Skip to content
Subscriber Only

Facebook Seals Biggest Deal Since WhatsApp With Ambani

  • Tech giant to become largest minority holder of Jio Platforms
  • Reliance Industries shares surge 10% in Mumbai on agreement
Bloomberg business news
Ambani Is Asia's Richest Person Again
Updated on

Facebook Inc. will invest $5.7 billion in the digital assets controlled by Asia’s richest man, the U.S. social-networking giant’s biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market.

The U.S. company will buy about 10% of Jio Platforms, becoming the largest minority shareholder, Reliance Industries Ltd. said in a statement Wednesday. Separately, Facebook said the deal would bring together JioMart, an e-commerce venture of Mukesh Ambani and its WhatsApp platform to enable people to connect with businesses.