Jio Platforms

Last updated

Jio Platforms Ltd.
Company type Subsidiary
IndustryTechnology
Founded2019;5 years ago (2019)
Founder Mukesh Ambani
Headquarters Navi Mumbai, Maharashtra,
India
Area served
Worldwide
Key people
Aakash Ambani
(Chairman & MD)
Products
RevenueIncrease2.svg₹117,805 crore (US$15 billion) (2024) [2]
Increase2.svg₹26,780 crore (US$3.4 billion) (2024) [2]
Increase2.svg₹20,372 crore (US$2.6 billion) (2024) [2]
Total assets Increase2.svg₹506,248 crore (US$63 billion)(2023) [2]
Owners
  • Reliance Industries (67.03%)
  • Strategic investors (18.26%)
  • Private equity firms (9.38%)
  • Sovereign wealth funds (5.33%)
Parent Reliance Industries
Subsidiaries
Website www.jio.com

Jio Platforms is an Indian multinational technology company, headquartered in Mumbai, Maharashtra, India. It is a subsidiary of Reliance Industries. Established in 2019, it acts as a holding company for India's largest mobile network operator, Jio, and other digital businesses of Reliance. [3]

Contents

Since April 2020, Reliance Industries has raised ₹152,056 crore (US$19 billion) by selling 32.97% equity stake in the company. [4] In August 2021, it was ranked 155th on the 2021 Fortune Global 500 list of world's biggest corporations. [5]

History

Jio soft launched on 27 December 2015 with a beta for partners and employees, [6] [7] and became publicly available on 5 September 2016. It is the largest mobile network operator in India and the third largest mobile network operator in the world with over 42.62 crore (426.2 million) subscribers. [8]

In September 2019, Jio launched a fiber to the home service, offering home broadband, television, and telephone services. As of September 2020, Reliance Industries has raised ₹1.65 lakh crore (equivalent to ₹1.9 trillionorUS$24 billion in 2023) by selling nearly 33% equity stake in Jio Platforms. [9] [10]

Later continuing as RIL’s telecom subsidiary, Infotel Broadband Services Limited was renamed as Reliance Jio Infocomm Limited (RJIL) in January 2013. [11]

In 2014, Reliance Jio Infocomm, the 4G LTE venture of Reliance Industries (RIL), has picked up stake in Israeli telecom network vendor Airspan Networks. Reliance Jio will also source 4G LTE towers from Airspan to deploy 4G services. [12]

In October 2019, Reliance Industries (RI) announced the creation of a wholly owned subsidiary for its digital businesses including Jio. In November 2019, the subsidiary was named Jio Platforms. The ₹1.08 trillion (US$14 billion) liability of Jio was transferred to RIL and in turn RIL received preferential shares of Jio Platforms. [13] [14] According to some observers, the restructuring was done to keep the digital businesses of the group within a debt-free entity. [15]

In April 2020, Facebook acquired a 9.99% stake in Jio Platforms for ₹435.74 billion (US$5.5 billion). [16] According to this deal, while Jio Platforms retained ₹149.76 billion (US$1.9 billion), the parent company got the remaining ₹285.98 billion (US$3.6 billion) for redeeming the optionally convertible preference shares it held in the subsidiary. [15]

In May 2020, private equity firm Silver Lake Investors obtained a 1.15% stake with a ₹56.5 billion (US$710 million) investment in the company. [17] But unlike the previous transaction, the entire investment in this case was retained by Jio Platforms. [15] General Atlantic then announced that it would invest ₹65.988 billion (US$830 million) in Jio Platforms for a 1.34% stake in the company. [18] American private equity firm KKR acquired a 2.32% stake in Jio Platforms for ₹113.67 billion (US$1.4 billion). [19]

In June 2020, Emirati sovereign fund Mubadala confirmed that it would acquire a 1.85% stake in the company for ₹90.936 billion (US$1.1 billion). [20] Silver Lake increased its stake to 2.08% with an additional ₹45.47 billion (US$570 million) investment. [21] Abu Dhabi Investment Authority then bought a 1.16% stake in the company for ₹56.84 billion (US$710 million). [22] On 13 June, TPG took stake in Jio Platforms of 0.93% worth ₹45.468 billion (US$570 million). [23] L Catterton also made an investment of ₹18.945 billion (US$240 million) for a 0.39% stake. [24]

In June 2020, Saudi Arabia's Public Investment Fund confirmed that it would acquire a 2.32% stake in the company for ₹113.67 billion (US$1.4 billion). [25] In July 2020, Intel confirmed that it would acquire a 0.39% stake in the company for ₹1.89 billion (US$24 million). [26] In July 2020, Qualcomm confirmed that it would acquire a 0.15% stake in the company for ₹7.30 billion (US$91 million). [27] This was followed by Google purchase of 7.7% stake in the company for ₹337.37 billion (US$4.2 billion). [28]

In June 2021, Jio Platforms unveiled their Android smartphone named JioPhone Next, with plans to launch in India by September 2021. [29]

In February 2022, Jio Platforms formed a joint venture with satellite operator SES. The newly formed Jio Space Technology Limited will deliver broadband services in India of up to 100 Gbit/s capacity using SES's SES-12 high-throughput geostationary satellite and the forthcoming O3b mPOWER medium Earth orbit satellite constellation, to extend JPL's terrestrial network, enhancing access to digital services in unconnected areas within India and the region. JPL and SES will own 51% and 49% equity stake respectively in the new company. [30]

In December 2023, Jio Studios decided to back out of producing upcoming Akshay Kumar movies Hera Pheri 3 and Welcome to the Jungle. [31]

Businesses

Consumer platforms

Enterprise platforms

Acquisitions and investments

RIL has acquired or invested in several companies, which are now under Jio Platforms: [53]

NameTypeAmountStakeRef
Haptik AI-based conversational platform$100 million87% [54]
EmbibeAI-based educational platform$180 million72.69% [55]
Radisys Telecommunication technology$75 million100% [56]
Reverie language technologies LtdVernacular chatbot & speech technologies$35 million83.3%[ citation needed ]
Grab-a-GrubDelivery services$30 million83%[ citation needed ]
Fynd [57] Internet marketplace platforms, E-commerce$15 million87% [57]
EasyGov [58] Citizen convenience services$10 million83% [58]
Asteria AerospaceDrone technology$3.3 million51.78%[ citation needed ]
NetradyneAI services37.4%[ citation needed ]
TesseractMixed reality₹10 crore92.7%[ citation needed ]
SankhyaSutra LabsSimulation services83% [59]
C-SquarePharmaceutical technology platform82% [60] [61]
KareXpertDigital healthcare platform₹10crore [62]
VideoneticsVideo surveillance technology [63]
Covacsis TechnologiesIOT [64]
NEWJ [65] Media₹5crore [66]
Two PlatformsArtificial reality$15 million25% [67]

Valuation

In 2020, the enterprise value of Jio Platforms was estimated to be ₹5 trillion (US$63 billion). [68] The company was also reported to be more valuable than all other businesses of RIL put together. [69] Its market capitalization put it fourth on the list of largest Indian companies, behind RIL (combined entity), Tata Consultancy Services and HDFC Bank. [70]

In January 2024, Bank of America increased their valuation to US$107 billion. [71]

See also

Related Research Articles

<span class="mw-page-title-main">Reliance Industries</span> Indian multinational conglomerate

Reliance Industries Limited is an Indian multinational conglomerate headquartered in Mumbai. Its businesses include energy, petrochemicals, natural gas, retail, entertainment, telecommunications, mass media, and textiles. Reliance is the largest public company in India by market capitalisation and revenue, and the 100th largest company worldwide. It is India's largest private tax payer and largest exporter, accounting for 7% of India's total merchandise exports. The company has relatively little free cash flow and high corporate debt.

<span class="mw-page-title-main">Reliance Communications</span> Indian telecommunications company

Reliance Communications Limited (RCOM) was an Indian mobile network provider headquartered in Navi Mumbai, Maharashtra that offered voice and 2G and 3G and 4G data services. In February 2019, the company filed for bankruptcy as it was unable to sell assets to repay its debt. It has an estimated debt of ₹500 billion against assets worth ₹180 billion.

Hathway Cable & Datacom Ltd, formerly BITV Cable Networks, is an Indian cable television and broadband service provider based in Mumbai. It was the first company to provide Internet using the CATV network in India, and the first cable operator to launch a digital platform in 2006. Hathway Broadband Internet was the first cable ISP in India. Business India Television (BITV) Cable Networks Pvt Ltd was acquired by Hathway in 1999. As of 2007, the company had a 51% stake in Bhupendran Bhaskar Multinet and a 50% stake in Gujarat Telelinks Pvt Ltd (GTPL). In 2011, Hathway GTPL entered Assam with an MoM with V&S Cable Pvt Ltd, and started operations in West Bengal as they acquired KCBPL to create a subsidiary, GTPLKCBPL, responsible for providing services in West Bengal.

Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. It is India's third largest private sector bank by market capitalisation after HDFC Bank and ICICI Bank. As of December 31, 2023, Kotak Mahindra Bank Ltd has 1,869 branches, 3,239 ATMs, and branches in GIFT City and DIFC (Dubai)

<span class="mw-page-title-main">Bharti Airtel</span> Indian multinational telecommunications company

Bharti Airtel Limited, commonly known as Airtel, is an Indian multinational telecommunications services company based in New Delhi. It operates in 18 countries across South Asia and Africa, as well as the Channel Islands. Currently, Airtel provides 5G, 4G and LTE Advanced services throughout India. Currently offered services include fixed-line broadband, and voice services depending upon the country of operation. Airtel had also rolled out its Voice over LTE (VoLTE) technology across all Indian telecom circles. It is the second largest mobile network operator in India and the second largest mobile network operator in the world. Airtel was named India's 2nd most valuable brand in the first ever Brandz ranking by Millward Brown and WPP plc.

Network18 Media & Investments Limited, commonly referred to as the Network18 Group and sometimes as the Network18–Eenadu Group, is an Indian media conglomerate owned by the energy giant Reliance Industries, headed by billionaire Mukesh Ambani. Rahul Joshi is the managing director, chief executive officer and group editor-in-chief of Network18, and Adil Zainulbhai is the chairman of its board of directors.

Viacom18 Media Private Limited is an Indian media company based in Mumbai, India. Founded in 2007 by the MTV Networks Europe division, it later became a joint venture between TV18 and Viacom in 2014, with TV18 becoming the majority shareholder in the company since April 2023, with Paramount Networks EMEAA and Bodhi Tree Systems owning minority stakes. The company owns and operates various channels, as well as content production studios in India.

<span class="mw-page-title-main">Reliance Retail</span> Indian retail company

Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement products, electronic goods, and farm implements and inputs. As of 2023, it has over 245,000 employees at 18,000 store locations in 7,000 towns. Apart from physical stores, the company also sells products on its e-commerce channels.

Flipkart Private Limited is an Indian e-commerce company, headquartered in Bangalore, and incorporated in Singapore as a private limited company. The company initially focused on online book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products.

<span class="mw-page-title-main">DEN Networks</span> Television distribution company in India

DEN Networks Limited is an Indian cable television and broadband service provider company in India. It is owned by Sameer Manchanda and was acquired by Reliance Industries in 2018 along with Hathway. In 2003, it stood as one of the three major cable distributors in India alongside Hathway and InCablenet.

<span class="mw-page-title-main">Airtel India</span> Indian telecommunications company

Airtel India commonly known as Airtel, is the second largest provider of mobile telephony and third largest provider of fixed telephony in India, and is also a provider of broadband and subscription television services. The brand is operated by several subsidiaries of Bharti Airtel, with Bharti Hexacom and Bharti Telemedia providing broadband fixed line services and Bharti Infratel providing telecom passive infrastructure service such as telecom equipment and telecom towers. Currently, Airtel provides 5G, 4G and 4G+ services all over India. Currently offered services include fixed-line broadband, and voice services depending upon the country of operation. Airtel had also rolled out its VoLTE technology across all Indian telecom circles.

<span class="mw-page-title-main">Paytm</span> Indian financial technology company

Paytm is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida, India. Paytm was founded in 2010 by Vijay Shekhar Sharma under One97 Communications. The company offers mobile payment services to consumers and enables merchants to receive payments through QR code payment, Payment Soundbox, Android-based-payment terminal, and online payment gateway. In partnership with financial institutions, Paytm also offers financial services such as microcredit and buy now, pay later to its consumers and merchants.

<span class="mw-page-title-main">Oyo Rooms</span> Indian hospitality company

OYO Rooms, also known as OYO Hotels & Homes, is an Indian multinational hospitality chain of leased and franchised hotels, homes, and living spaces. Founded in 2012 by Ritesh Agarwal, OYO initially consisted mainly of budget hotels. As of January 2020, it has more than 43,000 properties and 1 million rooms across 800 cities in 80 countries.

Nykaa is an Indian e-commerce company headquartered in Mumbai. It sells beauty, wellness and fashion products through its website, mobile app, and over 100 physical stores. In 2020, it became the first Indian unicorn startup headed by a woman.

<span class="mw-page-title-main">Jio</span> Indian telecommunications company

Jio is an indian telecommunications company and a subsidiary of Jio Platforms, headquartered in Navi Mumbai, Maharashtra. It operates a national LTE network with coverage across all 22 telecom circles. Jio offers 5G, 4G and 4G+ services all over India and 5G service almost All Over India. Its 6G service is in the works.

Justdial is an Indian internet technology company that provides local search for different services in India over the phone, website and mobile apps. Founded in 1996 by V. S. S. Mani, the company is headquartered in Mumbai, India. In addition to its headquarters, Justdial has offices in Ahmedabad, Bangalore, Chandigarh, Chennai, Coimbatore, New Delhi, Hyderabad, Jaipur, Kolkata, and Pune. In 2020, Justdial had 10,984 employees, and a database of approximately 29.4 million listings and 536,236 active paid campaigns. On 16 July 2021, Reliance Retail acquired a 66.95% stake in Justdial for ₹3,497 crores.

<span class="mw-page-title-main">Haptik</span> Indian enterprise conversational AI platform

Haptik is an Indian enterprise conversational AI platform founded in August 2013, and acquired by Reliance Industries Limited in 2019. The company develops technology to enable enterprises to build conversational AI systems that allow users to converse with applications and electronic devices in free-format, natural language, using speech or text. The company has been accorded numerous accolades including the Frost & Sullivan Award, NASSCOM's Al Game Changer Award, and serves Fortune 500 brands globally in industries such as financial, insurance, healthcare, technology and communications.

Dunzo is an Indian company that delivers fruits and vegetables, meat, pet supplies, food, and medicines in major cities. It also has a separate service to pick up and deliver packages within the same city. Dunzo currently provides its delivery services in eight Indian cities including Bangalore, Delhi, Gurgaon, Pune, Chennai, Jaipur, Mumbai and Hyderabad. The company also operates a bike taxi service in Gurgaon. Dunzo is headquartered in Bangalore and was founded in 2014 by Kabeer Biswas along with co-founders Ankur Agarwal, Dalvir Suri and Mukund Jha. Dalvir Suri left Dunzo on 3 October 2023, along with Mukund Jha.

<span class="mw-page-title-main">JioCinema</span> Indian video streaming service

JioCinema is an Indian over-the-top media streaming service owned by Viacom18, a joint venture of Reliance Industries and Paramount Global. It offers free advertising- and subscription-based video on demand and live streaming content.

India Grid Trust (IndiGrid) is an Indian power sector infrastructure investment trust (InvIT), sponsored by KKR & Sterlite Power (SPTL). Established on 21 October 2016, the entity is registered with SEBI pursuant to the InvIT regulations to own power transmission and renewable assets. Harsh Shah is the CEO and Director of IndiGrid and Jyoti Kumar Agarwal is the CFO.

References

  1. ↑ "Jio Glass faces an uphill ride as virtual/mixed realty products remain niche" . Retrieved 18 June 2020.
  2. 1 2 3 4 "AR_2022-2023". Reliance Industries Limited.
  3. ↑ Kalyanaraman, Anand. "The financial engineering behind the Great Jio Fund-raise". Business Line. Retrieved 31 January 2021.
  4. ↑ "Google to invest Rs 33,737 crore for a 7.7 per cent stake in Jio Platforms". The Economic Times. Retrieved 15 July 2020.
  5. ↑ "Reliance slips 59 places on Fortune list, SBI jumps 16 notches" . Retrieved 2 August 2021.
  6. ↑ "Jio opens Mobile Number Portability, urges incumbent telcos to fulfil regulatory obligations". India Today. 3 September 2016. Archived from the original on 3 September 2016. Retrieved 3 September 2016.
  7. ↑ "Reliance Jio Infocomm launches 4G services for its employees", The Economic Times , 27 December 2015, archived from the original on 30 December 2015, retrieved 29 December 2015
  8. ↑ "RIL Q4 2020–21 Reports". Reliance industries. 22 January 2021. Archived from the original on 10 March 2022. Retrieved 30 January 2021.
  9. ↑ "Google to invest Rs 33,737 crore for a 7.7 per cent stake in Jio Platforms". The Economic Times. Archived from the original on 17 January 2021. Retrieved 15 July 2020.
  10. ↑ "Reliance Raises ₹ 1.65 Lakh Crore From Stake Sales At Retail, Digital Arms: Key Facts". NDTV Profit. 23 September 2020. Archived from the original on 2 December 2020. Retrieved 14 April 2021.
  11. ↑ https://thebrandhopper.com/2020/11/17/brand-reliance-jio-the-history-and-the-historic-launch/
  12. ↑ https://www.telecomlead.com/4g-lte/reliance-jio-picks-up-stake-in-4g-network-vendor-airspan-52966
  13. ↑ "RIL to create ₹1.08-lakh-cr digital giant". The Hindu Business Line. Retrieved 8 May 2020.
  14. ↑ "RIL's new digital unit christened Jio Platforms Ltd". The Hindu Business Line. Retrieved 8 May 2020.
  15. 1 2 3 "RIL Raises Nearly Rs 50,000 Crore From Jio Platforms Deals With Facebook, Silver Lake". BloombergQuint. Retrieved 8 May 2020.
  16. ↑ "Facebook to buy 9.99% stake in Reliance Jio platforms for $5.7 billion". Hindustan Times. Retrieved 8 May 2020.
  17. ↑ "Private equity firm Silver Lake to invest Rs 5,655.75 crore in Reliance Jio Platforms". Economic Times. Retrieved 8 May 2020.
  18. ↑ "General Atlantic to invest Rs 6,598.38 crore in Jio Platforms". The Economic Times. 18 May 2020. Retrieved 27 May 2020.
  19. ↑ Tripathi, Dhirendra (22 May 2020). "KKR to buy 2.32% Jio Platforms stake for ₹11,367 crore". Livemint. Retrieved 27 May 2020.
  20. ↑ "Mubadala to buy 1.85% stake in Jio Platforms for ₹9093.6 crore". The Hindu. Retrieved 4 June 2020.
  21. ↑ "Second mega Jio deal in a day: Silver Lake to invest additional ₹4,547 crore". Livemint. Retrieved 7 June 2020.
  22. ↑ "Jio Platforms Sells Rs 5,684-Crore Stake To Abu Dhabi Investment Authority". Bloomberg Quint. Retrieved 7 June 2020.
  23. ↑ "TPG to invest Rs 4547 cr in Jio Platforms for 0.9% stake; ninth deal by Jio in less than 2 months". CNBC TV18. Retrieved 17 July 2020.
  24. ↑ "Jio-L Catterton deal: After TPG, L Catterton becomes 10th investor in Jio Platforms in historic fundraising by RIL unit". Money Control. Retrieved 17 July 2020.
  25. ↑ "Saudi Arabia's Public Investment Fund to buy 2.32% stake in Jio Platforms for ₹11367 crore". Money Control. Retrieved 18 June 2020.
  26. ↑ "Intel-Jio deal: US semiconductor giant to invest Rs 1,894.5 crore in RIL unit". Money Control. Retrieved 17 July 2020.
  27. ↑ "RIL hits record high as Qualcomm invests Rs 730 crore in Jio Platforms; m-cap crosses Rs 12 lakh crore". MoneyControl. Retrieved 15 July 2020.
  28. ↑ "Google to Invest Rs 33,737 Crore in Jio Platforms for 7.7% Stake, Mukesh Ambani Announces at RIL AGM". News18. Retrieved 15 July 2020.
  29. ↑ "Google and India's Jio Platforms announce JioPhone Next". TechCrunch. 24 June 2021. Retrieved 24 June 2021.
  30. ↑ Jio and SES forge joint venture for satellite-based broadband services across India Computer Weekly. 14 February 2022. Accessed 30 April 2022
  31. ↑ "Jio Studios Withdraws Support from". BruTimes.
  32. ↑ "MyJio App - Manage Jio Account & Services Online". Jio.com. 16 July 2020. Retrieved 16 July 2020.
  33. ↑ "JioSaavn releases multi-platform experience with living search, elevated podcasts, and video experience". Radio And Music. 16 July 2020. Retrieved 16 July 2020.
  34. ↑ "JioChat messaging app now available on Android, iOS: Here's how to download and use it". India Tv News. 16 July 2020. Retrieved 16 July 2020.
  35. ↑ "Jio to launch video conferencing platform JioMeet to take on Google Meet, Zoom". Livemint. 1 May 2020. Retrieved 19 June 2020.
  36. ↑ "JioGamesCloud Now Available in Beta Phase: Jio's Cloud Gaming Service". JustDailyDose. 23 December 2022. Retrieved 23 December 2022.
  37. ↑ "Jio Browser Launched for Android, Features Support for 8 Indian Languages". Gadgets360. 16 July 2020. Retrieved 16 July 2020.
  38. ↑ "Jio के इस ऐप से चुटकियों में ट्रांसफर करें फोटो और वीडियो, जानें कैसे करता है काम". News18 Hindi. 16 July 2020. Retrieved 16 July 2020.
  39. ↑ "Reliance Jio launches JioNews, a one-stop platform for newspapers, magazines". Hindustan Times. 1 May 2020. Retrieved 16 July 2020.
  40. ↑ "Download Jio Home Mobile App for your home remote control". Youth Apps. 16 July 2020. Retrieved 16 July 2020.
  41. ↑ "Jio to Launch Apartment Security Service Called Jio Gate, Official Apps Listed Online". Gadgets360. 16 July 2020. Retrieved 16 July 2020.
  42. ↑ "What is Reliance Jio Cloud Storage in Hindi". Techno2hindi. 16 July 2020. Retrieved 16 July 2020.
  43. ↑ "Know about JioSecurity, how to install it on Android device". India Today. 16 July 2020. Retrieved 16 July 2020.
  44. ↑ "Reliance Jio launches new medical and fitness app 'JioHealthHub' for the health conscious". India Today. 16 July 2020. Retrieved 16 July 2020.
  45. ↑ "Reliance Jio launches JioPOS Lite app that lets you earn commission on every recharge". Firstpost. 15 July 2020. Retrieved 15 July 2020.
  46. ↑ "Jio Games features announced at Reliance AGM 2019". BGR. 15 July 2020. Retrieved 15 July 2020.
  47. ↑ "Jio Platforms Primed to Play Pivotal Role in Indian Tech Space with Recent Investments". News18. 18 May 2020. Retrieved 27 May 2020.
  48. 1 2 "JioMart app makes debut on Google Play Store for Android users". The Times of India. 18 July 2020. Retrieved 18 July 2020.
  49. ↑ Jiosign; retrieved on 20 January 2023
  50. ↑ "Reliance Industries launches unlimited free conferencing app JioMeet as competition to Zoom". The Economic Times. Retrieved 19 November 2022.
  51. ↑ "Jio launches special JioFiber Business plans for traders and companies, here are all pricing details". India Today. 9 March 2021. Retrieved 10 March 2021.
  52. ↑ "Reliance Jio rides high on GST, comes out with JioGST starter kit". The Economic Times. Retrieved 10 March 2021.
  53. ↑ "Valuation of Jio's digital business expected to improve, say analysts". Business Standard. Retrieved 8 May 2020.
  54. ↑ "Reliance Jio arm acquires 87% in AI chatbot firm Haptik Infotech". Livemint. Retrieved 3 April 2019.
  55. ↑ "RIL completes acquisition of 73% stake in AI firm Embibe". The Economic Times. Retrieved 17 November 2022.
  56. ↑ "RELIANCE INDUSTRIES TO ACQUIRE RADISYS". Radisys. Retrieved 16 July 2020.
  57. 1 2 "Reliance Industries acquires Google-backed firm Fynd - Times of India". The Times of India. TNN. 5 August 2019. Retrieved 17 November 2022.
  58. 1 2 "RIL to acquire Easygov through subsidiary Reliance Industrial Investments & Holdings". 23 February 2019.
  59. ↑ "To boost e-comm play at bottom, RIL acquires Reverie, EasyGov and Sankhya Sutra Labs". Entrackr. Retrieved 4 March 2019.
  60. ↑ "Mukesh Ambani on shopping binge; Reliance buys into 23 firms in 3 years". www.businesstoday.in. 28 August 2020. Retrieved 10 March 2021.
  61. ↑ Pathak, Kalpana (20 August 2020). "Netmeds deal expands Reliance's healthcare portfolio". mint. Retrieved 10 March 2021.
  62. ↑ Pathak, Kalpana (23 May 2018). "Reliance Industries unit invests Rs10 crore in KareXpert Technologies". mint. Retrieved 10 March 2021.
  63. ↑ Chanchani, Madhav. "Reliance's GenNext ventures backs surveillance solution company Videonetics". The Economic Times. Retrieved 10 March 2021.
  64. ↑ Chanchani, Madhav. "Covacsis gets funds from Reliance Industries, Cisco venture capital arms". The Economic Times. Retrieved 10 March 2021.
  65. ↑ "RIL arms acquires substantial stake in media startup NEWJ". The Economic Times. Retrieved 17 November 2022.
  66. ↑ Upadhyay, Harsh (7 September 2019). "Reliance invests Rs 5 Cr in text-based video media startup NEWJ". Entrackr. Retrieved 10 March 2021.
  67. ↑ Yessar Rosendar, Harsh (7 September 2019). "Reliance's Jio Platforms Invests In Deep Tech Startup Two Platforms, Betting On The Metaverse". Forbes. Retrieved 4 February 2022.
  68. ↑ "What makes Jio Platforms command a ₹5 trillion valuation". Livemint. Retrieved 8 May 2020.
  69. ↑ "Jio Platforms now more valuable than rest of RIL businesses put together". Business Standard. Retrieved 8 May 2020.
  70. ↑ "RIL gains 4% after Vista Equity's investment in Jio Platforms: Know more about the deal". CNBC TV18. Retrieved 8 May 2020.
  71. ↑ "BofA gives Ambani's Jio Platforms a $100B-plus valuation". Tech Crunch. Retrieved 10 January 2024.

Further reading

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.