Page 29 - SAMENA Trends - April 2020

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Facebook Makes Gargantuan $5.7bn Investment in India’s Biggest Telco;
India Remains Facebook's Biggest Overseas Market

US social media giant, Facebook, has lakh crore pre-money enterprise value online post. “India is home to the largest
agreed to buy a 9.99 per cent stake in ($65.95 billion, assuming a conversion communities on Facebook and WhatsApp,
India’s biggest mobile network operator, rate of Rs70 to a US Dollar). Facebook’s and a lot of talented entrepreneurs. The
Reliance Jio, for $5.7 billion (43,574 crore investment will translate into a 9.99% equity country is in the middle of a major digital
rupees), according to an official company stake in Jio Platforms on a fully diluted transformation and organizations like
statement. Reliance Jio exploded onto the basis," Reliance Jio’s parent company, Jio have played a big part in getting
scene when it launched in 2016, bringing Reliance Industries, said in a statement, hundreds of millions of Indian people
unprecedented levels of disruption to the originally sourced by The Economic and small businesses online. “This is
Indian telecoms market, with its series of Times of India. India is Facebook’s largest especially important right now, because
ultra-cheap 4G data tariffs and handsets. market outside of the US and a potentially small businesses are the core of every
The company has been a fundamental lucrative one, especially with Facebook economy and they need our support. India
catalyst in India’s digital revolution and believed to be considering launching a has more than 60 million small businesses
has accrued over 330 million subscribers number of pay per play services across its and millions of people rely on them for
in just three years, to become the country’s mobile messaging subsidiaries, Whatsapp, jobs. With communities around the world
biggest mobile network operator. The Facebook Messenger and Instagram in lockdown, many of these entrepreneurs
deal will be seen as a major win for both Messenger. “Facebook is teaming up with need digital tools they can rely on to find and
companies, allowing Reliance Industries Jio Platforms -- we're making a financial communicate with customers and grow
to pay down its significant debt pile, investment, and more than that, we're their businesses. This is something we can
while simultaneously offering Facebook committing to work together on some help with -- and that's why we're partnering
vital access to the world’s second largest major projects that will open up commerce with Jio to help people and businesses in
telecoms market. "This investment by opportunities for people across India,” said India create new opportunities,” he added.
Facebook values Jio Platforms at Rs4.62 Facebook CEO, Mark Zuckerberg, in an

Facebook Makes Mobile Gaming Play

Facebook fast-tracked the global launch available only on Google Play, with an iOS and connect around their favorite games,
of a standalone mobile gaming app, version in the works for a later date. Prior streamers, Groups, and more.” Among
in an effort to tap into the increasingly to today’s launch, the Gaming offering has the main features will be a personalized
popular segment during the COVID-19 been available within the main Facebook gaming feed and the option to live stream
(coronavirus) pandemic. A company app for about a year, but the company games to Facebook from a phone, a
representative told Mobile World Live claimed its move to introduce a dedicated move the company stated would allow
the Facebook Gaming app will initially be app would allow people to easily “find gamers worldwide to try streaming “in an
approachable way,” removing the need for
using webcams or capture cards. Users will
also be able to discover gaming creators
and watch videos from leading e-sports
and gaming publishers, play instant games
without the need to install additional
apps, and connect in gaming community
groups. The app launch follows testing
in Southeast Asia and Latin America,
which has resulted in over 5 million
installs on Google Play since late 2018.
Live game streaming has experienced a
significant increase during the COVID-19
outbreak, and leading platforms such
as Twitch and Mixer recorded their
best revenue generating month in
March, data from Apptopia showed.

29 APRIL 2020