Facebook’s $5.7 billion bet on Indian giant Jio spells trouble for Amazon and Flipkart
https://techcrunch.com/2020/04/22/facebooks-5-7-billion-bet-on-indian-giant-jio-spells-trouble-for-amazon-and-flipkart/
Facebook’s major bet on Jio Platforms could create a headache for mobile payments services that have amassed tens of millions of users while struggling to find a business model in the world’s second-largest internet market.
The $5.7 billion investment, Facebook’s second-largest to date, could also further its dominance in India — its biggest market by user count — by expanding the reach of consumer-facing services like WhatsApp and expanding its lead over ByteDance’s TikTok, which has amassed more than 250 million Indian users in two years.
Facebook’s $5.7 billion bet on Indian giant Jio spells trouble for Amazon and Flipkart
Apr 22, 2020, 8:36pm UTC
https://techcrunch.com/2020/04/22/facebooks-5-7-billion-bet-on-indian-giant-jio-spells-trouble-for-amazon-and-flipkart/
> Facebook’s major bet on Jio Platforms could create a headache for mobile payments services that have amassed tens of millions of users while struggling to find a business model in the world’s second-largest internet market.
> The $5.7 billion investment, Facebook’s second-largest to date, could also further its dominance in India — its biggest market by user count — by expanding the reach of consumer-facing services like WhatsApp and expanding its lead over ByteDance’s TikTok, which has amassed more than 250 million Indian users in two years.