Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

Reliance Jio Platforms tops 400M subscribers, explores expanding services outside of India

Reliance Jio Platforms, the telecom venture run by India’s richest man (Mukesh Ambani), had 405.6 million subscribers in the quarter that ended in September, becoming the first operator outside of China to cross 400 million subscribers in a single country market.

The Facebook and Google-backed telecom operator said its finances has improved, too, despite the pandemic. Its EBIDTA run-rate crossed $1 billion in the aforementioned quarter, while net profit jumped to $409 million. The average revenue it clocks per user now stands at Rs 145 $1.94), up from $1.88 from the quarter before. In the past two quarters, the company has expanded its workforce by 30,000 people, it said.

Jio Platforms also operates a range of services including JioTV, JioMusic, and JioMoney. Kiran Thomas, President of Reliance Industries (parent firm of Jio Platforms), said in an earnings call Friday that the company has proven that its services can be feasibly built in India, and the company plans to expand them outside of the country. However, he did not share a timeline for this expansion.

A slide from Reliance Industries’ quarterly earnings call (Reliance)

Reliance Industries, the most valuable firm in India, announced some more investments in its businesses, continuing its eye-catching funding spree at the height of a global pandemic.

The oil-to-retails giant announced that Abu Dhabi Investment Authority and Saudi Arabia’s Public Investment Fund will invest $1 billion in the company’s digital fibre business.

Abu Dhabi Authority and Saudi Arabia’s PIF are also an investor in Jio Platforms, which this year raised about $20 billion. A Reliance Jio spokesperson told TechCrunch that the investment announced today are separate and not part of the two firms’ previous deals.

More to follow…

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio...
Post a Comment
Read more

Drone crash near kids leads Swiss Post and Matternet to suspend autonomous deliveries

A serious crash by a delivery drone in Switzerland have grounded the fleet and put a partnership on ice. Within a stone’s throw of a school, the incident raised grim possibilities for the possibilities of catastrophic failure of payload-bearing autonomous aerial vehicles. The drones were operated by Matternet as part of a partnership with the Swiss Post (i.e. the postal service), which was using the craft to dispatch lab samples from one medical center for priority cases. As far as potential applications of drone delivery, it’s a home run — but twice now the craft have crashed, first with a soft landing and the second time a very hard one. The first incident, in January, was the result of a GPS hardware error; the drone entered a planned failback state and deployed its emergency parachute, falling slowly to the ground. Measures were taken to improve the GPS systems. The second failure in May, however, led to the drone attempting to deploy its parachute again, only to sever the line...
Post a Comment
Read more

How the world’s largest cannabis dispensary avoids social media restrictions

Planet 13 is the world’s largest cannabis dispensary. Located in Las Vegas, blocks off the Strip, the facility is the size of a small Walmart. By design, it’s hard to miss. Planet 13 is upending the dispensary model. It’s big, loud and visitors are encouraged to photograph everything. As part of the cannabis industry, Planet 13 is heavily restricted on the type of content it can publish on Instagram, Facebook and other social media platforms. It’s not allowed to post pictures of buds or vapes on some sites. It can’t talk about pricing or product selection on others.   View this post on Instagram   A post shared by Morgan Celeste SF Blogger (@bayareabeautyblogger) on Jan 25, 2020 at 7:54pm PST Instead, Planet 13 encourages its thousands of visitors to take photos and videos. Starting with the entrance, the facility is full of surprises tailored for the ‘gram. As a business, Planet 13’s social media content is heavily restricted a...
3 comments
Read more