Reliance Jio plans to quickly tighten its fintech ‘DNA loop’
2 years, 2 months ago

Reliance Jio plans to quickly tighten its fintech ‘DNA loop’

Live Mint  

To record all the words ever spoken by humankind, five exabytes of storage would suffice. Telecom customers of Mukesh Ambani’s Reliance used up nearly six times as much data last quarter. That’s where Reliance wants to go next: to a “consumer and merchant lending business based on proprietary data analytics to complement and supplement the traditional credit bureau-based underwriting,” as per its press release. Apart from owning India’s largest telecom company, it also runs the country’s biggest retailer, with more than 250 million transactions last quarter from 50 million square feet of store-front space. But the basic building block will be credit: Jio Financial will hit the ground running by originating keenly priced loans to Reliance’s vast network of consumers and merchants.

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History of this topic

Mukesh Ambani prepares to hand a $220 billion empire to his children
2 years, 4 months ago

Mukesh Ambani prepares to hand a $220 billion empire to his children

CNN  

New Delhi CNN Business — Indian billionaire Mukesh Ambani has laid out plans to hand his sprawling business empire to his children, while insisting he has no intention of retiring any time soon. Ambani, 65, set out his succession plan on Monday, telling shareholders in his Reliance Industries conglomerate that his three children are “first among equals” and are being …

Indian billionaire Mukesh Ambani may hold the winning ticket in tech and Silicon Valley knows it
3 years, 11 months ago

Indian billionaire Mukesh Ambani may hold the winning ticket in tech and Silicon Valley knows it

CNN  

Mukesh Ambani has spent years trying to turn hisinherited oil businessinto a tech empire. He’s doing that with JioMart, an initiative announced in 2019 to bring online thousands of India’s mom-and-pop stores known as “kiranas.” And Reliance Retail recently acquired one of its biggest Indian rivals, Future Retail, for $3.3 billion — a deal that has kicked off a protracted …

Reliance Jio and more businesses will launch more apps, digital platforms in 2021
4 years, 3 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. …

After $20 billion Jio frenzy, Mukesh Ambani seeks money for retail
4 years, 6 months ago

After $20 billion Jio frenzy, Mukesh Ambani seeks money for retail

Live Mint  

After raising more than $20 billion for his digital venture in three months, billionaire Mukesh Ambani is readying his retail unit for global partners, as his oil-to-petrochemicals conglomerate turns to India’s billion-plus consumers for growth. Asia’s richest man and the chairman of Reliance Industries Ltd. told shareholders Wednesday that Reliance Retail Ltd. is getting inquiries from investors and may start …

Qualcomm ventures to invest Rs 730 crore in Reliance's Jio Platforms
4 years, 6 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 …

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, …

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 …

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 Jio deal: Company invests $5.7 billion for 9.99% stake in India’s Jio Platforms
4 years, 8 months ago

Facebook Jio deal: Company invests $5.7 billion for 9.99% stake in India’s Jio Platforms

CNN  

Hong Kong CNN Business — Facebook is spending billions of dollars for a stake in India’s largest mobile operator, and teaming up with the country’s richest man to tap into an internet boom. The deal, announced Wednesday, will see the US company invest $5.7 billion for a 9.99% stake in Jio Platforms, the digital technology arm of Indian billionaire Mukesh …

Jio Fiber: free TVs with new internet plans by India billionaire Mukesh Ambani
5 years, 4 months ago

Jio Fiber: free TVs with new internet plans by India billionaire Mukesh Ambani

CNN  

New Delhi CNN Business — India’s richest man is making a new push to dominate the country’s fast-growing internet user base — this time by offering high-definition TVs to new broadband customers. Reliance Jio, the mobile network owned by billionaire Mukesh Ambani, will give away free 4K televisions with some of its new plans. Jio burst onto India’s telecom scene …

After telecom, Jio shifts focus to digital transformation of Indian businesses
5 years, 5 months ago

After telecom, Jio shifts focus to digital transformation of Indian businesses

Live Mint  

If the nearly three-year-old Mukesh Ambani-controlled telecom company, Reliance Jio Infocomm Ltd, has crossed the 340-million subscriber mark, making it India’s largest telecom enterprise in terms of users, revenue and profit, by disrupting the country’s telecom sector, the chairman and managing director of Reliance Industries on Monday has not only raised the entertainment and digital bar for telcos, but also …

Reliance Jio's journey since 2016 has been 'incredible', potential for growth is immense, says chairman Mukesh Ambani
5 years, 5 months ago

Reliance Jio's journey since 2016 has been 'incredible', potential for growth is immense, says chairman Mukesh Ambani

Firstpost  

Reliance has invested nearly Rs 5.4 lakh crore over the last five years to generate EBITDA in excess of $1 billion annually for over a decade. Announcing a bouquet of services for customers at the 42nd Annual General Meeting held on Monday in Mumbai, Reliance Industries Ltd chairman and managing director, Mukesh Ambani said Jio’s journey since 2016 was “incredible”. …

Jio subscriber base at over 340 mn, ready to kick-start 4 new growth engines: Mukesh Ambani
5 years, 5 months ago

Jio subscriber base at over 340 mn, ready to kick-start 4 new growth engines: Mukesh Ambani

India TV News  

Mukesh Ambani on Monday said that Jio which has amassed over 340 million subscribers in less than three years, is now ready to fire four new growth engines including Internet of Things for the entire country, home and enterprise broadband services as well as broadband for SMEs. "Revenue from each of these engines will kick in this fiscal itself," Reliance …

RIL AGM 2019: Reliance Jio subscriber base at over 340 mn, ready to kick-start four new growth engines, says Mukesh Ambani
5 years, 5 months ago

RIL AGM 2019: Reliance Jio subscriber base at over 340 mn, ready to kick-start four new growth engines, says Mukesh Ambani

Firstpost  

Mukesh Ambani on Monday said that Jio which has amassed over 340 million subscribers in less than three years, is now ready to fire four new growth engines including Internet of Things for the entire country, home and enterprise broadband services as well as broadband for SMEs Mumbai: Mukesh Ambani on Monday said that Jio which has amassed over 340 …

How Mukesh Ambani’s Reliance Jio shook up India’s telecom market
6 years, 2 months ago

How Mukesh Ambani’s Reliance Jio shook up India’s telecom market

Live Mint  

Within two years, India’s richest person turned the local mobile-phone market into the world’s biggest consumer of wireless data. Meanwhile, Reliance Jio, a unit of Ambani’s energy-to-retail conglomerate Reliance Industries Ltd., has reported two quarters of profit, driven by subscription growth that has continued even after the company began charging for data services. The plunge in prices has led to …

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