What You Need To Know
- Facebook invests $5.7 Billion in India’s Reliance Jio with the aim of turning WhatsApp into e-commerce platform
- After investment Facebook become one of the largest minority shareholders in Jio to acquire 9.99%
- Facebook aims to bring millions of small business to turn online with WhatsApp e-commerce platform
- India is biggest market for Facebook-owned WhatsApp with over 400 Million users
Facebook Invest $5.7 Billion In Reliance Jio
Facebook just played a larger move to acquire the biggest growing e-commerce market in the world with an investment of $5.7 Billion in India’s Reliance Jio the biggest telecom provider by within the country. India’s Reliance Jio has a massive subscriber base of 388 Million subscribers just acquired in the past five years. Facebook yet to plan a way to monetize platform but there is no doubt that it will be a larger leap to gain control in India’s e-commerce sector in upcoming years. This collaboration of the biggest social media platform and telecom network in terms of subscribers can bring a massive change in the way e-commerce industry works. Facebook focuses on Jio’s JioMart small businesses and turning them into a WhatsApp e-commerce seller’s which would enable people to connect with shops at ease and seamless mobile experience. Following are official press release by FacebookIndia is in the midst of one of the most dynamic social and economic transformations the world has ever seen, driven by the rapid adoption of digital technologies. In just the past five years, more than 560 million people in India have gained access to the internet. Our goal is to enable new opportunities for businesses of all sizes, but especially for the more than 60 million small businesses across India. They account for the majority of jobs in the country, and form the heart and soul of rural and urban communities alike. In the face of the coronavirus, it is important that we both combat this global pandemic now, and lay the groundwork to help people and businesses in the years to come. One focus of our collaboration with Jio will be creating new ways for people and businesses to operate more effectively in the growing digital economy. For instance, by bringing together JioMart, Jio’s small business initiative, with the power of WhatsApp, we can enable people to connect with businesses, shop and ultimately purchase products in a seamless mobile experience.The press release by Reliance Jio
WhatsApp already plays an important role in helping people and businesses connect in India. Reliance Retail’s New Commerce platform, JioMart, is being built in partnership with millions of small merchants and kirana shops to empower them to better serve the needs of Indian consumers. The companies will work closely to ensure that consumers are able to access the nearest kiranas who can provide products and services to their homes by transacting seamlessly with JioMart using WhatsApp.Source: Android Central
