We know that, two weeks back Facebook picked up a 9.9 percent stake in Jio Platforms limited and now again, American private equity firm silver lake has stepped up to invest more Rs. 5,655.75 Crore for 1.15 percent stake.
Previously, Silver Lake has invested in several companies such as Twitter, Airbnb, Alibaba, Alphabet’s verily and waymo, Ant financial and Dell technologies.
Egon-Durban, Co-CEO and also the managing partner of Silver Lake has told that Jio Platforms is also one of the greatest companies led by a strong and entrepreneurial management team who are driving and actualizing a courageous vision.
“They [Jio Platforms] have brought extraordinary engineering capabilities to bear on bringing the power of low-cost digital services to a mass consumer and small business population.
The market potential they are addressing is enormous, and we are honored and pleased to have been invited to partner with Mukesh Ambani and the team at Reliance and Jio to help further the Jio mission.”, he said.
Mr. Mukesh Ambani, chairman and managing director of Reliance industries ltd, said that: “I am delighted to welcome Silver Lake as a valued partner in continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians. Silver Lake has an outstanding record of being a valuable partner for leading technology companies globally.
Silver Lake is one of the most respected voices in technology and finance. We are excited to leverage insights from their global technology relationships for the Indian Digital Society’s transformation.”
We hope that jio will come up with more services, which will be useful in the digital transformation of India.
What do you think of companies buying stake’s in this pandemic situation? Comment below and tell us.
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