Facebook, Google to be inducted on Jio Platforms board

New Delhi: Strategic partners in Jio Platforms, Facebook and Google will be inducted on the board of the company. While Facebook is the largest strategic investor in Jio Platforms with 9.9 per cent stake, Google acquired a 7.73 per cent stake in Jio Platforms (JPL) by investing $4.49 billion at valuation of $58.9 billion.

The Google investment is from the committed $10 billion fund for India. The Facebook entry is to Jio Mart and WhatsApp with its subscriber base of 350 million. On the other hand, Google is looking to leverage Jio’s strength at the entry level smart phone because Google Pixel is not a mass market phone.