BanglaHunt Desk: Facebook has already invested Rs 44,000 crore in jio. This knot is expected to revolutionize the e-commerce business. Ambani wants to capture the market of Amazon Flipkart by joining Jio Mart with WhatsApp.
This time, US private equity firm Silver Lake is investing Rs 5,755.75 crore in Geo platforms. Naturally, this is a great achievement for any Indian company.
Aon Durban, co-CEO and managing partner at Silver Lake, said he was pleased with the deal and that Reliance Jio was one of the best in the world.
Since the launch of Geo in 2016, Reliance has emerged as the only company in the country capable of competing with American technology groups in the fast-growing Indian market. Reliance has expanded e-commerce in every field from mobile telecom to home broadband.
Mukesh Ambani has decided to link Geomart with WhatsApp to connect small businesses in India with technology. The new e-commerce model will be developed by Geomart and WhatsApp to bring small and medium shops, grocers, stationery shops, hawkers and small traders under one umbrella. From where you can order daily necessities from local shops or markets. Prices can be met through WhatsApp. And Geomart will deliver that order to the door of the house.
In addition, small businesses will be accustomed to digital shopping with the pairing of Geomart and WhatsApp. In the event of a lockdown or future crisis, customers will be able to order items online. A new horizon of digital business will open in the country. The livelihood of small traders will not be affected. Second, customers also have benefits. Everyday necessities will come in handy while sitting at home. Since Geomart is Reliance Geo's platform, the offer will continue at different times.
In November 2019, the market value of Mukesh Ambani's company was around 56-70 billion US dollars. As a result, his 10 percent stake is worth ৬ 7.5 billion to ৭ 8 billion. Zuckerberg also wrote about this on his Facebook page. He said Facebook is partnering with the Geo platform. We have made financial investments. At the same time, we are working together on some big projects ahead, which will further enhance the commercial potential in India.