Facebook’s $5.7 billion investment in Reliance Jio has a number of business objectives. Simply, Facebook believes it wins when “everyone” is connected to the internet, and Jio has 388 million internet access accounts.
The investment gives Facebook a 10-percent stake in Jio Platforms, the umbrella entity for all of Reliance digital and internet businesses, including mobile apps, broadband connectivity, smart devices, cloud computing, big data analytics, artificial intelligence, internet of things, augmented and mixed reality, and blockchain.
The investment should help Facebook increase usage of WhatsApp, its messaging platform; the Facebook app and create additional opportunities for mining and monetizing all the Reliance firm data. Facebook conceivably also could get a boost for any e-commerce efforts. JioMart is envisioned as primary beneficiary from integration of WhatsApp messaging, for example.
Some might also note that the move is consistent with expansion of Facebook’s role in multiple parts of the internet ecosystem, from connectivity to social networking and other apps.
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