Jio Platforms has a number of subsidiary brands, including its telecommunications business Reliance Jio, which began its commercial operation in the second half of 2016. Reliance Jio also owns a suite of services including music streaming service JioSaavn (which it plans to take public), smartphones, broadband business, on-demand live television service JioTV, and payments service JioPay.
The deal, which valued Jio at a pre-money valuation of USD 65.95 billion, makes Facebook the largest minority shareholder in the Indian telecom network. India is key for Facebook’s WhatsApp messaging service which has over 400 million users in the country.
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