Back in April, social media giant Facebook acquired 9.99% equity stake in jio platforms by spending Rs 43,574 .This partnership...
Back in April, social media giant Facebook acquired 9.99% equity stake in jio platforms by spending Rs 43,574 .This partnership agreement is aimed to promote Reliance Retail's new commerce business on the JioMart platform using WhatsApp. Having said that Facebook CEO Mark Zuckerberg has now revealed that there is more to it than just supporting small businesses in India on WhatsApp.
Facebook wants to convert the user base of WhatsApp in India into Something more beneficial for the Company. While it is looking at ways to make money out of WhatsApp. Zuckerberg thinks enabling users to do business on WhatsApp will help accelerate the plan.
Zuckerberg told analysts that a big part of this deal is supposed to get many small businesses in India to do business on WhatsApp. Jio will simply help WhatsApp to get those small businesses interested in using WhatsApp for commercial purposes.
We are really excited about the opportunity there. And once we prove that out with jio in India, we are planning on expanding it to more folks in India and to other countries as well Zuckerberg told analysts.
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