Its been just a few days when Facebook and silver lake invested in Reliance Jio. Now, private Equity Vista Equity Partners will purchase a 2.3 per cent stake of Jio Platforms Limited for Rs 11,367 crore. Vista Equity Partners is a US-based private equity firm and is the world’s largest exclusively tech-focused fund. Jio’s telecom service has about 38.8 crores users across the country, which is quite an attractive factor for investors. Reliance Industries (RIL) and Jio Platforms Limited gave this official statement. This investment will be at the value of 4.91 lakh crores of Jio platform, and the enterprise…
Author: Harsh Verma
After the successful deal between Reliance and Facebook, Jio has achieved another big accomplishment by receiving significant funding. US private equity company Silver Lake Partners has bought a 1.15 per cent stake in Reliance Industries’ Jio Platforms. Silver Lake will invest Rs 5,655.75 crore in Jio Platforms. Reliance said in a statement, “Silver Lake will invest Rs 5,655.75 crore in Jio platforms. For this, the share value or the equity value of Jio platforms is estimated at Rs 4.90 lakh crore while the enterprise value is Rs 5.15 lakh crore.” Whereas, co-CEO of Silver Lake, praised that Jio Platforms is…
Amid coronavirus lockdown, e-commerce stores like Amazon, Flipkart, Shopclues are halted. However, due to less infection rate in India, these e-commerce services are expected to resume shortly. Its an upgraded version of Amazon Pay EMI, which got launched in September 2018 and till now available in western countries only. Now Amazon India has brought a gift in lockdown for Indian customers. Amazon India has now launched a credit service for Indian customers, named ‘Amazon Pay Later’. This kind of service was already started by Flipkart much earlier, and in that too gave customers the option of first purchase and then…
Even when JIO has dominated the Indian telecom market people still use “Airtel” because of its fast internet, good network and better features. Meanwhile, amid lockdown, Airtel has entered into a deal with Nokia to strengthen its 4G network connectivity and increase the range of 5G network. That is, now Airtel’s system will be even better than before, which is good news to its customers. A deal of Rs 7,500 crore or One billion dollars has been done between Nokia and Airtel to improve the 4G network connectivity in India. Under this, Nokia will provide pieces of equipment to strengthen…
In the financial year, 2019-20, LIC, the country’s largest life insurance company, has achieved success in terms of new business. India is currently under lockdown, and businesses got shut, despite this, LIC has made a 25.2 percent increase in the first year’s premium amount from the new insurance policy. The last week of the month of March in every financial year is very crucial for the insurance companies in terms of business. But this time, the financial year fell due to the lockdown due to COVID-19 epidemic. Despite this, LIC made huge profits. During this period, LIC sold 2.19 crore…
Amidst the Corona pandemic crisis, Facebook has announced an investment of a huge amount in Indian telecom company Reliance Jio. Under this deal, Facebook will acquire 9.99 percent stakes of Reliance Jio for about Rs 43,574 crore ($ 6.22 billion). It is the most significant foreign direct investment (FDI) for a minority stake in a company in India. Now, this deal will give a competitive edge to companies like Google Pay, Phone Pay and Paytm. This deal is quite significant as Facebook’s investment in Jio platforms paves the way for money transactions and business promotion on WhatsApp. WhatsApp owned by…
Google CEO Sundar Pichai has donated massive five crore rupees to ‘Give India’ to fight against the coronavirus pandemic. The twitter handle of “Give India” gave this information in its tweet. Thank you @sundarpichai for matching @Googleorg ‘s ₹5 crore grant to provide desperately needed cash assistance for vulnerable daily wage worker families. Please join our #COVID19 campaign: https://t.co/T9bDf1MXiv @atulsatija — GiveIndia (@GiveIndia) April 13, 2020 Before this, Google provided compensation of more than $ 800 million as part of efforts to fight the COVID-19 pandemic worldwide. This compensation includes a $ 200 million investment fund for NGOs and world…
Lockdown due to Coronavirus has halted several businesses in India. Amid this indefinite lockdown, the online food delivery companies Swiggy, Zomato are facing a tough time. The online food delivery orders have got reduced by up to 80 to 90% as people are avoiding products from outside. Earlier, both Zomato and Swiggy used to get more than two million orders every day. Despite lockdown, Zomato recently secured funding of $5 million via investment trust “Pacific Horizon.” After this funding, the total valuation of Zomato stands $3.25 billion. On the other hand, Swiggy secured a funding of $43 million in its…
At this time of pandemic crisis, the workplace, offices are shut down due to lockdown. One can utilize this time well for doing work from home freelancing jobs to earn extra bucks during the lockdown. Several companies, firms, and startups hire people online to work from home for different job roles. Here are four work from home freelancing jobs – Graphic Designing If you are an innovative person and have a creative mind with love and passion, then graphic design is for you. One needs to know software like AutoCAD, Adobe Illustrator, Fusion 360 etc. Most social media firms, print…
The whole world is facing the damage done by the coronavirus epidemic. In India, there is a complete lockdown of 21 days which can be extended as well. The share market is fluctuating; the economy is grappling to survive, and most of the sectors and segments contributing to the economy are shut down. Now, India is on another verge of crisis as 136 million jobs are in danger. Post coronavirus epidemic, one can expect a tsunami of job losses in various private sectors done by companies to bear their enormous losses. These private sectors include Information technology, hospitality, tourism, finance.…