Reliance Industries, Jio Platforms and Facebook today announced the signing of an agreement for an investment of ₹ 43,574 crores ($5.7 Billion) by Facebook in Jio Platforms.
This investment by Facebook values Jio Platforms at ₹ 4.62 lakh crore of pre-money enterprise value ($65.95 billion). Facebook’s investment will translate into a 9.99% equity stake in Jio Platforms, the holding company of India's largest mobile operator, Reliance Jio Infocomm. Jio Platforms is a wholly-owned subsidiary of Reliance Industries.
As one of the largest countries in the world, India is home to some of Facebook’s most thriving communities on WhatsApp, Facebook and Instagram. Over the years, Facebook has invested in India based on a strong belief in India’s entrepreneurial talent and opportunity, to help create a meaningful impact for Indians and Indian businesses using their multiple platforms.
