Jio and Facebook have come together in one of the biggest tie-ups between two-firms. As you must be aware by now, Facebook will invest a whopping 43,524 crores in RIL’s Jio Platforms in a bid to further expand in India.
The deal will also power Reliance Retail’s e-commerce venture JioMart. The venture is direct competition to firms like Walmart-owned-Flipkart and Amazon. As of now, JioMart is active in some cities in Maharastra on a trial basis.
But now with Facebook joining in, the JioMart is set to expand gradually across India.
As a result of the new partnership between Jio and WhatsApp, people will be able to access their “nearest kiranas who can provide products and services to their homes by transacting seamlessly with JioMart using WhatsApp,” Jio said.
For the same, new features like WhatsApp Business App, WhatsApp pay will be introduced for sellers and customers respectively to help small businesses and customers connect seamlessly. This will help WhatsApp find a medium to earn money in India.
“India has more than 60 million small businesses and millions of people rely on them for jobs,” writes Facebook CEO Mark Zuckerberg in a post on the social media site. “With communities around the world in lockdown, many of these entrepreneurs need digital tools they can rely on to find and communicate with customers and grow their businesses. This is something we can help with — and that’s why we’re partnering with Jio to help people and businesses in India create new opportunities.”
Facebook in a deal has bought 9.99% stakes in Reliance Jio platforms.