Google Is in Advanced Talks To Invest $4 Billion in Jio Platforms (bloomberg.com)
(Tuesday July 14, 2020 @01:33PM (msmash)
from the shape-of-things-to-come dept.)
- Reference: 0133353470
- News link: https://tech.slashdot.org/story/20/07/14/1343241/google-is-in-advanced-talks-to-invest-4-billion-in-jio-platforms
- Source link: https://www.bloomberg.com/news/articles/2020-07-14/google-is-said-in-talks-to-invest-4-billion-in-jio-platforms
Google is in advanced talks to buy [1]a $4 billion stake in Indian billionaire Mukesh Ambani's technology venture , Bloomberg News reported Tuesday, citing people familiar with the matter, seeking to join rival Facebook in chasing growth in a promising internet and e-commerce market. From the report:
> The Mountain View, California-based company has been discussing the investment in Jio Platforms, the digital arm of Ambani's Reliance Industries, the people said, asking not to be identified because the information is private. An announcement could come as soon as the next few weeks, according to the people. Jio is at the center of the Indian tycoon's ambition to transform his energy conglomerate into a homegrown technology behemoth akin to China's Alibaba Group Holding. The venture has turned into a magnet for Silicon Valley investors, attracting almost $16 billion from Facebook to KKR in the past three months. Should the talks with Google result in a deal, that would further burnish Jio's credentials in its push to upend online retail, content streaming, digital payments, education and health care in a market of more than a billion people.
Google said on Monday that it [2]plans to invest $10 billion in India over the next five to seven years.
[1] https://www.bloomberg.com/news/articles/2020-07-14/google-is-said-in-talks-to-invest-4-billion-in-jio-platforms
[2] https://tech.slashdot.org/story/20/07/13/1352256/google-to-invest-10b-in-india
> The Mountain View, California-based company has been discussing the investment in Jio Platforms, the digital arm of Ambani's Reliance Industries, the people said, asking not to be identified because the information is private. An announcement could come as soon as the next few weeks, according to the people. Jio is at the center of the Indian tycoon's ambition to transform his energy conglomerate into a homegrown technology behemoth akin to China's Alibaba Group Holding. The venture has turned into a magnet for Silicon Valley investors, attracting almost $16 billion from Facebook to KKR in the past three months. Should the talks with Google result in a deal, that would further burnish Jio's credentials in its push to upend online retail, content streaming, digital payments, education and health care in a market of more than a billion people.
Google said on Monday that it [2]plans to invest $10 billion in India over the next five to seven years.
[1] https://www.bloomberg.com/news/articles/2020-07-14/google-is-said-in-talks-to-invest-4-billion-in-jio-platforms
[2] https://tech.slashdot.org/story/20/07/13/1352256/google-to-invest-10b-in-india
FB Intel Softbank (Score:2)
by ghoul ( 157158 )
have all invested. Mukesh is now in the richest 10 men in the world after selling a 25% stake in Jio for 25 Billion. He is also planning a US IPO. This will probably be the next meme stock ala TSLA
If they cannot own it, they infiltrate it (Score:1)
Google should stay in Android, instead of infecting every competitor.