You could soon order ‘everything’ from Tata’s SuperApp; This mean Tata Group poised to take on Amazon and RIL.
The 63-year-old business tycoon seeks to widen his retail footprint in the Indian market at an uncertain time, especially when the space is hot for global players such as Amazon as well as local rivals. Several companies have already made it to the billionaire’s shopping cart.
Nita Ambani is a force to reckon with! Fondly called the “Queen of Mumbai” dons many roles and plays them to perfection.
Since Air India went public with the government having almost a 50 percent stake in it, the airline has recorded many successes as well as failures.
Over the last few weeks, Mukesh Ambani-led Reliance Retail has managed to attract big-ticket investments from global IT giants like Facebook and Google. It is speculated to be holding talks with Amazon and Walmart. The global IT giants’ big-ticket investments are made as Reliance is all set to capitalize on a huge un-penetrated retail market in India. Starting from Qualcomm and Intel to Google and Facebook, the Jio platform has maintained to be valued above Rs 4.5 lakh crore.
As India’s largest telecom operator, Jio’s entry into the 5G market was a given. Ambani even told visiting US President Trump in February that Jio would soon launch a 5G network that was completely free of Chinese components. No one could have guessed what was on his mind back then.
The viewership of OTT platforms has recently skyrocketed as almost the entire world went into lockdown. The pandemic has brought a paradigm shift into how we watch. With the movie theatres closed, viewers across all the age groups are thronging to web platforms that were earlier believed to be a place for only youngsters.
For Facebook’s Mark Zuckerberg, chaos is a time of opportunity. In India, the Silicon Valley billionaire has 400 million strong markets that his company has sadly failed to monetize. Facebook’s investment of $5.7 billion in Reliance Jio Platforms is Zuckerberg’s biggest investment since acquiring WhatsApp.
Facebook announced that it has picked up a minority stake in India’s Telecom Behemoth, Reliance’s Jio platforms. The Facebook investment in Jio is valued at Rs. 43, 574 Crore for a 9.99 % stake, making the overall valuation of Jio Platforms at Rs. 4.62 Lakh Crore.