Facebook and Jio Marriage Fix
Social Media Giant Facebook bets on India’s 4G Giant JIO
Who don’t know Facebook and Mark Zuckerberg? Well its now Social Media Giant who changed the picture of online connecting people globally. Though Facebook is also used for many purposes now viz dating, hobby, education, business, social work, politics etc.
On the other hand Mukesh Ambani, Asia’s richest business tycoon plays in sectors like Oil & Gases, Telecom etc. 4G connectivity at such affordable cost is Mukesh Ambani’s vision which came true and implemented successfully though.
Little Bit About Mark and Mukesh
Mark Elliot Zuckerberg is an American internet entrepreneur and philanthropist. He is known for co-founding Facebook, Inc. and serves as its chairman, chief executive officer, and controlling shareholder. He also co-founded and is a board member of the solar sail spacecraft development project Breakthrough Starshot.[Source: Wikipedia]
Mukesh Dhirubhai Ambani is an Indian billionaire business magnate, and the chairman, managing director, and largest shareholder of Reliance Industries Ltd. (RIL), a Fortune Global 500 company and India’s most valuable company by market value.As of April 2020, Mukesh Ambani is the richest man in Asia. [Source: Wikipedia]
What is deal all about?
A pack between WhatsApp (Facebook acquired messaging platform) and Reliance retail (Unit of Reliance Industries Limited) to boost the latter’s JioMart platform result in bet of $5.7Billion (INR 43,574 Crore). A heck of Investment making Mukesh Ambani gain Asia’s richest person title, which he loose to Alibaba founder Jack Ma few weeks back because of Oil price crisis due to Corona Virus (Covid-19) outbreak.
This pack will work together and make their platform, JioMart and WhatsApp, available for approximately 30Million small grocery shops (Indian Kirana outlet) to digitally transact with every customer in their neighbourhood.
What does it mean for Facebook?
For Facebook, it means a lot, access to 370Million Jio customers, a partnership with India’s one of the biggest tech giant in telecom services and infrastructure with digital content.
For India, this deal holds great value. Though wallet service provider, PayTm (unit of One97) provides wallet recharge, online shopping, money transfer, soft banking etc. PayTm also work closely with Indian Grocery stores for collecting payment, which boomed post Demonetization in India (Sep 2017) and the company grew by manyfold.
Presence and acceptance of PayTm wallet across outlets, be it Grocery shop, parlour, gym, academic institution, shopping stores etc, is huge. Even it is used for giving Shagun of 501/ 1001 (as per sender budget) on different occasions like Diwali, Holi, Eid etc. (sorry I named few festivals only, the entire list of festivals flood this blog post).
This pact put a challenge and opportunity too, in-front of existing players like Grofers, BigBasket, PayTm, PhonePe etc. Only time and these players strategy will result in their outgrow or de-grow.
But for a consumer, I can see a huge wave of Offers/discounts is about to hit. And this is the need of the hour too, during such Pandemic situation of Covid19 outbreak.
“With great power comes great responsibility”. So true and applicable everywhere. I am sure the marriage (integration) between two great platforms (WhatsApp and JioMart) is going to be flawless but a crook minded person in public will utilize this a mint money from this. Such incidents happen earlier also with platforms like OLX, PayTm etc. Please keep in mind that there was never a flaw in technology, it was presentation and interpretation of being.
Hope you find it worth reading. Drop your comments below.
Bye till we read next. 🙂