The deal makes Facebook the largest minority shareholder in Jio.
Indian Prime Minister Narendra Modi and Facebook CEO Mark Zuckerberg hug at Facebook headquarters in Menlo Park, California, in 2015.
Facebook said that the investment underscores the company’s commitment to India, where 560 million of 1.3 billion people are online. Facebook said that Jio, which started in 2016, has brought 388 million people online over the last four years. India is the most important market for large American tech companies as they seek to find new users beyond the United States and Europe. Over the last few years, both Facebook and Google have turned their focus to the country, localized their products, and ramped up investment. More than 300 million Indians use Facebook, and more than 400 million people in India — nearly everyone with a smartphone — use WhatsApp, Facebook’s instant message app.
Facebook will now be able to leverage these huge numbers. WhatsApp, for instance, has been working getting businesses to use the platform, while Facebook has created digital storefronts to help businesses sell goods and services online. Facebook announced that it would combine its efforts with Jio’s initiatives to build digital tools for small businesses
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