Google backs Reliance's Jio Platforms with $4.5 billion India investment

NEW DELHI/OAKLAND - Alphabet’s Google will buy a 7.7% stake for $4.5 billion in Jio Platforms, taking a seat on its board alongside another big name backer Facebook to help the digital arm of Reliance Industries realise its lofty ambitions.

The latest investment announced on Wednesday comes just days after Alphabet Inc said it would invest $10 billion in India via a so-called digitisation fund over the next five to seven years through equity deals and tie-ups. The deal with Google will bolster Reliance’s tech ambitions, such as building smart homes, using solutions similar to Amazon.com Inc’s Alexa voice assistant, connected cars and security systems.

Jio Infocomm, the mainstay of Jio Platforms and India’s largest mobile carrier with more than 387 million users, will also widen Google’s reach in a country where just about 500 million of its 1.3 billion population use the internet.

Google is investing in India and doesn’t care about human rights violations in Kashmir. When it comes to Kashmir they’re all blind but thumping chests for HongKong & uyghurs. This hypocrisy of west is exposed

So funny how tech companies get FOMO and they all pile into the same shit

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Google confirms it's investing $4.5 billion in India's Jio Platforms four months after Facebook's punt on the companyGoogle is investing $4.5 billion into India's Jio Platforms less than four months after Facebook said it plans to invest $5.7 billion in the company. Innovation at it's best and regulators cant touch them...this is sort of facilitation fee for regulatory forbearance in India. Indian regulators cant be bought for a price and they dont dare say no to mukesh ambani
Source: CNBC - 🏆 12. / 72 Read more »

Microsoft backs a start-up looking to challenge Google in the 'edtech' marketLondon start-up Kano, which is focused on teaching kids how to code, has raised more than $1 million from Microsoft.
Source: CNBC - 🏆 12. / 72 Read more »

How Jill Hazelbaker went from McCain to Google to Uber - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »