The telecom network
Jio was soft-launched on 27 December 2015 with a beta for partners and employees, and became publicly available on 5 September 2016. It is the
largest mobile network operator in India and the
third largest mobile network operator in the world with over 42.62
crore (426.2 million) subscribers. In September 2019, Jio launched a
fibre to the home service, offering home broadband, television, and telephone services. In October 2019,
Reliance Industries announced the creation of a wholly owned subsidiary for its digital businesses including
Jio. In November 2019, the subsidiary was named Jio Platforms. The liability of Jio was transferred to Reliance and in turn Reliance received preferential shares of Jio Platforms. According to some observers, the restructuring was done to keep the digital businesses of the group within a debt-free entity. In April 2020,
Facebook acquired a 9.99% stake in Jio Platforms for . According to this deal, while Jio Platforms retained , the parent company got the remaining for redeeming the optionally convertible preference shares it held in the subsidiary. But unlike the previous transaction, the entire investment in this case was retained by Jio Platforms. American private equity firm
KKR acquired a 2.32% stake in Jio Platforms for . In June 2020, Emirati sovereign fund
Mubadala confirmed that it would acquire a 1.85% stake in the company for . Silver Lake increased its stake to 2.08% with an additional investment.
Abu Dhabi Investment Authority then bought a 1.16% stake in the company for . On 13 June,
TPG took stake in Jio Platforms of 0.93% worth .
L Catterton also made an investment of for a 0.39% stake. In June 2020,
Saudi Arabia's
Public Investment Fund confirmed that it would acquire a 2.32% stake in the company for . In July 2020,
Intel confirmed that it would acquire a 0.39% stake in the company for . In July 2020,
Qualcomm confirmed that it would acquire a 0.15% stake in the company for . This was followed by
Google purchase of 7.7% stake in the company for . In June 2021, Jio Platforms unveiled their Android smartphone named JioPhone Next, with plans to launch in India by September 2021. In February 2022, Jio Platforms formed a joint venture with satellite operator
SES. The newly formed Jio Space Technology Limited will deliver broadband services in India of up to 100 Gbit/s capacity using SES's
SES-12 high-throughput geostationary satellite and the
O3b mPOWER medium Earth orbit satellite constellation, to extend JPL's terrestrial network, enhancing access to digital services in unconnected areas within India and the region. JPL and SES will own 51% and 49% equity stake respectively in the new company. In December 2023, Jio Studios decided to back out of producing upcoming
Akshay Kumar movies
Hera Pheri 3 and
Welcome to the Jungle. In the companies 47th annual general meeting chairman
Mukesh Ambani unveiled the Artificial Intelligence platform JIO Brain. ==Businesses==