Reliance Industries Ltd, Jio Platforms Ltd and Facebook Inc today announced the signing of binding agreements for an investment of Rs 43,574 crore by Facebook into Jio Platforms. Who gets the money? What about valuation? Answers here
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What is Jio Platforms Ltd?
Jio Platforms Ltd, a wholly owned subsidiary of Reliance Industries (RIL), comprises the group’s ventures into digital businesses—including apps, cloud services, artificial intelligence and so on, as well as Reliance Jio Infocomm Ltd.