Facebook is about to invest in the 9.99% stakes of the Jio platform which totals to a lump sum of Rs. 43, 574 crores which will be of great help in the wholesome reduction of the debt in oil retail, and in addition to that, it can also strengthen the brand name of the company in the social media as Facebook has the largest social media market.
The Jio platform is the parent of the data and phone unit of Reliance Jio and also varied digital forms like those of jio Saavan, Jiomart, Jio Cinema, and many others. Facebook is even looking forward to creating an app like that of WeChat with the help and collaboration of Jio’s wide reach as well as features of WhatsApp.
But at the same time, special care is taken that the independence of the entities- precisely Whatsapp and Jio are kept intact. The separation of the business is still undisturbed apart from the models where the collaboration is really necessary. Both platforms have also vowed with the deal to cross leverage so that the business can grow and get benefitted together with the collaboration. Both companies released separate statements. The company will work together closely so that the consumer of the services can access the best.
The Jio Infocomm is still an independent company after the amazing deal. There are possible ventures according to the experts which will have their flavors shortly and the neutrality is going to end. The deal is one of the key essential moves which can help the company be completely free of debt by the nd of Mach 2021. On the other hand, the investment of face in Jio can help it strengthen the reach of WhatsApp much more than it has as of now.