Is the Jio + Facebook deal a winner for all?

BREAKING NEWS - Facebook buys 9.9% stake in Reliance Jio for $5.7B (Rs 43,574 cr)

The partnership between the 2 companies comes at a significant time when not just the country but businesses across the globe have been impacted due to the COVID outbreak.  

What's in it for Facebook?

1. Facebook wants to reach the next billion users — those who are getting on the internet for the first time in India’s developing economy. With 'Free Basics' banned due to net neutrality rules, the social media giant was looking to garner traction with new ways and this partnership with jio is definitely it.

2. Reliance Jio is the best partner to battle the rapid rise of TikTok

3. Since Reliance Group has a good relationship with the current BJP government, there could definitely be some additional advantages to the deal.

What's in it for Reliance Jio?

1. Jio is looking to enter other markets beyond India, Facebook’s backing will help make all negotiations a little easier.

2. Reliance Jio will take Facebook's help to make its tech offerings much more desirable - Voice assistant, AI-Video calls etc.

3. Jio will set up Jiomart - an e-commerce business with Reliance retail and Whatsapp.

4. Facebook and Jio had both made separate bids for IPL streaming rights but lost to Star Network. We will now see them joining hands and making a bigger bid in 2022.

5. The investment will help Jio pay back some of its debt.

While this deal is a win-win for both digital giants, is it a win for us? The people of India? Only time can tell..... 

#Jio #Reliance #Facebook #DigitalTransformation #DigitalEconomy DigitalIndia #IndianEcomony