Google invests $4.5B in Reliance Jio, will jointly develop an entry-level smartphone

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Published on July 15, 2020

published on July 15, 2020

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During its AGM, Reliance today announced that Google is investing $4.5 billion in its Jio platforms for a 7.7% stake. In April, Facebook made a similar investment in Reliance Jio. Facebook invested $5.7 billion for a 9.99% stake in Jio, making it the largest minority stockholder. In addition to Facebook and Google, Jio has received billions of investments from the following companies in the last few months.

Qualcomm Ventures
Silver Lake
Vista Partners
General Atlantic
KKR
Mubadala
ADIA
TPG
L. Catterton
PIF
Intel Capital

Jio platform today also announced that it is partnering with Google to develop an affordable smartphone running Android OS.

Google and Jio Platforms have entered into a commercial agreement to jointly develop an entry-level affordable smartphone with optimizations to the Android operating system and the Play Store.

Source: Google

More about the topics: google, JIo, Relaiance

Pradeep Viswav

Software and Services Expert

Pradeep is a Computer Science and Engineering Graduate. He was also a Microsoft Student Partner. He is currently working in a leading IT company.

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