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Facebook executives acquired a stake in Jio Platforms, India’s largest technology company, one of the main WhatsApp markets.
Facebook it continues to expand around the planet. This time he made a multi-million dollar investment in one of the largest technology companies in India. The executives of the renowned social network took part in Jio Platforms, with an investment of $ 5.7 billion. This sum of money makes them the largest minority partner of the multinational Reliance Industries, reported the portal The Verge.
Explains the aforementioned portal, which Jio Platforms It works with India’s broadband systems, mobile services and online commerce. But the main reason for Facebook’s participation in this market is WhatsApp. Figures indicate that approximately 400 million people in India have the messaging app. India is a country that exceeds 1,300,000 people.
The purpose of the social media giant is for WhatsApp to compete with WeChat. The latter is a very popular messaging app in China. “WhatsApp is so ingrained in Hindu life that it has to become a common verb in many Indian languages and dialects,” said the Facebook representative for this country, Ajit Mohan.
Mohan added that the collaboration aims to impact the digital economy of the Asian country. “We want to create new ways for people and businesses to operate more effectively. India is a growing digital economy,” he said. He also maintained that they want WhatsApp to operate as one of the channels for buying and selling products online. The latter is one of the functions of WeChat in China.
The advantage of taking advantage of WhatsApp services for business
The great scope of the popular messaging application is intended to be exploited in this new alliance. In principle, they would use the same app as a business channel. However the long-term goal is to create a new program that directly competes with WeChat. “Our efforts with Jio will be focused on opening new doors and boosting India’s economic growth,” they concluded.
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