Jio Platforms is an Indian multinational

technology company A technology company (or tech company) is an electronics-based technological company, including, for example, business relating to digital electronics, software, and internet-related services, such as e-commerce services. Details According to '' ...

, headquartered in

Mumbai Mumbai (, ; also known as Bombay — List of renamed Indian cities and states#Maharashtra, the official name until 1995) is the capital city of the Indian States and union territories of India, state of Maharashtra and the ''de facto'' fin ...

. It is a subsidiary of Reliance Industries. Established in 2019, it acts as a

holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

for India's largest mobile network operator

Jio Reliance Jio Infocomm Limited, doing business as Jio, is an Indian telecommunications company and a subsidiary of Jio Platforms, headquartered in Navi Mumbai, Maharashtra, India. It operates a national LTE network with coverage across all 2 ...

and other digital businesses of Reliance. Since April 2020, Reliance Industries has raised by selling 32.97% equity stake in the company. In August 2021, it was ranked 155th on the 2021 Fortune Global 500 list of world's biggest corporations.

History

In October 2019,

Reliance Industries Limited Reliance Industries Limited is an Indian multinational conglomerate company, headquartered in Mumbai. It has diverse businesses including energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Reliance is o ...

(RIL) announced the creation of a wholly owned subsidiary for its digital businesses including

. In November 2019, the subsidiary was named Jio Platforms. The liability of Jio was transferred to RIL and in turn RIL received preferential shares of Jio Platforms. According to some observers, the restructuring was done to keep the digital businesses of the group within a debt-free entity. In April 2020, Meta Platforms (then Facebook Inc.) acquired a 9.99% stake in Jio Platforms for . According to this deal, while Jio Platforms retained , the parent company got the remaining for redeeming the optionally convertible preference shares it held in the subsidiary. In May 2020, private equity firm Silver Lake Partners obtained a 1.15% stake with a investment in the company. But unlike the previous transaction, the entire investment in this case was retained by Jio Platforms.

General Atlantic General Atlantic (also known as "GA") is an American growth equity firm providing capital and strategic support for global growth companies, headquartered in New York, United States. The firm was founded in 1980 as the captive investment team for ...

then announced that it would invest in Jio Platforms for a 1.34% stake in the company. American PE firm KKR acquired a 2.32% stake in Jio Platforms for . In June 2020, Emirati sovereign fund

Mubadala Mubadala Investment Company PJSC ( ar, شركة مبادلة للاستثمار), or simply Mubadala, is an Emirati state-owned holding company that acts as a sovereign wealth fund. The company was established in 2017 when then-named Mubadala Dev ...

confirmed that it would acquire a 1.85% stake in the company for . Silver Lake increased its stake to 2.08% with an additional investment. Abu Dhabi Investment Authority then bought a 1.16% stake in the company for . On 13 June,

TPG Capital TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American investment company based in Fort Worth, Texas. The private equity firm is focused on leveraged buyouts and growth capital. TPG manages investment funds in growth c ...

, an investment company, took stake in Jio platform of 0.93% worth . Catterton also made an investment of for a 0.39% stake. In June 2020, Saudi Arabia's sovereign fund PIF confirmed that it would acquire a 2.32% stake in the company for . In July 2020,

Intel Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California. It is the world's largest semiconductor chip manufacturer by revenue, and is one of the developers of the x86 seri ...

confirmed that it would acquire a 0.39% stake in the company for . In July 2020, Qualcomm confirmed that it would acquire a 0.15% stake in the company for . This was followed by

Google Google LLC () is an American Multinational corporation, multinational technology company focusing on Search Engine, search engine technology, online advertising, cloud computing, software, computer software, quantum computing, e-commerce, ar ...

purchase of 7.7% stake in the company for . In June 2021, Jio Platforms unveiled their Android smartphone named JioPhone Next, with plans to launch in India by September 2021. In February 2022, Jio Platforms formed a joint venture with satellite operator

SES SES, S.E.S., Ses and similar variants can refere to: Business and economics * Socioeconomic status * Scottish Economic Society, a learned society in Scotland * SES, callsign of the TV station SES/RTS (Mount Gambier, South Australia) * SES S.A., ...

. The newly formed Jio Space Technology Limited will deliver broadband services in India of up to 100Gbps capacity using SES's SES-12 high-throughput geostationary satellite and the forthcoming

O3b mPOWER O3b mPOWER is a communications satellite system currently under construction and deployment. The first two satellites were launched on 16 December 2022 and commercial service is expected to begin in Q3 2023. Owned and operated by SES, O3b mPOWE ...

medium Earth orbit A medium Earth orbit (MEO) is an Earth-centered orbit with an altitude above a low Earth orbit (LEO) and below a high Earth orbit (HEO) – between above sea level.

satellite constellation A satellite constellation is a group of artificial satellites working together as a system. Unlike a single satellite, a constellation can provide permanent global or near-global coverage, such that at any time everywhere on Earth at least one s ...

, to extend JPL’s terrestrial network, enhancing access to digital services in unconnected areas within India and the region. JPL and SES will own 51% and 49% equity stake respectively in the new company.

Ownership

Businesses

Consumer platforms

, telecommunications and broadband services *Jio Apps **MyJio **JioTV, live TV streaming app **

JioCinema JioCinema is an Indian subscription video on-demand and over-the-top streaming service, owned by Viacom 18, a subsidiary of TV18. Launched on 5 September 2016, JioCinema's content library includes films, television shows, web series, music v ...

, video-on-demand app **

JioSaavn JioSaavn is an Indian online music streaming service and a digital distributor of Hindi, English, Malayalam, Bengali, Kannada, Tamil, Telugu, Bhojpuri and other regional Indian music around the world. Since it was founded in 2007 as Saa ...

, an online music streaming service **

JioChat Reliance Jio Infocomm Limited, doing business as Jio, is an Indian telecommunications company and a subsidiary of Jio Platforms, headquartered in Navi Mumbai, Maharashtra, India. It operates a national LTE network with coverage across all ...

, messaging app **

JioMeet Reliance Jio Infocomm Limited, doing business as Jio, is an Indian telecommunications company and a subsidiary of Jio Platforms, headquartered in Navi Mumbai, Maharashtra, India. It operates a national LTE network with coverage across all ...

, video-conferencing platform **JioStore, app store for Jio STB **JioGamesCloud, Jio's cloud gaming service **JioPages, web browser **JioPay, digital payments and financial services app **JioSwitch, file sharing app **JioNews, newspaper and magazine app **JioHome, mobile remote control for Jio set-top box **JioGate, apartment security app **JioCloud, cloud storage services **JioSecurity, security app **JioHealthHub, health companion **JioPOS Lite, Jio recharge commission earning app **JioGameslite, online gaming *JioMoney, digital currency and payments services *

JioMart JioMart is an Indian e-commerce company, headquartered in Navi Mumbai, Maharashtra, India, that started as a joint venture between Reliance Retail and Jio Platforms. The company initially focused on online groceries sales before expanding into ...

, online grocery delivery services (partnership with

Reliance Retail Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement ...

)
JioSign
online grocery delivery services (partnership with

)

Enterprise platforms

* JioAttendance * JioMeet for Business * JioOnline - Online marketing tool * JioGST

Acquisitions and investments

RIL has acquired or invested in several companies, which are now under Jio Platforms:

Valuation

In 2020, the

enterprise value Enterprise value (EV), total enterprise value (TEV), or firm value (FV) is an economic measure reflecting the market value of a business (i.e. as distinct from market price). It is a sum of claims by all claimants: creditors (secured and unsecured) ...

of Jio Platforms was estimated to be . The company was also reported to be more valuable than all other businesses of RIL put together. Its market capitalization put it fourth on the list of largest Indian companies, behind RIL (combined entity),

Tata Consultancy Services Tata Consultancy Services (TCS) is an Indian multinational information technology (IT) services and consulting company with its headquarters in Mumbai. It is a part of the Tata Group and operates in 150 locations across 46 countries. In July ...

and

HDFC Bank HDFC Bank Limited (also known as HDB) is an Indian banking and financial services company headquartered in Mumbai. It is India's largest private sector bank by assets and world's 10th largest bank by market capitalisation . It is the third lar ...

References

56.^https://www.business-standard.com/article/companies/mukesh-ambani-buys-38-5-in-extramarks-education-111110800130_1.html

External links

Jio Official Website
{{Reliance Industries Limited Reliance Industries subsidiaries Indian companies established in 2019 Jio 2019 establishments in Maharashtra Companies based in Mumbai Public Investment Fund