A few weeks later, Facebook made a confirmation that the company invested $5.7 billion in India’s top telecom service operator Jio. Now, private equity company Silver Lake confirms that it will invest in Jio. Recently, the company announced that it will invest $746.8 million (56.56 billion Indian rupees) in India’s top telecom operator Jio for about 1.15% stake in the Jio Platforms, providing it a valuation of around $65 billion, a 12.5% premium to the value oblique by the Facebook investment.

Silver Lake, the Menlo Park-established PE Company has around $40 billion in total assets and committed capital, and has invested in more than dozens of tech companies from last few years which include Skype, Alibaba’s Ant Financial, Chinese ride-hailing app Didi Chuxing, consultancy firm Gartner, and Video-game engine maker Unity, and the important thing is that most of the investment is made in recent weeks.

In this year, Silver Lake has made an investment in various global companies such as Expedia, Airbnb, Waymo, Twitter (In this firm, Silver lake invested around $1 billion), and ServiceMax. This is not the first time, Silver Lake invested in an Indian company as in 203, it invested Eka, a Bangalore-based commodity trading and risk management software agency.

Reliance JIO is an Indian telecom operator Platforms that was started its commercial operation in the year 2016 and turn over the Indian telecom market by offering unlimited 4G data and voice calls services for its users and that too for 6 months without taking any charge. Jio is a part of Reliance Industries (India’s most re-owned agency by market value), and now Jio has more than 388 million users since its launch by becoming India’s top telecom operator.

Also Read: Apple’s Market Services Exceed All-Time Highs and Help to Mitigate The Effects of Coronavirus

Jio Platforms is one of the most recognized companies worldwide which is led by a highly strong and established management team that focuses on driving and actualizing a strong vision. They worked with some of the beyond engineering abilities to successfully bringing the reality of low-cost telecom services to large consumers and small businesses population. The market potential company is addressing is massive, and it is a great opportunity for us to work with Mukesh Ambani and his team at Reliance Jio to further spread the Jio mission, said Egon Durban, managing partner and chief executive at Silver Lake through interview.

In an interview, Mukesh Ambani said that Silver Lake is an outstanding partner for top technology companies worldwide and has a good record in it. Silver Lake is one of the top agencies in technology and finance. We are highly excited to work with them and leverage the global technology relationship for the betterment of the Indian Digital Society.

About Jio’s earning last week, Mukesh Ambani told that several firms had shown their interest in buying a stake of Jio Platforms, in which he has made an investment of more than $30 billion, in the stir of the deal with Facebook. Facebook told that other than providing the capital to Jio platforms for around 10% stake in the company, its world also works with Jio on various other areas starting with e-Commerce.

CTA
Anshul Sharma
Author

Being the Co-Founder of Fluper, one of the Leading App Development Companies, Mr. Anshul Sharma has a wide-ranging experience in Business Growth. He has paved his own path as an extremely intensive product strategist and user experience proficient entrepreneur. His keen interest in the tech updates urges him to write about the latest tech news and make other businesses or enterprises aware of the changing market scenario.

Write A Comment

    SSL Secure

    Your Idea is 100% protected by our non disclosure agreement

    Want to Discuss Your Idea?

    Fluper is capable of providing solutions that are hard to find anywhere in the market so quickly.

    [email protected]