The world’s largest social media company announced the purchase of almost 10% of JIO, whose cut-price mobile internet service has attracted 388m Indian users since its birth in 2016.
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Facebook invests $5.7b in Indias Reliance JIO
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“Small business advertising on Facebook is not going to get you all the way to justifying the capital investment. Presumably there’s some other motivation,” said Brian Wieser, global president of business intelligence at GroupM, citing “exposure to the wireless sector” as an example.
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