The social media and tech giant 'Facebook' has joined its hand with the Indian telecommunication giant 'Jio' buying the largest minority share/stack in INR 43,573 crore. Recently, Facebook CEO Mark Zuckerberg and Reliance Jio Owner Mukesh Ambani have announced the involvement of Facebook in the Indian telecommunication market buying 9.99 percent stack for almost 44 thousand crores. After that, the investment values Jio Platforms Limited (JPL) at a record Rs 4.6 lakh crore making JIO fifth-largest company of India behind its parent Reliance Industries (RIL), TCS, HDFC Bank & Hindustan Unilever (HUL).
The main question is "Why American tech giant Facebook brought Jio stacks and invested in telecommunication market even though they can invest in other popular tech platforms".
The reason for the investment of such huge money by Facebook is obviously to enter the tech market of India, As the Indian market is one of the huge markets of the world with the largest population 1.38 billion. But the main reason for the involvement of Facebook in the Indian market is that Facebook is going to launch the product related to TikTok due to the recent success of TikTok and almost half of the Facebook story is filled with TikTok videos. So Facebook was planning to buy TikTok looking at its huge demand but do you know what the TikTok owner said to Mark Zuckerberg is a direct 'NO' to his proposal. Yes, the TikTok corporation rejected the proposal of Facebook to acquire their company. So, Mark Zuckerberg was not planning to sit relax and do nothing and they recently decided to launch the product like TikTok and even better to compete with the TikTok and grow its business. As they know that the TikTok is highly popular in the market like India, China, Pakistan, Nepal, Bangladesh, and other Asian countries.
So, Mark Zuckerberg has planned to initialize its business making good relations with India by investing in its one of the largest telecommunication market so that they can easily acquire the Indian market. Take a look at how Mark Zuckerberg gave the statement on Facebook Jio deal.
Talking about the telecom arm Reliance Jio has grown as one of the largest telecom networks with a subscriber base of 370 million in a short span of three years. In its amazing journey, it disrupted the entire telecom business in the country and many telecom companies either stopped the service or merged with others or filed for bankruptcy. Take a look at how Mukesh Ambani gave the statement on the Jio Facebook deal.
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