Mukesh Ambani’s Jio platform becoming a global tech company, will increase in the world
The plus point of Reliance Jio is its already existing app based ecosystem, where online shopping can be done through video calling. Mukesh Ambani’s Jio platform becoming a global tech company.
Mukesh Ambani, Asia’s richest man, is on track to make Jio Platform a global tech company. If the company’s strategy fits, the tech world may see entry into the Jio platform. And the Jio platform will appear to be standing in the queue of major tech companies such as Google, Amazon, Alibaba and Tencent. The plus point of Jio is its already existing app based ecosystem, where online shopping can be done by video calling. Currently, Jio has a large customer base of 388 million.
Jio is more than telecom company
Under this, Ambani has invested $ 9 billion in Facebook, reflecting its Internet dominance in India. Jio is the fastest growing platform in the world today. Willie Fernhoff, an analyst at Pitchbook, said that Ambani is definitely taking more value of the Jio platform. Than the telecom sector and wants to be the next Google or Tencent.
Jio is on track to become a new type of tech company
Under the leadership of Mukesh Ambani, Reliance Industries has made its mark in various fields ranging from Oil & Energy Company to Retail Shop, Mobile Broadband Career, Digital Platform and more. But now Ambani is working on taking his plan to the next level.
Under this, the company moved towards investment in Silicon Valley and has invested $ 5.7 billion in Facebook and WhatsApp. The deal was announced last month, since then the world got a glimpse of Ambani’s intentions. The deal is still awaiting regulatory approval.
Jio is working on 5G network
With the deal with Facebook and Ambani, a platform is being created where all the technology related features including mobile banking, messaging and social media will be available. It will be like WeChat, a kind of Chinese Tencent platform. But the Jio platform will have a large and reliable customer base in addition to Tencent. According to CNN news, Mukesh Ambani is working towards building a 5G network.
For this, the company is connecting many people associated with Tech World. Ajit Mohan, managing director and vice-president of Facebook India, told CNS that both Jio and Facebook companies will jointly create online platforms for small businesses in India.
Grocery companies trying to dominate the world
Ambani is targeting online grocery shopping. Grassery has a 70 percent share in the Indian retail market. According to Bernstein, 90 percent of the market is unorganized. And run by small shopkeepers, known as grocery stores in India. India’s total retail market size was approximately $ 676 billion in 2018. Which is expected to be $ 1.3 trillion by 2025.
So there is a big chance for Jio, Jio Mart was launched last year. In such a situation, Jio will face the challenge of running 30 million small shops. Although it has 400 million
Large investment in Jio platform
The Jio platform has invested $ 750 million from Silver Lake in recent times, $ 870 million from Vista and General Atlantic. In such a situation, Ambani secured an investment of $ 9 billion in the last four weeks. Ambani aims to have zero net debt by March 2021.