Facebook made a big investment in India by investing $ 5.7 billion in Jio Platforms, a technology subsidiary of multinational company Reliance Industries. Jio operates a variety of broadband, mobile services, and online commerce platforms, and Facebook investments have a 10% stake in the company, making it the smallest and largest shareholder.
India's main Facebook footprint comes from a huge WhatsApp user base today. More than 400 million Indians use messaging apps more than anywhere in the world. In a blog post written by David Fischer, Chief Sales Officer and Vice President Ajit Mohan of India, one of the company's investment goals is “WhatsApp is deeply rooted in Indian life. It has become a common verb in many Indian languages and dialects. ”
Fischer and Mohan said, “One of our collaborations with Jio is to create new ways to operate more effectively in the digital economy where people and businesses grow. “For example, by integrating Jio's small business initiative, JioMart, with the power of WhatsApp, people can connect, shop, and ultimately buy products in a seamless mobile environment.”
India last week Economic time Facebook and Reliance reported that they plan to create a WeChat style "super app" in India by leveraging WhatsApp and Jio services. Tencent's WeChat has been widely deployed in China by over 1 billion users and many small businesses using it for payment, promotion and communication.
WhatsApp's reach in India is almost identical to Jio's, and it has been very confusing in the market by offering a much discounted 4G plan than its competitors. According to a Facebook blog post, the company said it had “over 380 million people online.” Facebook had previously tried to provide Internet access in India, but the misconducted Free Basic program was ultimately forbidden to violate Internet neutrality.
Fischer and Mohan said, “We are excited to increase our investment in India's dynamic digital economy. “Geowa's efforts will focus on opening new doors and promoting India's economic growth and people's prosperity. We are cooperating with Jio to develop this vision and look forward to future cooperation in India. ”