Following a landmark $5.7B investment from Facebook, Jio Platforms, the service division of India's top operator, has hoovered up billions more from the likes of PE firms KKR, Vista, Silver Lake and General Atlantic.
In total it has raised around $10B to digitise services like e-commerce, investors believe it can be as transformative as it was when it launched cheap 4G in 2016. For Facebook, it may help finally launch a payment service in India and give the social network, among other things, the benefits of a strong local partner.
Already it has rolled out a WhatsApp commerce service link
And JioMart is available in 200 locations linkRead more...