Facebook and ByteDance investor General Atlantic pumps $870 million into Reliance Jio


India’s Reliance Jio has scored its fourth investment in four weeks. US-based firm General Atlantic has invested ₹6,598.38 cores ($870 million) in Jio Platforms in exchange for a 1.34% stake. In the past month, Facebook, Silver Lake, and Vista group have invested more than $8 billion in Jio, picking up 9.9%, 1%, and 2.32% stakes respectively. The new investment values Jio Platforms at $65 billion. [Read: Facebook buys GIPHY, the popular GIF-hosting platform] Bill Ford, CEO of General Atlantic, said the firm shares Reliance chairman Mukesh Ambani‘s conviction that digital connectivity has the potential to significantly accelerate the Indian economy: As long-term… This story continues at The Next Web Or just read more coverage about: Facebook

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