Silver Lake Invests Rs. 5,655.75 Crores in Jio Platforms Limited

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Silver Lake Invests Rs. 5,655.75 Crores in Jio Platforms Limited
A few weeks again, Facebook picked up a 9.9 p.c stake in Jio Platforms Limited, and now, American non-public fairness agency Silver Lake has stepped as much as make investments Rs. 5,655.75 crores ($750 million) for 1.15 p.c stake.

Silver Lake has beforehand invested in a number of firms equivalent to Twitter, Airbnb, Alibaba, Alphabet’s Verily and Waymo, Ant Financial, and Dell Technologies. In an official assertion, Egon Durban, Co-CEO, and managing associate, Silver Lake, mentioned Jio Platforms is without doubt one of the world’s most exceptional firms led by an extremely robust and entrepreneurial administration group who’re driving and actualizing a brave imaginative and prescient.

“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 mentioned.

Speaking of the funding, Mr. Mukesh Ambani, Chairman and Managing Director – Reliance Industries Ltd mentioned the next: “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.”

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