Day: May 17, 2020

Facebook and ByteDance investor General Atlantic pumps $870 million into Reliance Jio

India’s Reliance Jio has scored its fourth investment in four weeks. US-based firm General Atlantic has invested ₹6,598.38 cores ($870 million) in Jio Platforms in exchange for a 1.34% stake.

In the past month, Facebook, Silver Lake, and Vista have invested more than $8 billion in Jio, picking up 9.9%, 1%, and 2.32% stakes.

Bill Ford, Chief Executive Officer of General Atlantic, said the firm shares Reliance chairman Mukesh Ambani‘s conviction that digital connectivity has the potential to significantly accelerate the Indian economy:

As long-term backers of global technology leaders and visionary entrepreneurs, we could not be more excited about

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