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Facebook Purchases Majority Stake in Indian Internet Provider Jio for $5.7 Billion

Published

4 years ago

April 22, 2020

facebook purchases majority stake in indian internet provider jio for 5 7 billion

If you wanted to know how much value Facebook sees in the emerging Indian market, this deal certainly provides some indication.

After recent reports that Facebook was looking to acquire a stake in Indian internet provider Jio, The Social Network has now confirmed that it has purchased a majority stake in the Reliance-owned venture for a massive $US5.7 billion.

As explained by Facebook:

“Today we are announcing a $5.7 billion, or INR 43,574 crore, investment in Jio Platforms Limited, part of Reliance Industries Limited, making Facebook its largest minority shareholder. The investment underscores our commitment to India, and our excitement for the dramatic transformation that Jio has spurred in the country.”

Launched just three years ago, Jio has quickly become one of the top internet providers in India, with some 388 million customers in the region. Facebook’s involvement will provide Jio with a whole range of new resources, while the acquisition will provide Facebook with a new way into the Indian market, which it’s been looking to gain a foothold in for many years, with varying levels of success.

Most notable for Facebook will be connection to WhatsApp, the most used messaging app in the nation.

As Facebook notes:

“Over the years, Facebook has invested in India to connect people and help businesses launch and grow. WhatsApp is so ingrained in Indian life that it has become a commonly used verb across many Indian languages and dialects. Facebook brings together friends and families, but moreover, it’s one of the country’s biggest enablers of growth for small businesses. And Instagram has grown dramatically in India in recent years as the place where people follow their interests and passions.”

Facebook will be hoping to use its newfound presence in the local market to fuel more business activity via WhatsApp, and Facebook, which will incorporate broader expansion of Indian eCommerce platforms like Meesho, which Facebook also acquired last year.

India, and its 1.4 billion citizens, is the next key battleground for the tech giants, with both Facebook and Google both working to gain a foothold in the Indian market in order to expand their audience base, provide new business tools, and build revenue-generating partnerships that will facilitate significant opportunities to expand their respective empires.

The developing region is on the cusp of hitting the next stage in tech adoption. India is now the world’s second-largest smartphone market after China, while the number of internet users in the nation is expected to top 850 million by 2022. For comparison, the US is expected to reach around 300 million internet users at the same stage.

Given this, the tech company that can best position itself in the Indian market stands to win out big time as Indian users adapt to how they live and work incorporating online means.

Facebook’s deal for Jio is a massive win in this respect, and while past efforts like its Free Basics program haven’t been welcomed by Indian regulators, it would appear that Facebook has found a new opportunity, which will be a key element in the platform’s growth strategy moving forward.

That will also, eventually, facilitate new opportunities for businesses looking to connect with the Indian market, as Facebook moves to provide more business tools.

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

Published

1 month ago

March 18, 2024

Max

Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

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Catering to specific audience boosts your business, says accountant turned coach

Published

2 months ago

February 26, 2024

Entireweb News Bot

Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.”Â

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

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Instagram Tests Live-Stream Games to Enhance Engagement

Published

2 months ago

February 26, 2024

Entireweb News Bot

Instagram Tests Live-Stream Games to Enhance Engagement

Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.

As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.

That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.

Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.

That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.

Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.

Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.

We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.