Google invests $4.5B in Reliance Jio, will jointly develop an entry-level smartphone

During its AGM, Reliance today announced that Google is investing $4.5 billion in its Jio platforms for a 7.7% stake. In April, Facebook made a similar investment in Reliance Jio. Facebook invested $5.7 billion for a 9.99% stake in Jio, making it the largest minority stockholder. In addition to Facebook and Google, Jio has received billions of investments from the following companies in the last few months.

  • Qualcomm Ventures
  • Silver Lake
  • Vista Partners
  • General Atlantic
  • KKR
  • Mubadala
  • ADIA
  • TPG
  • L. Catterton
  • PIF
  • Intel Capital

Jio platform today also announced that it is partnering with Google to develop an affordable smartphone running Android OS.

Google and Jio Platforms have entered into a commercial agreement to jointly develop an entry-level affordable smartphone with optimizations to the Android operating system and the Play Store.

Source: Google

To know more stay tuned to www.nerdytechnos.com . Please follow or subscribe for latest info.

You can also Follow us on twitter @Nerdytechnos For the latest digital news.

You can also Follow us on facebook @Nerdytechnos For the latest digital news.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.