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
- L. Catterton
- 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.