On Wednesday, Chairman of Reliance Industries Limited Mukesh Ambani announced that Google will invest $4.5 billion to take a 7.7% stake in Jio Platforms, the telecoms and digital arm of Ambani’s vast Reliance conglomerate.
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“This is a marriage of equals and hence of massive possibilities,” says Sanchit Vir Gogia, CEO of digital advisory firm Greyhound Research, who explained that the two companies can collaborate on devices, search, apps, and e-commerce. Jio’s partnership with Google, in addition to working with companies like Facebook, may put the firms in position to “collectively dominate [India’s] digital market,” he said.
[Fortune]
P.S.: For more information on the recent investments, value that each investor brings to Jio Platforms, engagement with Microsoft, impact on Bharti Airtel, and the challenges the company can expect, read this research report by Greyhound Research.
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