India’s richest man built a telecom operator everyone wants a piece of
Reliance Jio Platforms has secured $ 10.3 billion from Facebook and others in the past few weeks.
As the appetite of investors In the middle of a pandemic, a three and a half-year-old Indian company received $ 10.3 billion from Facebook and four US-based private equity firms in one month.
The big deals for Reliance Jo Platforms have sparked sudden interest among analysts, executives, and readers as many are skeptical of similar-sized check sizes that some investors have written to several young startups, many of whom are struggling to understand their finances today.
Reliance Jio Platforms has secured $ 10.3 billion
Prominent investors around the world, including India, have warned startups in recent weeks that they should be prepared for the “worst time” as new checks become elusive.
Elsewhere in India, the second-largest internet market in the world, and were all startups have reached a record $ 14.5 billion last year, companies are experiencing downturns (which are lowering their ratings). Miten Sampat, an angel investor, said this week that startups should expect a 40% to 50% discount on their ratings if they get an investment offer.
Facebook valued the company’s $ 5.7 billion investment at $ 57 billion. US private equity firms Silver Lake, Vista, General Atlantic, and KKR – all other deals announced in the last five weeks – are paying a 12.5% premium of $ 65 billion for their stake in Jio Platforms Dollar.
How did an Indian company become so valuable? What exactly does it do? Is it just as unprofitable as Uber? What’s the future like? Why is it collecting so much money? And why does it make so many announcements instead of one.
That is a long story.
Run to the start of Jio
Billionaire Mukesh Ambani gave an overview of his gigantic Indian empire at a meeting in December 2015 with 35,000 people, including hundreds of Bollywood celebrities and industrial titans.
“Reliance Industries has the second-largest polyester business in the world. We produce one and a half million tons of polyester for fabrics every year, which is enough to give every Indian 5 meters of fabric every year, ”said Ambani, the richest man in Asia.