AsiaTechDaily - Asia's Leading Tech and Startup Media Platform
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • login
No Result
View All Result
AsiaTechDaily - Asia's Leading Tech and Startup Media Platform
No Result
View All Result
Home Investments

Jio Platforms Bags USD 20 Billion in One of the Biggest Fundraising Sprees Ever!

 4,388 total views,  2 views today

Be one of the first to comment
AsiaTechDaily Writer by AsiaTechDaily Writer
PUBLISHED: July 29, 2020 UPDATED: July 29, 2020
in Investments
0
Jio Platforms
160
SHARES
Share on FacebookShare on Twitter
Bookmark(0)

Please login to bookmark

No account yet? Register

Reliance Industries, one of India’s biggest conglomerates, is on a roll. The company is living up to the promise of Chairman and Managing Director Mukesh Ambani (the richest man in Asia with a net worth of US$81.4 billion as of 24 July 2020) to make the company debt-free. Foreign investment has started pouring in, starting with Facebook. Other investors soon followed suit, and now 10+ global investors have brought up approximately 25.09% stake in Jio Platforms. The timing of this fund raising exercise is vital amidst a raging global pandemic which has pushed millions of businesses to the brink of closure and an uncertain future.

Total investment value in Reliance Industries came close to INR 1.18 lakh crore (USD 20 billion approx.). The principal investors are as follows. Facebook Inc invested 5.7 billion USD, while Silver Lake partners invested 750 million USD and 600 million USD (in May and June 2020, respectively). Vista Equity Investors invested 747 million USD, and General Atlantic invested 873 million USD. KKR invested 1.5 billion USD, while TPG Capital invested 600 million USD. L Catterton invested 250 million USD bringing up the number of USA based investors to 8. Public Investment Fund from Saudi Arabia invested 1.49 billion USD. Mubadala (Abu Dhabi) and Abu Dhabi Investment Authority invested 1.2 billion USD and 750 million USD. Qualcomm Ventures plans to invest 10 million USD in Jio, making it the 12th investor. Earlier this month, Google pumped in USD 4.5 billion for a 7.7 percent stake. As per various reports, even Microsoft plans to pump in USD 2 billion into Jio Platforms.

New Services On The Anvil

The fact that so many global investors chose Reliance should have driven share prices up through the roof. Surprisingly, around 15 July share prices fell by 3.8%. Still, Reliance is buoyant with Mukesh Ambani raising the curtain on a vast range of ambitious services: 

  • 5G – Google and Jio plan to build an operating system to power 4G/5G phones
  • Video streaming to bring in Amazon Prime, Netflix, and Disney among others

Mukesh Ambani’s goal is to offer genuinely global digital products and make Reliance on the international leader in its operational sectors. The company plans to revolutionize the retail, content streaming, digital payments and education, and healthcare segments.

Taking On Goliaths

The Facebook tie-up and resultant access to Whatsapp are likely to boost Jiomart operations to a level that they can take on global top e-commerce giant Amazon and Walmart’s Flipkart. 

Google, Facebook, and others see Jio as a possible backdoor entry to smoothen the regulatory process. Ambani’s political clout is likely to help navigate their way through red tape and operational delays.

Ambitious Plans

Reliance has ambitious plans to build an indigenous 5G ecosystem. Further, it plans to leverage WhatsApp to help JioMart rope in local retail shops to increase their sales numbers. Jio Glass is another project that will help teachers and students get together in 3D virtual rooms. Technical competence in Narrowband IoT.

A Monopoly In The Offering? 

The tie-up with a dozen companies, including Qualcomm, Google, and Facebook, holds great promise. However, with Jio Platforms becoming stronger by the day, it raises the question of Jio becoming a monopoly. Its competitors Idea-Vodafone and Airtel, are in dire straits to put it across mildly. At one time, there were 10 contenders in the Indian market, and now there are just three. With questions arising about two other contender’s long term viability in the market, there is speculation about Jio becoming a monopoly. The global tie-ups and robust foreign investment flow further reinforce these predictions. It is ironic that Mukesh Ambani, who, at one time, warned against data colonization, is now all set to follow the same route. 

It must be remembered that Mukesh Ambani’s Jio started by offering virtually free 4G for several months to subscribers, thereby pushing established players to the brink of bankruptcy. After that, it offered low rate plans to lure customers, and now that it is established, Jio has raised its 4G plan rates. Trade pundits predict that a monopoly could see Jio setting terms and milking customers in the future!

What's your thoughts?
+1
2
Upvote
+1
0
Clap
+1
1
Clap
+1
0
On fire
+1
1
Meh
+1
1
Clap
+1
0
Tags: FacebookfundingGoogleJio PlatformsMicrosoftRelianceReliance IndustriesStartup

Related Posts

featured

Dable, A Korea Based Leading Global Content Discovery Platform Raises US$12M In Series C Round For Global Expansion

January 14, 2021
JUMPSTARTER 2021
Ecosystem

Alibaba Entrepreneurs Fund launches JUMPSTARTER 2021 Global Pitch Competition

August 3, 2020
Riiid
Investments

Korea Based Leading AI Solutions Provider Riiid Secures $41.8M Funding To Accelerate Global Business Expansion

July 25, 2020
Bitsensing
Investments

South Korean Radar Technology Startup Bitsensing Raises $5.8M In Pre-Series A Round

June 8, 2020
Byjus
Investments

Bangalore, India Based Byju’s Raises US$200M From Tiger Global Management

January 19, 2020
ElasticRun
Blockchain

Pune(India) based Logistics start up has raised a funding of 40M US$

November 12, 2019
0 0 vote
Article Rating
Subscribe
Login
Notify of
Please login to comment
9 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
trackback
con cóc số mấy
2 months ago

… [Trackback]

[…] Read More here on that Topic: asiatechdaily.com/jio-platforms-bags-usd-20-billion-in-one-of-the-biggest-fundraising-sprees-ever/ […]

0
trackback
mơ thấy rắn hổ mang cắn
2 months ago

… [Trackback]

[…] Information on that Topic: asiatechdaily.com/jio-platforms-bags-usd-20-billion-in-one-of-the-biggest-fundraising-sprees-ever/ […]

0
trackback
Azure DevOps Services
1 month ago

… [Trackback]

[…] Read More to that Topic: asiatechdaily.com/jio-platforms-bags-usd-20-billion-in-one-of-the-biggest-fundraising-sprees-ever/ […]

0
trackback
hemp oil gum
1 month ago

… [Trackback]

[…] There you will find 12966 more Information to that Topic: asiatechdaily.com/jio-platforms-bags-usd-20-billion-in-one-of-the-biggest-fundraising-sprees-ever/ […]

0
trackback
mơ thấy nhà mới đánh con gì
1 month ago

… [Trackback]

[…] Read More Information here on that Topic: asiatechdaily.com/jio-platforms-bags-usd-20-billion-in-one-of-the-biggest-fundraising-sprees-ever/ […]

0
trackback
card dumps with pin
1 month ago

… [Trackback]

[…] Read More here to that Topic: asiatechdaily.com/jio-platforms-bags-usd-20-billion-in-one-of-the-biggest-fundraising-sprees-ever/ […]

0
trackback
Functional testing as a service
1 month ago

… [Trackback]

[…] Information on that Topic: asiatechdaily.com/jio-platforms-bags-usd-20-billion-in-one-of-the-biggest-fundraising-sprees-ever/ […]

0
trackback
diamond painting kits
1 month ago

… [Trackback]

[…] Find More on that Topic: asiatechdaily.com/jio-platforms-bags-usd-20-billion-in-one-of-the-biggest-fundraising-sprees-ever/ […]

0
trackback
nằm mơ thấy phật bà quan âm
28 days ago

… [Trackback]

[…] Read More here on that Topic: asiatechdaily.com/jio-platforms-bags-usd-20-billion-in-one-of-the-biggest-fundraising-sprees-ever/ […]

0

FREE NEWSLETTER

No Result
View All Result

TRENDING POSTS

  • Art Shaikh, Founder and CEO of CircleIt- A Virtual Time Capsule Right At Your Fingertips!

     7,988 total views,  3 views today

  • How Max Chizhov, Co-Founder And CEO Of iFarm Raised $4M To Build An Indoor Farming Solution Provider In Today’s Urban Environment?

     4,647 total views,  1 views today

  • Vietnamese e-commerce startup Lozi secures new round of financing led by Vulpes Investment Management

     4,087 total views,  1 views today

  • How Mathijs Eefting, Co-Founder And CEO Of Moteefe Raised $25M To Build An E-Commerce Platform Providing Infrastructure, Customization, And Global Fulfillment For 5000+ Retailers?

     3,542 total views,  5 views today

  • Egor Melnikov, Founder And CEO OF ARNA Genomics – On A Mission To Save Lives From Cancer By Developing Innovative Fluid Biopsy Technologies

     3,429 total views,  1 views today

  • Andrew Luong, CEO and Co-Founder of Doorvest- Own High-Yield Rental Homes Entirely Online!

     3,215 total views,  1 views today

  • How David Eberle, Co-Founder And CEO At Typewise Raised $1M To Build A Next Generation Smartphone Keyboard?

     3,139 total views,  1 views today

  • How Yoyo Chang, Co-Founder, CEO and President at KodyPay Raised $2.3M To Revolutionise Payment Experiences?

     2,998 total views,  1 views today

  • Indian Startup Ecosystem – Exclusive Year End Analysis – 2020 – All You Need To Know!

     2,953 total views,  2 views today

  • Sean O’Sullivan, Founder And Managing Partner Of SOSV – A Global Venture Capital Firm With 1000+ Portfolio Companies And $800M+ Assets Under Management

     3,163 total views,  3 views today

COUNTRIES

  •  Australia
  •  Austria
  •  Bhutan
  •  Brunei
  •  Bulgaria
  •  Cambodia
  •  Canada
  •  China
  •  Dubai
  •  Europe
  •  Finland
  •  France
  •  Germany
  •  Hong Kong
  •  India
  •  Indonesia
  •  Ireland
  •  Israel
  •  Japan
  •  Lithuania
  •  Malaysia
  •  Mexico
  •  Myanmar
  •  Nepal
  •  Netherlands
  •  New Zealand
  •  Norway
  •  Philippines
  •  Poland
  •  Qatar
  •  Russia
  •  Singapore
  •  South Korea
  •  Sweden
  •  Switzerland
  •  Taiwan
  •  Thailand
  •  Turkey
  •  Ukraine
  •  United Kingdom
  •  United States
  •  Vietnam

More from our network


  • ktd

  • atd

  • itd

  • ktt

  • kgd

  • kpp

  • ktp

  • kpoppost

  • ustechtimes

Copyright © 2020 AsiaTechDaily.com| About Us | Seed acceleratorTerms of Use| Privacy Policy| Cookie Policy Contact : press@asiatechdaily.com |

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2020 AsiaTechDaily.com| About Us | Seed acceleratorTerms of Use| Privacy Policy| Cookie Policy Contact : press@asiatechdaily.com |

wpDiscuz
9
0
Would love your thoughts, please comment.x
()
x
| Reply