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Jio partnership will help build similar products around the world, says Mark Zuckerberg

During an earnings call on Wednesday, Facebook CEO Mark Zuckerberg highlighted the importance of Facebook's partnership with Reliance Jio and how it would help build similar products around the world.

twitter-logoIndia Today Tech | April 30, 2020 | Updated 13:10 IST
(Source: Reuters)

Highlights

  • Last week Facebook invested over Rs 43,000 crore in Reliance Jio platforms.
  • Mark Zuckerberg said that the investment will help the company build similar products around the world.
  • Zuckerberg also said that the company is looking to merge all of its apps to help small businesses drive transactions.

Facebook's recent investment of $5.7 billion which is over Rs 43,000 crore in Jio platforms will help the social-media giant build similar products for other markets around the world, according to Facebook CEO Mark Zuckerberg, news agency IANS reported.

"Certainly all the products and technology that we're building to enable that (Jio) partnership are going to be things that we want to do around the world. So we're very excited about working with them to drive this vision forward and then extending it everywhere over the coming months and years," Zuckerberg told the analysts during an earnings call.

Zuckerberg further said that Jio has had the Jio Mart vision for a while. "There are millions of small businesses and shops across India and they want to try to help get them on to a single network that you'll be able to communicate with through WhatsApp and do payments online through WhatsApp," Zuckerberg said.

Last week Facebook invested 9.99 per cent in an equity stake in Reliance Jio becoming its largest shareholder. Facebook intends to bring Reliance's Jio Mart to its messaging app, WhatsApp.

It has piloted the project in some suburban Mumbai areas of Navi Mumbai, Thane and Kalyan.

Jio launched JioMart last December and with WhatsApp's backing, it can now reach 400 million users.

JioMart has given a WhatsApp number 88500 08000 which is to be added for customers to place orders on JioMart. JioMart then sends a link to the customers which is active for 30 minutes. The link then directs the user to a new page where details are to be filled. Once this is done, the customers can get access to the list of products.

Zuckerberg said that Facebook is looking to merge the family of apps including Facebook, Instagram, WhatsApp, Messenger. This will help small businesses have a presence on all the apps. Through this integration, the small businesses "can communicate organically and then increasingly can do things that can help them drive transactions," Zuckerberg said.

"We started rolling out things like catalogs in WhatsApp, we're working on payments to be able to complete transactions and we've rolled out a new ad format, click to messaging ads, where basically small businesses and different businesses are finding that their message threads with people perform better for driving sales than their websites or other presences; they buy ads inside Facebook or Instagram and send people through chat threads," Zuckerberg elaborated.

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