Science & Tech

Facebook bought up to 10% of Indian company Geo Reliance’s shares

Facebook, the world’s largest social website, has invested about US $ 5 trillion (about US $ 10 trillion) in Geo Reliance, India’s largest media and telecommunications company.

Facebook has also invested in other online, technology and communications companies around the world, including Geo Reliance, while Facebook also bought apps such as WhatsApp and Instagram.

And now it has invested in Geo Reliance, India’s fastest-growing media and telecommunications company, the world’s largest country by population.

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Geo Reliance is the richest man in India, Mukesh Ambani’s company and owns several industries including media, telecommunications, e-commerce and mobile menu manufacturing.

Under the same company, several companies including Reliance Industries, Reliance Foundation, Network 18 Media Investment, Geo-Fiber, LYF Smartphones, GeoPhone, Geo-Mart, Geo-Net Wi-Fi, Geo-apps, GeoPaint Bank and GeoSun Have been

Mukesh Ambani launched the aforementioned company in 2016 and over a period of just four years, Geo Reliance has made 40 million people online in India and it is estimated that 90 million people in India will be online by 2022. ۔

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In India, where 40 million people have gone online thanks to Geo Reliance, there are more than 200 million people online through other sources, and there are more people coming online every day due to technology and communication improvements. Is increasing.

India is being viewed as an emerging online economy with more and more people going online, so Facebook has expanded its business by investing in the fastest growing company there. ۔

According to Reuters news agency, the Facebook organization has invested US $ 5 billion 70 million ($ 10 trillion) in Reliance Insurance.

By investing, Facebook bought about 10% of the Indian company’s shares.

According to Reuters, Facebook is mostly interested in Reliance Insurance’s online store, Geomart and GeoPmant, and focus will be on those same areas.

Read Also:Four more Kashmiris martyred by Indian army in occupied Kashmir

Facebook has signed an investment agreement with an Indian company at a time when Facebook was recently allowed online payments in India.

After getting approval from the Indian government, Facebook contracted Reliance Insurance, India has 40 million WhatsApp users and is also India’s largest messaging application

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