United States (US) based wireless technology giant Qualcomm Inc's investment arm Qualcomm Ventures has joined the beeline of investors which have bought shares in Mukesh Ambani owned Jio Platforms, Indian Express.
Qualcomm Ventures, the twelfth such investor, will be purchasing 0.15 per cent stake in Jio Platforms for a sum of Rs 730 crore. The development was made public by Reliance Industries Ltd (RIL) which is the parent company of Jio Platforms.
Qualcomm Ventures' investment has valued Jio Platforms at an equity value of Rs 4.91 lakh crore and at an enterprise value of Rs 5.16 lakh crore. Also, it is the third technology firm to invest in Jio Platforms, others being Facebook Inc and global semiconductor heavyweight Intel.
It should be noted that of the 12 investors which Jio Platforms has attracted massive sums of investments from, the majority happen to be US-based entities like Facebook Inc, Silver Lake Partners, General Atlantic, KKR and Intel among several others.
Meanwhile, the non-US entities include investors like the sovereign wealth funds of the Kingdom of Saudi Arabia and Abu Dhabi.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.