What Are Reliance Jio Platforms And What Makes Them Famous?

Jio Platforms and Byju's have appeared under the list of the 100 most influential companies of Time Magazine. The companies come under the innovators' list, which is leading digital transformation in the country. Other companies that have managed to get into that list Nintendo, Lego Group, Spotify, Netflix, Zoom, Adidas, TikTok, and more.

The list said that Reliance Jio is providing the cheapest data rates in the entire world and has the largest 4G network or services in the country. Notably, Jio is offering its services to 410 million users and plans to capture 50 percent of the telecom market as soon as possible.

What Are Jio Platforms?

Jio Platforms is a technology firm of Reliance Industries. In 2019, RIL announced Jio Platforms, which is the digital business of the company. The Jio platform comes into the limelight when Reliance Jio starts selling its stake (Jio Platform) to global companies. The company has managed to sell its stake to 13 companies and become debt-free before the actual time given to the investors.

Jio Platforms includes all consumers and enterprise platforms. These platforms are JioNews, JioHome, JioPages, JioTV, JioGate, JioSecurity, JioSwitch, JioMeet, JioCloud, JioHealthHub, JioPOSLite, JioGameslite, JioMoney, JioMart, JioSaavn, JioAttendance, JioMeet, which is designed for business, JioOnline, and JioGST.

List Of Companies Who Bought Stake In Jio Platforms

It is worth noting that Facebook was the first global company that invested in Jio Platforms. The company bought a 9.99 percent stake in the firm for Rs. 43,574 crores. The other companies on the list are Silver Lake, L Catterton, Vista, General Atlantic, KKR, Mubadala, Abu Dhabi Investment Authority, TPG. These companies have invested Rs. 5,655.75 crores, Rs. 11,367 crores, Rs. 6,598.38 crores, Rs. 11,367, Rs. 9,09360 crores, Rs. 4,546.80 crores, Rs. 5,683.50 crores, Rs. 4,546.80 crores, and Rs. 1,894.50 crores respectively.

After selling stakes in Jio Platforms, Reliance Industries wants these global companies to purchase a stake in Reliance Retail. In fact, the company has managed to sell its 10 percent stake worth Rs. 47,265 crores. Reliance Retail sold its stake to global firms like General Atlantic, KKR, GIC, TPG, Mubadala, ADIA, Silver Lake Partners, and PIF.