Jio Platforms

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Jio Platforms, is an Indian conglomerate company and a subsidiary of Reliance Industries, headquartered in Mumbai, India. Established in 2019, Jio Platforms acts as a holding company for India's largest mobile network operator Jio and other digital businesses of Reliance.[1]

In May 2020, Jio Platforms was reported to be the fourth largest Indian company by market capitalization.[2] Since April 2020, Reliance Industries has raised Template:INRConvert by selling 32.97% equity stake in Jio Platforms.[3]

History

In October 2019, Reliance Industries Limited (RIL) announced the creation of a wholly owned subsidiary for its digital businesses including Jio. In November 2019, the subsidiary was named Jio Platforms. The Template:INRConvert liability of Jio was transferred to RIL and in turn RIL received preferential shares of Jio Platforms.[4][5] According to some observers, the restructuring was done to keep the digital businesses of the group within a debt-free entity.[6]

In April 2020, Facebook acquired a 9.99% stake in Jio Platforms for Template:INRconvert.[7] According to this deal, while Jio Platforms retained Template:INRConvert, the parent company got the remaining Template:INRConvert for redeeming the optionally convertible preference shares it held in the subsidiary.[6]

In May 2020, private equity firm Silver Lake Partners obtained a 1.15% stake with a Template:INRconvert investment in the company.[8] But unlike the previous transaction, the entire investment in this case was retained by Jio Platforms.[6] General Atlantic then announced that it would invest Template:INRconvert in Jio Platforms for a 1.34% stake in the company.[9] American PE firm KKR acquired a 2.32% stake in Jio Platforms for Template:INRconvert.[10]

In June 2020, Emirati sovereign fund Mubadala confirmed that it would acquire a 1.85% stake in the company for Template:INRconvert.[11] Silver Lake increased its stake to 2.08% with an additional Template:INRconvert investment.[12] Abu Dhabi Investment Authority then bought a 1.16% stake in the company for Template:INRconvert.[13] On 13 June, TPG Capital, an investment company, took stake in Jio platform of 0.93% worth Template:INRConvert.[14]

Catterton also made an investment of Template:INRConvert for a 0.39% stake.[15]

In June 2020, Saudi Arabia's sovereign fund PIF confirmed that it would acquire a 2.32% stake in the company for Template:INRconvert.[16] In July 2020, Intel confirmed that it would acquire a 0.39% stake in the company for Template:INRconvert.[17]

In July 2020, Qualcomm confirmed that it would acquire a 0.15% stake in the company for Template:INRconvert.[18]

This was followed by Google purchase of 7.7% stake in the company for Template:INRconvert.[19]

In June 2021, Jio Platform unveiled their Android smartphone named JioPhone Nex, with plans to launch in India by September 2021.[20]

Ownership

Company Equity Stake Company Owner Investor Portfolio
Reliance Industries 67.03% Mukesh Ambani Promoter
Jaadhu Holdings LLC[21] 9.99% Facebook, Inc. Strategic Investor
Google LLC 7.73% Alphabet, Inc. Strategic Investor
KKR & Co. Inc. 2.32% - Private Equity Firm
Vista Equity Partners[22] 2.32% - Private Equity Firm
Public Investment Fund of Saudi Arabia 2.32% Govt. of Saudi Arabia Sovereign Wealth Fund
SLP Redwood Co-Invest (DE), L.P. 2.08% Silver Lake[21] Private Equity Firm
SLP Redwood Holdings Pte. Ltd
Mubadala Investment Company PJSC 1.85% Govt. of UAE Sovereign Wealth Fund
General Atlantic Singapore[21] 1.34% General Atlantic Private Equity Firm
Abu Dhabi Investment Authority 1.16% Govt. of Abu Dhabi Sovereign Wealth Fund
TPG Capital 0.93% - Private Equity Firm
Intel Capital 0.39% Intel Corporation Strategic Investor
Interstellar Platform Holdings Pte. Ltd.[21] 0.39% L Catterton Private Equity Firm
Qualcomm, Inc. 0.15% - Strategic Investor
Total 100%

Businesses

Consumer Platforms

  • Jio, telecommunications and broadband services
  • Jio Apps
    • MyJio[23]
    • JioTV, live TV streaming app, launched on 5 September 2016
    • JioCinema, video-on-demand app[24]
    • JioSaavn, an online music streaming service[25]
    • JioChat, messaging app[26]
    • JioMeet, video-conferencing platform[27]
    • JioStore, app store for Jio STB
    • JioPages, web browser[28]
    • JioSwitch, file sharing app[29]
    • JioNews, newspaper and magazine app[30]
    • JioHome, mobile remote control for Jio set-top box[31]
    • JioGate, apartment security app[32]
    • JioCloud, cloud storage services[33]
    • JioSecurity, security app[34]
    • JioHealthHub, health companion[35]
    • JioPOS Lite, Jio recharge commission earning app[36]
    • JioGameslite, online gaming[37]
  • JioMoney, digital currency and payments services[38]
  • JioMart, online grocery delivery services (partnership with Reliance Retail)[39]

Enterprise Platforms[40]

  • JioAttendance
  • JioMeet for Business
  • JioOnline - Online marketing tool
  • JioGST[41]

Acquisitions and investments

Template:Expand list RIL has acquired or invested in several companies, which are now under Jio Platforms:[42]

Name Type Amount Stake Ref
Haptik AI-based conversational platform US$100 million[43] 87%
Embibe AI-based educational platform US$180 million 72.69%
Radisys[44] Telecommunication technology US$75 million 100%
Reverie language technologies Ltd Vernacular chatbot & Speech Technologies US$35 million 83.3%
Grab-a-Grub Delivery services US$30 million 83%
Fynd Analytics US$15 million 87%
EasyGov Citizen convenience services US$10 million 83%
Asteria Aerospace Drone technology US$3.3 million 51.78%
Netradyne AI services 37.4%
Tesseract Mixed Reality IN₹10.12 crore 92.7%
SankhyaSutra Labs Simulation Services 83%[45]
Vitalic Health (Netmeds, Tresara, and Dadha Pharma) Online Pharmacy US$83.2 million 60% [46]
C-Square Pharmaceutical technology platform 82% [47][48]
KareXpert Digital Healthcare Platform for Hospitals IN₹10crore [49]
Videonetics Video surveillance technology [50]
Covacsis Technologies IOT [51]
NEWJ Media IN₹5crore [52]

Valuation

In May 2020, the enterprise value of Jio Platforms was estimated to be Template:INRconvert.[53] The company was also reported to be more valuable than all other businesses of RIL put together.[54] Its market capitalization put it fourth on the list of largest Indian companies, behind RIL (combined entity), Tata Consultancy Services and HDFC Bank.[2]

See also

References

  1. ↑ The financial engineering behind the Great Jio Fund-raise. Business Line. Retrieved 31 January 2021.
  2. ↑ 2.0 2.1 RIL gains 4% after Vista Equity's investment in Jio Platforms: Know more about the deal. CNBC TV18. Retrieved 8 May 2020.
  3. ↑ Google to invest Rs 33,737 crore for a 7.7 per cent stake in Jio Platforms - The Economic Times. The Economic Times. Retrieved 2020-07-15.
  4. ↑ RIL to create ₹1.08-lakh-cr digital giant. The Hindu Business Line. Retrieved 8 May 2020.
  5. ↑ RIL's new digital unit christened Jio Platforms Ltd. The Hindu Business Line. Retrieved 8 May 2020.
  6. ↑ 6.0 6.1 6.2 RIL Raises Nearly Rs 50,000 Crore From Jio Platforms Deals With Facebook, Silver Lake. BloombergQuint. Retrieved 2020-05-08.
  7. ↑ Facebook to buy 9.99% stake in Reliance Jio platforms for $5.7 billion. Hindustan Times. Retrieved 8 May 2020.
  8. ↑ Private equity firm Silver Lake to invest Rs 5,655.75 crore in Reliance Jio Platforms. Economic Times. Retrieved 8 May 2020.
  9. ↑ General Atlantic to invest Rs 6,598.38 crore in Jio Platforms. The Economic Times(18 May 2020). Retrieved 27 May 2020.
  10. ↑ KKR to buy 2.32% Jio Platforms stake for ₹11,367 crore. Livemint(22 May 2020). Retrieved 27 May 2020.
  11. ↑ Mubadala to buy 1.85% stake in Jio Platforms for ₹9093.6 crore. The Hindu. Retrieved 4 June 2020.
  12. ↑ Second mega Jio deal in a day: Silver Lake to invest additional ₹4,547 crore. Livemint. Retrieved 7 June 2020.
  13. ↑ Jio Platforms Sells Rs 5,684-Crore Stake To Abu Dhabi Investment Authority. Bloomberg Quint. Retrieved 7 June 2020.
  14. ↑ TPG to invest Rs 4547 cr in Jio Platforms for 0.9% stake; ninth deal by Jio in less than 2 months. CNBC TV18. Retrieved 17 July 2020.
  15. ↑ Jio-L Catterton deal: After TPG, L Catterton becomes 10th investor in Jio Platforms in historic fundraising by RIL unit. Money Control. Retrieved 17 July 2020.
  16. ↑ Saudi Arabia's Public Investment Fund to buy 2.32% stake in Jio Platforms for ₹11367 crore. Money Contol. Retrieved 18 June 2020.
  17. ↑ Intel-Jio deal: US semiconductor giant to invest Rs 1,894.5 crore in RIL unit. Money Contol. Retrieved 17 July 2020.
  18. ↑ RIL hits record high as Qualcomm invests Rs 730 crore in Jio Platforms; m-cap crosses Rs 12 lakh crore. Retrieved 15 July 2020.
  19. ↑ Google to Invest Rs 33,737 Crore in Jio Platforms for 7.7% Stake, Mukesh Ambani Announces at RIL AGM. News18. Retrieved 15 July 2020.
  20. ↑ Google and India’s Jio Platforms announce JioPhone Next. TechCrunch. Retrieved 2021-06-24.
  21. ↑ 21.0 21.1 21.2 21.3 Jio Platforms receives ₹30,000 crore from four investors, Majumdar, Romita. mint(2020-07-11). Retrieved 2021-02-15.
  22. ↑ 10 deals in 53 days! Jio Platforms rakes in whopping Rs 1.04 lakh cr -- A timeline. www.businesstoday.in. Retrieved 2021-02-15.
  23. ↑ MyJio App - Manage Jio Account & Services Online. Jio.com(16 July 2020). Retrieved 16 July 2020.
  24. ↑ JioCinema app: How to use, features and everything related to know. India Today(16 July 2020). Retrieved 16 July 2020.
  25. ↑ JioSaavn releases multi-platform experience with living search, elevated podcasts, and video experience. Radio And Music(16 July 2020). Retrieved 16 July 2020.
  26. ↑ JioChat messaging app now available on Android, iOS: Here's how to download and use it. India Tv News(16 July 2020). Retrieved 16 July 2020.
  27. ↑ Jio to launch video conferencing platform JioMeet to take on Google Meet, Zoom. Livemint(1 May 2020). Retrieved 19 June 2020.
  28. ↑ Jio Browser Launched for Android, Features Support for 8 Indian Languages. Gadgets360(16 July 2020). Retrieved 16 July 2020.
  29. ↑ Jio के इस ऐप से चुटकियों में ट्रांसफर करें फोटो और वीडियो, जानें कैसे करता है काम. News18 Hindi(16 July 2020). Retrieved 16 July 2020.
  30. ↑ Reliance Jio launches JioNews, a one-stop platform for newspapers, magazines. Hindustan Times(1 May 2020). Retrieved 16 July 2020.
  31. ↑ Download Jio Home Mobile App for your home remote control. Youth Apps(16 July 2020). Retrieved 16 July 2020.
  32. ↑ Jio to Launch Apartment Security Service Called Jio Gate, Official Apps Listed Online. Gadgets360(16 July 2020). Retrieved 16 July 2020.
  33. ↑ What is Reliance Jio Cloud Storage in Hindi. Techno2hindi(16 July 2020). Retrieved 16 July 2020.
  34. ↑ Know about JioSecurity, how to install it on Android device. India Today(16 July 2020). Retrieved 16 July 2020.
  35. ↑ Reliance Jio launches new medical and fitness app 'JioHealthHub' for the health conscious. India Today(16 July 2020). Retrieved 16 July 2020.
  36. ↑ Reliance Jio launches JioPOS Lite app that lets you earn commission on every recharge. Firstpost(15 July 2020). Retrieved 15 July 2020.
  37. ↑ Jio Games features announced at Reliance AGM 2019. BGR(15 July 2020). Retrieved 15 July 2020.
  38. ↑ Jio Platforms Primed to Play Pivotal Role in Indian Tech Space with Recent Investments. News18(18 May 2020). Retrieved 27 May 2020.
  39. ↑ JioMart app makes debut on Google Play Store for Android users. The Times of India(18 July 2020). Retrieved 18 July 2020.
  40. ↑ Jio launches special JioFiber Business plans for traders and companies, here are all pricing details. India Today. Retrieved 2021-03-10.
  41. ↑ Reliance Jio rides high on GST, comes out with JioGST starter kit. The Economic Times. Retrieved 2021-03-10.
  42. ↑ Valuation of Jio's digital business expected to improve, say analysts. Business Standard. Retrieved 8 May 2020.
  43. ↑ Reliance Jio arm acquires 87% in AI chatbot firm Haptik Infotech. Livemint. Retrieved 3 April 2019.
  44. ↑ RELIANCE INDUSTRIES TO ACQUIRE RADISYS. Radisys. Retrieved 16 July 2020.
  45. ↑ To boost e-comm play at bottom, RIL acquires Reverie, EasyGov and Sankhya Sutra Labs. Entrackr. Retrieved 4 March 2019.
  46. ↑ India's Reliance Retail acquires a majority stake in online pharmacy Nedmeds' parent firm for $83.2M. TechCrunch. Retrieved 2021-03-10.
  47. ↑ Mukesh Ambani on shopping binge; Reliance buys into 23 firms in 3 years. www.businesstoday.in. Retrieved 2021-03-10.
  48. ↑ Netmeds deal expands Reliance's healthcare portfolio, Pathak, Kalpana. mint(2020-08-20). Retrieved 2021-03-10.
  49. ↑ Reliance Industries unit invests Rs10 crore in KareXpert Technologies, Pathak, Kalpana. mint(2018-05-23). Retrieved 2021-03-10.
  50. ↑ Reliance's GenNext ventures backs surveillance solution company Videonetics. The Economic Times. Retrieved 2021-03-10.
  51. ↑ Covacsis gets funds from Reliance Industries, Cisco venture capital arms. The Economic Times. Retrieved 2021-03-10.
  52. ↑ Reliance invests Rs 5 Cr in text-based video media startup NEWJ, Upadhyay, Harsh. Entrackr(2019-09-07). Retrieved 2021-03-10.
  53. ↑ What makes Jio Platforms command a ₹5 trillion valuation. Livemint. Retrieved 8 May 2020.
  54. ↑ Jio Platforms now more valuable than rest of RIL businesses put together. Business Standard. Retrieved 8 May 2020.

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