Mark Accept Friend Request sent by Mr. Ambani
So, Mark has accepted the friend request sent by Mr. Ambani. A game-changer deal that will impact multiple industries in ONE shot ( E-Commerce, FinTech, OTT, Enterprise Services, etc.) in India.
Just to state an example, we all have seen how BIG RETAIL DADDY’S (Walmart, Amazon, etc.) got exposed to the crippling execution issues during the current lockdown period. Now imagine WhatsApp & Jio Services team up with India’s million’s of Ubiquitous Kirana store for delivering the goods at our doorstep offering much better customer service.
One should also note that FB & WhatsApp user base in India is more than its home country population ( US) & given a clear NO ENTRY in China, India is the obvious next lucrative market. While there is a happy realization for Facebook to have a local strategic partner here for doing business (Based on earlier failed attempts for getting on its own) & Jio fits quite well in the frame. For Mr. Ambani, there will be a multitude of advantages along with money ( $5.7Bn) which can be used to clear some of RIL’s debts.
Though, more transparency is needed in how Facebook and Jio will function BUT definitely a win-win situation for both !!