile network in India. The “ultimate goal,” according toCounterpoint Research analystTarun Pathak, is to …

India’s Jio Platforms lands $1.5 billion from Vista Equity, marking 3 big investments in 3 weeks
4 years, 8 months ago

India’s Jio Platforms lands $1.5 billion from Vista Equity, marking 3 big investments in 3 weeks

CNN  

Hong Kong CNN Business — Another week brings another massive injection of cash for India’s biggest tech and telecom firm. US investment firm Vista Equity is pumping nearly 114 billion rupees into Jio Platforms, the digital technology arm of Indian billionaire Mukesh Ambani’s sprawling conglomerate Reliance Industries. Facebook invested $5.7 billion in Jio Platforms in late April and private equity …

Silver Lake invests ₹5,656 cr. in Jio
4 years, 8 months ago

Silver Lake invests ₹5,656 cr. in Jio

The Hindu  

U.S. private equity firm Silver Lake has agreed to invest ₹5,655.75 crore in Jio Platforms Ltd., representing a 12.5% premium to the equity valuation of the Facebook investment announced on April 22, 2020. We are excited to leverage insights from their global technology relationships for the Indian digital society’s transformation.” With approximately $40 billion in combined assets under management Silver …

Reliance Jio lands cash infusion from US private equity firm Silver Lake
4 years, 8 months ago

Reliance Jio lands cash infusion from US private equity firm Silver Lake

CNN  

Hong Kong CNN Business — India’s biggest tech and telecom firm just got a big cash injection from Silver Lake, the US private equity firm with a winning track record of placing big bets on promising tech giants. Silver Lake is pumping 56.6 billion rupees into Jio Platforms, the digital technology arm of Indian billionaire Mukesh Ambani’s sprawling conglomerate Reliance …

Facebook buys 9.9% stake in Reliance Jio: Why it is a win-win deal for both; key highlights of $5.7 billion deal
4 years, 8 months ago

Facebook buys 9.9% stake in Reliance Jio: Why it is a win-win deal for both; key highlights of $5.7 billion deal

Firstpost  

Facebook makes 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, Reliance Industries Limited said in a statement. On 22 April, social media giant Facebook announced an investment of $5.7 billion to buy a 9.9 percent stake in the firm that houses billionaire Mukesh …

Reliance Jio-Facebook deal: Mark Zuckerberg shares 'excitement' over $5.7 bn partnership, says committed to connecting more people with Jio
4 years, 8 months ago

Reliance Jio-Facebook deal: Mark Zuckerberg shares 'excitement' over $5.7 bn partnership, says committed to connecting more people with Jio

Firstpost  

The multibillion-dollar deal gives the Facebook a firm foothold in a fast-growing massive market and helps the Reliance Jio, the Indian oil-to-telecom conglomerate to significantly cut debt. The multibillion-dollar deal gives the social media giant a firm foothold in a fast-growing massive market and helps the Indian the oil-to-telecom conglomerate to significantly cut debt. The investment values Jio Platforms amongst …

Jio emerges as a leapfrogging platform in Ambani's industrial shuffle, aided by trademark financial engineering
4 years, 8 months ago

Jio emerges as a leapfrogging platform in Ambani's industrial shuffle, aided by trademark financial engineering

Firstpost  

Consider the fact that in three years flat, the telecom subscriber base of Reliance Industries Ltd has crossed 340 million—and that is 13 million more than the entire population of the United States of America. RIL’s latest announcement that Saudi Arabia’s state oil giant, Aramco, will invest about $15 billion in Reliance’s oil and petrochemical business gives an idea of …

Facebook investment to accelerate Reliance Jio's digital monetisation drive: Analysts
4 years, 8 months ago

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

Firstpost  

New Delhi: Facebook’s move to pick up about 10 percent stake in Jio Platforms will accelerate Jio’s digital monetisation drive and put Reliance Industries on course to turn net debt-free by March 2021, analysts said on Wednesday. “Today we are announcing a $5.7 billion, or Rs 43,574 crore, investment in Jio Platforms Ltd, part of Reliance Industries Ltd, making Facebook …

Diversification pays off handsomely for RIL, as Reliance Jio befriends Facebook
4 years, 8 months ago

Diversification pays off handsomely for RIL, as Reliance Jio befriends Facebook

Live Mint  

"Henry Ford never diversified; Bill Gates didn't diversify. The company announced on Wednesday that it has entered into a binding agreement with Facebook, Inc. for the sale of a 9.99% equity stake in subsidiary Jio Platforms Ltd for ₹43,574 crore. Ltd say, “Valuations suggest that Facebook expects Jio's Ebitda to double from current levels.” In any case, the moot point …

RIL shares zoom over 10% on Rs 43,574-cr Jio-Facebook deal; market cap rallies Rs 80,710 cr
4 years, 8 months ago

RIL shares zoom over 10% on Rs 43,574-cr Jio-Facebook deal; market cap rallies Rs 80,710 cr

Firstpost  

Shares of Reliance Industries on Wednesday jumped over 10 percent after Facebook announced an investment of $5.7 billion to buy a 10 percent stake in Jio Platforms New Delhi: Shares of Reliance Industries on Wednesday jumped over 10 percent after Facebook announced an investment of $5.7 billion to buy a 10 percent stake in Jio Platforms. Earlier in the day, …

Facebook Buying 9.99% Stake In Reliance Jio For Rs 43,574 Cr, Largest FDI In India's Tech Sector
4 years, 8 months ago

Facebook Buying 9.99% Stake In Reliance Jio For Rs 43,574 Cr, Largest FDI In India's Tech Sector

ABP News  

New York: Its official. Social media and tech giant Facebook is pouring in Rs 43,574 crore for a 9.99 per cent slice in India's oil-retail-telecoms conglomerate Reliance Industries Limited led Jio Platforms - the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the Indian tech sector, according to an …

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