Jump to content

Jio Platforms

From Wikipedia, the free encyclopedia
(Redirected from Reliance Infratel Limited)
Not to be confused with Jio.

Jio Platforms
Company typeSubsidiary
IndustryTechnology
Founded2019; 5 years ago (2019)
FounderMukesh Ambani
HeadquartersNavi Mumbai, Maharashtra,
India
Area served
Worldwide
Key people
Akash Ambani
(Chairman)
Kiran Thomas
(CEO)
Products
RevenueIncrease ₹117,805 crore (US$14 billion) (2023)[2]
Increase ₹26,780 crore (US$3.2 billion) (2023)[2]
Increase ₹20,372 crore (US$2.4 billion) (2023)[2]
Total assetsIncrease ₹506,248 crore (US$61 billion)(2023)[2]
Owners
  • Reliance Industries (67.03%)
  • Strategic investors (18.26%)
  • Private equity firms (9.38%)
  • Sovereign wealth funds (5.33%)
ParentReliance Industries
Subsidiaries
Websitewww.jio.com

Jio Platforms Limited is an Indian multinational technology company, headquartered in Mumbai, India. It is a subsidiary of Reliance Industries. Established in 2019, it acts as a holding company for India's largest mobile network operator, Jio, and other digital businesses of Reliance.[3] Since April 2020, Reliance Industries has raised ₹152,056 crore (US$18 billion) by selling a 32.97% equity stake in the company.[4] In August 2021, it was ranked 155th on the 2021 Fortune Global 500 list of the world's biggest corporations.[5]

History

[edit]

Jio soft-launched on 27 December 2015 with a beta for partners and employees[6][7][8] and became publicly available on 5 September 2016. It is the largest mobile network operator in India and the third largest mobile network operator in the world, with over 42.62 crore (426.2 million) subscribers.[9]

In September 2019, Jio launched a fibre-to-the-home service, offering home broadband, television, and telephone services. As of September 2020, Reliance Industries has raised ₹1.65 lakh crore (equivalent to ₹1.9 trillion or US$23 billion in 2023) by selling a nearly 33% equity stake in Jio Platforms.[10][11]

Later, continuing as RIL's telecom subsidiary, Infotel Broadband Services Limited was renamed Reliance Jio Infocomm Limited (RJIL) in January 2013.[12]

In 2014, Reliance Jio Infocomm, the 4G LTE venture of Reliance Industries (RIL), picked up a stake in Israeli telecom network vendor Airspan Networks. Reliance Jio will also source 4G LTE towers from Airspan to deploy 4G services.[13]

In October 2019, Reliance Industries (RI) announced the creation of a wholly-owned subsidiary for its digital businesses, including Jio. In November 2019, the subsidiary was named Jio Platforms. The ₹1.08 trillion (US$13 billion) liability of Jio was transferred to RIL, and in turn, RIL received preferential shares of Jio Platforms.[14][15] According to some observers, the restructuring was done to keep the digital businesses of the group within a debt-free entity.[16]

In April 2020, Facebook acquired a 9.99% stake in Jio Platforms for ₹435.74 billion (US$5.2 billion).[17] According to this deal, while Jio Platforms retained ₹149.76 billion (US$1.8 billion), the parent company got the remaining ₹285.98 billion (US$3.4 billion) for redeeming the optionally convertible preference shares it held in the subsidiary.[16]

In May 2020, private equity firm Silver Lake Investors obtained a 1.15% stake with a ₹56.5 billion (US$680 million) investment in the company.[18] However, unlike the previous transaction, Jio Platforms retained the entire investment in this case.[16] General Atlantic then announced that it would invest ₹65.988 billion (US$790 million) in Jio Platforms for a 1.34% stake in the company.[19] American private equity firm KKR acquired a 2.32% stake in Jio Platforms for ₹113.67 billion (US$1.4 billion).[20]

In June 2020, Emirati sovereign fund Mubadala confirmed that it would acquire a 1.85% stake in the company for ₹90.936 billion (US$1.1 billion).[21] Silver Lake increased its stake to 2.08% with an additional ₹45.47 billion (US$540 million) investment.[22] Abu Dhabi Investment Authority then bought a 1.16% stake in the company for ₹56.84 billion (US$680 million).[23] On 13 June, TPG took a stake in Jio Platforms of 0.93% worth ₹45.468 billion (US$540 million).[24] L Catterton also invested ₹18.945 billion (US$230 million) for a 0.39% stake.[25]

In June 2020, Saudi Arabia's Public Investment Fund confirmed that it would acquire a 2.32% stake in the company for ₹113.67 billion (US$1.4 billion).[26] In July 2020, Intel confirmed that it would acquire a 0.39% stake in the company for ₹18.95 billion (US$230 million).[27] In July 2020, Qualcomm confirmed that it would acquire a 0.15% stake in the company for ₹7.30 billion (US$87 million).[28] This was followed by Google's purchase of a 7.7% stake in the company for ₹337.37 billion (US$4.0 billion).[29]

In June 2021, Jio Platforms unveiled their Android smartphone named JioPhone Next, with plans to launch in India by September 2021.[30][31]

In February 2022, Jio Platforms formed a joint venture with satellite operator SES. The newly formed Jio Space Technology Limited will deliver broadband services in India of up to 100 Gbit/s capacity using SES's SES-12 high-throughput geostationary satellite and the O3b mPOWER medium Earth orbit satellite constellation to extend JPL's terrestrial network, enhancing access to digital services in unconnected areas within India and the region. JPL and SES will respectively own 51% and 49% equity stakes in the new company.[32]

In December 2023, Jio Studios decided to back out of producing upcoming Akshay Kumar movies Hera Pheri 3 and Welcome to the Jungle.[33]

In Reliance's 47th annual general meeting, chairman Mukesh Ambani unveiled the artificial intelligence platform, JIO Brain.[34]

Businesses

[edit]

Consumer platforms

[edit]
  • Jio, telecommunications and broadband services
  • JioMoney, digital currency and payments services[35]
  • JioMart, online grocery delivery services (partnership with Reliance Retail)[36]
  • JioSign, online digital signing platform[37][36]
  • Jio Apps
    • MyJio[38]
    • JioTV, live TV streaming app
    • JioSaavn, an online music streaming service[39]
    • JioChat, messaging app[40]
    • JioMeet, video-conferencing platform[41]
    • JioGamesCloud, Jio's cloud gaming service[42]
    • JioSphere, web browser[43]
    • JioSwitch, file sharing app[44]
    • JioNews, newspaper and magazine app[45]
    • JioHome, mobile remote control for Jio set-top box[46]
    • JioGate, apartment security app[47]
    • JioCloud, cloud storage services[48]
    • JioSecurity, security app[49]
    • JioHealthHub, health companion[50]
    • JioPOS Lite, Jio recharge commission earning app[51]
    • JioGameslite, online gaming[52]
    • JioSafe, encrypted voice and video calling app[53][54]
    • JioGauSamriddhi, IoT enabled smart cattle and dairy management [55][56]
    • JioKrishi, Agri IoT solutions [57]
    • JioNews, news aggregator[58]

Enterprise platforms

[edit]

Acquisitions and investments

[edit]

RIL has acquired or invested in several companies, which are now under Jio Platforms:[62]

Name Type Amount Stake Ref
Haptik AI-based conversational platform $100 million 87% [63]
Embibe AI-based educational platform $180 million 72.69% [64]
Radisys Telecommunication technology $75 million 100% [65]
Fynd[66] Internet marketplace platforms, E-commerce $15 million 87% [66]
EasyGov[67] Citizen convenience services $10 million 83% [67]
SankhyaSutra Labs Simulation services 83% [68]
C-Square Pharmaceutical technology platform 82% [69][70]
KareXpert Digital healthcare platform ₹10crore [71]
Videonetics Video surveillance technology [72]
Covacsis Technologies IOT [73]
NEWJ[74] Media ₹5crore [75]
Two Platforms Artificial reality 25% [76]

See also

[edit]

References

[edit]
  1. ^ "Jio Glass faces an uphill ride as virtual/mixed realty products remain niche". Archived from the original on 20 September 2022. Retrieved 18 June 2020.
  2. ^ a b c d "AR_2022-2023". Reliance Industries Limited. Archived from the original on 30 May 2023. Retrieved 21 April 2023.
  3. ^ Kalyanaraman, Anand. "The financial engineering behind the Great Jio Fund-raise". Business Line. Archived from the original on 8 February 2021. Retrieved 31 January 2021.
  4. ^ "Google to invest Rs 33,737 crore for a 7.7 per cent stake in Jio Platforms". The Economic Times. Archived from the original on 17 January 2021. Retrieved 15 July 2020.
  5. ^ "Reliance slips 59 places on Fortune list, SBI jumps 16 notches". Archived from the original on 22 July 2024. Retrieved 2 August 2021.
  6. ^ "Jio opens Mobile Number Portability, urges incumbent telcos to fulfil regulatory obligations". India Today. 3 September 2016. Archived from the original on 3 September 2016. Retrieved 3 September 2016.
  7. ^ "JioSphere: The Ultimate Browser for India's Digital Age". June 2024. Archived from the original on 22 July 2024. Retrieved 20 June 2024.
  8. ^ "Reliance Jio Infocomm launches 4G services for its employees", The Economic Times, 27 December 2015, archived from the original on 30 December 2015, retrieved 29 December 2015
  9. ^ "RIL Q4 2020–21 Reports". Reliance industries. 22 January 2021. Archived from the original on 10 March 2022. Retrieved 30 January 2021.
  10. ^ "Google to invest Rs 33,737 crore for a 7.7 per cent stake in Jio Platforms". The Economic Times. Archived from the original on 17 January 2021. Retrieved 15 July 2020.
  11. ^ "Reliance Raises ₹ 1.65 Lakh Crore From Stake Sales At Retail, Digital Arms: Key Facts". NDTV Profit. 23 September 2020. Archived from the original on 2 December 2020. Retrieved 14 April 2021.
  12. ^ "Brand | Reliance Jio - the History and the Historic Launch". 17 November 2020. Archived from the original on 18 August 2023. Retrieved 18 August 2023.
  13. ^ "Reliance Jio picks up stake in 4G network vendor Airspan". 12 September 2014. Archived from the original on 18 August 2023. Retrieved 18 August 2023.
  14. ^ "RIL to create ₹1.08-lakh-cr digital giant". The Hindu Business Line. Archived from the original on 27 November 2020. Retrieved 8 May 2020.
  15. ^ "RIL's new digital unit christened Jio Platforms Ltd". The Hindu Business Line. Archived from the original on 3 February 2021. Retrieved 8 May 2020.
  16. ^ a b c "RIL Raises Nearly Rs 50,000 Crore From Jio Platforms Deals With Facebook, Silver Lake". BloombergQuint. 4 May 2020. Archived from the original on 24 October 2020. Retrieved 8 May 2020.
  17. ^ "Facebook to buy 9.99% stake in Reliance Jio platforms for $5.7 billion". Hindustan Times. Archived from the original on 6 July 2020. Retrieved 8 May 2020.
  18. ^ "Private equity firm Silver Lake to invest Rs 5,655.75 crore in Reliance Jio Platforms". Economic Times. Archived from the original on 10 May 2020. Retrieved 8 May 2020.
  19. ^ "General Atlantic to invest Rs 6,598.38 crore in Jio Platforms". The Economic Times. 18 May 2020. Archived from the original on 30 July 2020. Retrieved 27 May 2020.
  20. ^ Tripathi, Dhirendra (22 May 2020). "KKR to buy 2.32% Jio Platforms stake for ₹11,367 crore". Livemint. Archived from the original on 5 June 2020. Retrieved 27 May 2020.
  21. ^ "Mubadala to buy 1.85% stake in Jio Platforms for ₹9093.6 crore". The Hindu. Archived from the original on 15 December 2020. Retrieved 4 June 2020.
  22. ^ "Second mega Jio deal in a day: Silver Lake to invest additional ₹4,547 crore". Livemint. Archived from the original on 17 December 2020. Retrieved 7 June 2020.
  23. ^ "Jio Platforms Sells Rs 5,684-Crore Stake To Abu Dhabi Investment Authority". Bloomberg Quint. Archived from the original on 26 October 2020. Retrieved 7 June 2020.
  24. ^ "TPG to invest Rs 4547 cr in Jio Platforms for 0.9% stake; ninth deal by Jio in less than 2 months". CNBC TV18. Archived from the original on 28 August 2020. Retrieved 17 July 2020.
  25. ^ "Jio-L Catterton deal: After TPG, L Catterton becomes 10th investor in Jio Platforms in historic fundraising by RIL unit". Money Control. Archived from the original on 1 December 2020. Retrieved 17 July 2020.
  26. ^ "Saudi Arabia's Public Investment Fund to buy 2.32% stake in Jio Platforms for ₹11367 crore". Money Control. Archived from the original on 4 September 2020. Retrieved 18 June 2020.
  27. ^ "Intel-Jio deal: US semiconductor giant to invest Rs 1,894.5 crore in RIL unit". Money Control. Archived from the original on 4 December 2020. Retrieved 17 July 2020.
  28. ^ "RIL hits record high as Qualcomm invests Rs 730 crore in Jio Platforms; m-cap crosses Rs 12 lakh crore". MoneyControl. Archived from the original on 2 December 2020. Retrieved 15 July 2020.
  29. ^ "Google to Invest Rs 33,737 Crore in Jio Platforms for 7.7% Stake, Mukesh Ambani Announces at RIL AGM". News18. Archived from the original on 18 November 2020. Retrieved 15 July 2020.
  30. ^ "Google and India's Jio Platforms announce JioPhone Next". TechCrunch. 24 June 2021. Retrieved 24 June 2021.
  31. ^ "Jio AI Cloud: Empowering India's Digital Future". manjeet.info. 10 September 2024. Retrieved 10 September 2024.
  32. ^ Jio and SES forge joint venture for satellite-based broadband services across India Archived 17 May 2022 at the Wayback Machine Computer Weekly. 14 February 2022. Accessed 30 April 2022
  33. ^ "Jio Studios Withdraws Support from". BruTimes. Archived from the original on 25 December 2023. Retrieved 25 December 2023.
  34. ^ "Mukesh Ambani unveils AI brainchild 'Jio Brain' at Reliance AGM; know all about it". The Economic Times. 29 August 2024. ISSN 0013-0389. Retrieved 6 September 2024.
  35. ^ "Jio Platforms Primed to Play Pivotal Role in Indian Tech Space with Recent Investments". News18. 18 May 2020. Archived from the original on 29 May 2020. Retrieved 27 May 2020.
  36. ^ a b "JioMart app makes debut on Google Play Store for Android users". The Times of India. 18 July 2020. Archived from the original on 18 July 2020. Retrieved 18 July 2020.
  37. ^ Jiosign Archived 17 February 2023 at the Wayback Machine; retrieved on 20 January 2023
  38. ^ "MyJio App - Manage Jio Account & Services Online". Jio.com. 16 July 2020. Archived from the original on 26 January 2021. Retrieved 16 July 2020.
  39. ^ "JioSaavn releases multi-platform experience with living search, elevated podcasts, and video experience". Radio And Music. 16 July 2020. Archived from the original on 4 August 2020. Retrieved 16 July 2020.
  40. ^ "JioChat messaging app now available on Android, iOS: Here's how to download and use it". India Tv News. 16 July 2020. Archived from the original on 2 January 2021. Retrieved 16 July 2020.
  41. ^ "Jio to launch video conferencing platform JioMeet to take on Google Meet, Zoom". Livemint. 1 May 2020. Archived from the original on 2 August 2020. Retrieved 19 June 2020.
  42. ^ "JioGamesCloud Now Available in Beta Phase: Jio's Cloud Gaming Service". JustDailyDose. 23 December 2022. Archived from the original on 25 December 2022. Retrieved 23 December 2022.
  43. ^ "Jio Browser Launched for Android, Features Support for 8 Indian Languages". Gadgets360. 16 July 2020. Archived from the original on 25 November 2020. Retrieved 16 July 2020.
  44. ^ "Jio के इस ऐप से चुटकियों में ट्रांसफर करें फोटो और वीडियो, जानें कैसे करता है काम". News18 Hindi. 16 July 2020. Archived from the original on 16 July 2020. Retrieved 16 July 2020.
  45. ^ "Reliance Jio launches JioNews, a one-stop platform for newspapers, magazines". Hindustan Times. 1 May 2020. Archived from the original on 1 September 2020. Retrieved 16 July 2020.
  46. ^ "Download Jio Home Mobile App for your home remote control". Youth Apps. 16 July 2020. Archived from the original on 22 July 2020. Retrieved 16 July 2020.
  47. ^ "Jio to Launch Apartment Security Service Called Jio Gate, Official Apps Listed Online". Gadgets360. 16 July 2020. Archived from the original on 20 September 2020. Retrieved 16 July 2020.
  48. ^ "What is Reliance Jio Cloud Storage in Hindi". Techno2hindi. 16 July 2020. Archived from the original on 26 November 2020. Retrieved 16 July 2020.
  49. ^ "Know about JioSecurity, how to install it on Android device". India Today. 16 July 2020. Archived from the original on 16 July 2020. Retrieved 16 July 2020.
  50. ^ "Reliance Jio launches new medical and fitness app 'JioHealthHub' for the health conscious". India Today. 16 July 2020. Archived from the original on 18 July 2020. Retrieved 16 July 2020.
  51. ^ "Reliance Jio launches JioPOS Lite app that lets you earn commission on every recharge". Firstpost. 15 July 2020. Archived from the original on 12 August 2020. Retrieved 15 July 2020.
  52. ^ "Jio Games features announced at Reliance AGM 2019". BGR. 15 July 2020. Archived from the original on 11 November 2020. Retrieved 15 July 2020.
  53. ^ "JioSafe App Launched In India For Android And iOS Devices: What Is It, How It Works". Times Now. 18 July 2024. Archived from the original on 22 July 2024. Retrieved 18 July 2024.
  54. ^ "What is JioSafe, how is this 5G-only app different from WhatsApp and Signal?". The Indian Express. 17 July 2024. Archived from the original on 18 July 2024. Retrieved 18 July 2024.
  55. ^ Lohchab, Himanshi (8 April 2024). "How Reliance Jio's 5G IoT solutions transforming farming practices in India". The Economic Times. ISSN 0013-0389. Retrieved 14 August 2024.
  56. ^ Bharatnet (10 April 2024). "JioKrishi and JioGauSamriddhi Transforming Farming Practices in India". Bharatnet. Retrieved 14 August 2024.
  57. ^ Bureau, Delhi (15 September 2021). "JioKrishi platform to help Indian farmers take better decision". Krishak Jagat. Retrieved 14 August 2024. {{cite web}}: |last= has generic name (help)
  58. ^ "JioNews mobile app launched for Android and iOS users". www.timesnownews.com. 11 April 2019. Retrieved 24 August 2024.
  59. ^ "Reliance Industries launches unlimited free conferencing app JioMeet as competition to Zoom". The Economic Times. Archived from the original on 28 December 2022. Retrieved 19 November 2022.
  60. ^ "Jio launches special JioFiber Business plans for traders and companies, here are all pricing details". India Today. 9 March 2021. Archived from the original on 10 March 2021. Retrieved 10 March 2021.
  61. ^ "Reliance Jio rides high on GST, comes out with JioGST starter kit". The Economic Times. Archived from the original on 28 December 2022. Retrieved 10 March 2021.
  62. ^ "Valuation of Jio's digital business expected to improve, say analysts". Business Standard. Archived from the original on 26 April 2020. Retrieved 8 May 2020.
  63. ^ "Reliance Jio arm acquires 87% in AI chatbot firm Haptik Infotech". Livemint. Archived from the original on 30 December 2020. Retrieved 3 April 2019.
  64. ^ "RIL completes acquisition of 73% stake in AI firm Embibe". The Economic Times. Archived from the original on 17 November 2022. Retrieved 17 November 2022.
  65. ^ "RELIANCE INDUSTRIES TO ACQUIRE RADISYS". Radisys. Archived from the original on 24 November 2020. Retrieved 16 July 2020.
  66. ^ a b "Reliance Industries acquires Google-backed firm Fynd - Times of India". The Times of India. TNN. 5 August 2019. Archived from the original on 17 November 2022. Retrieved 17 November 2022.
  67. ^ a b "RIL to acquire Easygov through subsidiary Reliance Industrial Investments & Holdings". 23 February 2019. Archived from the original on 17 November 2022. Retrieved 17 November 2022.
  68. ^ "To boost e-comm play at bottom, RIL acquires Reverie, EasyGov and Sankhya Sutra Labs". Entrackr. Archived from the original on 19 February 2021. Retrieved 4 March 2019.
  69. ^ "Mukesh Ambani on shopping binge; Reliance buys into 23 firms in 3 years". www.businesstoday.in. 28 August 2020. Archived from the original on 6 March 2021. Retrieved 10 March 2021.
  70. ^ Pathak, Kalpana (20 August 2020). "Netmeds deal expands Reliance's healthcare portfolio". mint. Archived from the original on 26 March 2021. Retrieved 10 March 2021.
  71. ^ Pathak, Kalpana (23 May 2018). "Reliance Industries unit invests Rs10 crore in KareXpert Technologies". mint. Archived from the original on 1 March 2021. Retrieved 10 March 2021.
  72. ^ Chanchani, Madhav. "Reliance's GenNext ventures backs surveillance solution company Videonetics". The Economic Times. Archived from the original on 20 April 2021. Retrieved 10 March 2021.
  73. ^ Chanchani, Madhav. "Covacsis gets funds from Reliance Industries, Cisco venture capital arms". The Economic Times. Archived from the original on 28 April 2022. Retrieved 10 March 2021.
  74. ^ "RIL arms acquires substantial stake in media startup NEWJ". The Economic Times. Archived from the original on 17 November 2022. Retrieved 17 November 2022.
  75. ^ Upadhyay, Harsh (7 September 2019). "Reliance invests Rs 5 Cr in text-based video media startup NEWJ". Entrackr. Archived from the original on 25 June 2022. Retrieved 10 March 2021.
  76. ^ Yessar Rosendar, Harsh (7 September 2019). "Reliance's Jio Platforms Invests In Deep Tech Startup Two Platforms, Betting On The Metaverse". Forbes. Archived from the original on 22 September 2022. Retrieved 4 February 2022.

Further reading

[edit]
[edit]
Retrieved from "https://en.wikipedia.org/w/index.php?title=Jio_Platforms&oldid=1256530018"