RJio-Facebook merger! MSMEs, farmers, merchants, job seekers to benefit - Here's how!

The partnership is expected to accelerate India’s all-round development, fulfilling the needs of Indian people and the Indian economy.

Apr 22, 2020 09:04 IST India Infoline News Service

Mark Zuckerberg led Facebook and Reliance Industries together have cracked a deal on Wednesday, where the former will acquire about 9.99% equity stake in Jio Platforms on a fully diluted basis. The merger involves Rs43,574cr investment by Facebook, tapping Reliance Jio's pre-money enterprise value to a whopping Rs4.62 lakh crore.

Among RIL and Facebook's deal, the most beneficial would be micro-businesses, farmers, merchants, job seekers and users.

RIL in the exchange filing said, "Our goal with this investment is to enable new opportunities for businesses of all sizes, but especially for small businesses across India and create new and exciting digital ecosystems that will empower, enrich and uplift the lives of all 1.3 billion Indians."

The partnership is expected to accelerate India’s all-round development, fulfilling the needs of Indian people and the Indian economy.

According to RIL, the focus will be on India’s 60 million micro, small and medium businesses, 120 million farmers, 30 million small merchants and millions of small and medium enterprises in the informal sector, in addition to empowering people seeking various digital services.

Additionally, RIL believes that Indian should be deprived of the tremendous new opportunities, including opportunities for new employment and new businesses, in the process of India’s 360-degree digital transformation.

India is a haven to some of Facebook’s most thriving communities on WhatsApp, Facebook and Instagram.

Since past years, Facebook has continued to implement various measures to not just connect Indians across the globe, but also partake in a thriving business.

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