By Manavi Kapur
Reliance Jio and Facebook have much to celebrate beyond their combined market value.
With Menlo Park-based Facebook buying a 9.99% stake in Jio Platforms, the two giants could be potentially sitting on a goldmine of data. The Mukesh Ambani-owned company is the umbrella entity for all of Reliance Industries’ (RIL) digital and internet businesses. One of the largest investments across the world for a minority stake in the technology sector, this deal puts the spotlight on the huge amount of data each of the platforms generates.
As of July 2017, Facebook had 240 million users in India, while Jio currently has 388 million subscribers. WhatsApp, owned by Facebook, has 400 million users in India, whom the tech giant hopes to leverage for a collaboration with JioMart, Reliance’s online grocery delivery business.
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