Reliance Jio seems to be on a spree of raising funds as it has raised 4 rounds of investment within a month. The company began with Facebook, Silverlake and Vista Equity and now is ready to raise Rs 6598.38 crore from General Atlantic. This will provide General Atlantic a hold of 1.34% stakes in the company on diluted basis.
The latest addition has brought the total investment in the company to Rs 67,194.75. Facebook, Silver Lake Partners and Vista Equity firm acquired 9.9%, 1.15% and 2.32% respectively in the company. Mukesh Ambani, CEO of Reliance Industries stated that General Atlantic and Reliance share the common views of digitizing India.
One of the biggest reasons for Jio getting this attention from investors is the belief that the company will have an advantage over others in online and offline spaces. They recently also started taking online orders via WhatsApp and complete them through their chain of retailers on JioMart.
There are speculations that with the current developments, WhatsApp might be turned into a super app like WeChat but we have never seen Facebook doing something like this in past. This has definitely given the market to look forward to something huge.