About: http://data.cimple.eu/news-article/122f0c02453e8cf6c42e13a9fbfa6b9669e2916b4dd318bcae588fde

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About: http://data.cimple.eu/news-article/122f0c02453e8cf6c42e13a9fbfa6b9669e2916b4dd318bcae588fde Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Facebook has taken a $5.7-billion stake in the Jio digital platforms business of India's richest man Mukesh Ambani, the two sides said Wednesday, marking one of the biggest foreign investments in the country. The deal will give the US social media giant a 10-percent stake in Jio Platforms, part of Ambani's Reliance Industries empire. Announcing the deal, Facebook said it wanted to link up the "power of WhatsApp", its messaging subsidiary, with Jio, which is taking a fast-growing share of the online sector to increase digital business. India is Facebook's biggest single market with some 400 million users. "India is in the midst of one of the most dynamic social and economic transformations the world has ever seen, driven by the rapid adoption of digital technologies," said a Facebook statement. In four years, Ambani has turned his Jio telecoms unit into the country's biggest mobile operator with 388 million subscribers. It has knocked aside competitors with aggressive low pricing. Jio Platforms provides internet and e-commerce services that tap into the huge subscriber base. Reliance said it wanted to boost income for farmers, micro-traders and other small businesses that are the cornerstone of the economy of 1.3 billion people. bb-tw/jah
schema:headline	Facebook takes $5.7-bn stake in India digital platforms
schema:mentions	Mobile network operator Digital media E-commerce European Single Market Mukesh Ambani Jio WhatsApp Social media India Facebook Reliance Industries Limited Mark Roebuck
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-22 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	67 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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