Facebook has recently purchased 9.99% stake or 10% stake for Rs 43574 crore.
What are benefits for JIO?
Well firstly, JIO is the most successful tech company in INDIA as it has demolished the telecommunication market in just 4 years. Today, most of the people are having internet connection and that is because of JIO.
JIO also has many other services:
- and JioMart
As you can see, they are serving many services to the consumers. JioMart is the service in which customers and Kiranas are connected to each other for grocery shopping. They give free delivery too. Because of this deal Jio can now accept payments through WhatsApp, Opening new horizons for JioMart service.
But wait, WhatsApp doesn’t allow payments yet then how can this be done? Here comes the benefit of Facebook.
What are benefits of Facebook?
Facebook has been trying for so long to get approval for starting payment in WhatsApp. But they have failed to get approval. Now because of this deal, Jio can help Facebook in getting approval and starting the payment system. JIO is huge company in INDIA, so the chances are they will get the approval.
With this deal, Facebook can now take advantage of JIO’s massive number of subscribers and it’s network. Facebook should be planning ahead for what great things to bring to INDIA. With JIO willing to bring 5G to INDIA, Facebook could bring it’s VR and AR technology to INDIA. Overall Facebook can now finally do something in INDIA with this deal taken place.
The both companies are also willing to help 120 million kisans and 60 million SMEs(Small and Medium Enterprises), students, teachers, healthcare women and youth. This is a good initiative by them. They are also willing to help individuals and businesses by creating many opportunities for them.
This is the third investment done by Facebook in INDIA. The first two investments were done in Meesho and Little Eye.
This deal is really exciting as it brings two tech giants together and can innovate INDIA. This deal really opens up many new horizons for INDIA and we should all be excited for that. First the payment service will go to another level when we can finally pay in WhatsApp. What do you think of this deal? Let me know in the comments down below.
This was tweeted by JIO :-
There is a video where Mukesh Ambani welcomes Mark Zuckerberg and talks about the deal.
To gain knowledge about 5G click here.
If you want to know what will happen to restaurants after lockdown click here.
HOPE YOU ARE SAFE AND WELL