Google to invest in Reliance Jio Platorms!

Google to invest in Reliance Jio Platorms!

google's investment in jio platform

Mukesh Ambani, chairman of the Reliance Industries proclaimed that Google will invest Rs 33,737 crore for a 7.7 per cent stake in Jio platforms at the group’s 43rd and first ever virtual annual general meeting. The meeting happened on Wednesday afternoon. Jio platforms is the digital arm of Reliance Industries Ltd.

This has been quite a year for the Mukesh Ambani as Jio platforms has seen 14 investments since April 22 this year.

Sundar Pichai was born in India and he has made his nation extremely proud of his achievements as the chief executive officer of parent Alphabet Inc. He stated that the coronavirus occurrence has further given us an insight on the importance and value technology holds for conducting businesses and connecting with family and friends alike.

Google to invest in Reliance Jio Platorms!

Meanwhile, in view of the same ideology, Google had set forth its plans to spend $10 billion to help expedite the adoption of digital technologies in India over the next five to seven years, on Monday.

Interestingly, Google has become the second largest foreign investor in the Jio Platforms with this handsome investment. It comes right after Facebook who has invested Rs 43,574 crore for a 9.99 per cent stake in the digital arm of the Reliance Industries Ltd.

Reliance Industries aforementioned Google’s investment isn’t simply financial one but a well thought out investment by the internet giant. Now, Jio has currently four deliberate partners Facebook, Intel, Qualcomm and Google. These, besides yielding money, are getting to play a strategic role in shaping the long run of Jio, the company cited in a statement.

In addition, Reliance Industries recently became the primary Indian company to traverse the twelve million mark in terms of market capitalization.

Further, RIL Chairman expressed his immense gratitude to all the investors for putting their belief and optimism in the company.

Nepotism

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