Jio Platform's investment in Glance
Intended for 17 percent stake, Jio Platforms reaches a decision to finance $200 million in Glance, an internet company
By : Legal Era
Update: 2022-02-16 10:30 GMT
Jio Platform's investment in Glance
Intended for 17 percent stake, Jio Platforms reaches a decision to finance $200 million in Glance, an internet company
Jio Platforms Limited (Jio) decides to capitalise Glance, a foremost AI-driven lock-screen platform with an amount of US$200 million (about Rs 1,500 crore)
Glance is also supported by technology giant Google and Silicon Valley-based venture fund Mithril Capital besides Jio Platforms
Reliance Jio Platforms was instructed on the deal by K Law and White & Case
Glance was directed by Khaitan & Co
The focus of the contract is based on the regulatory approvals and the satisfaction of customary closing conditions
Intended to speed up Glance's launch in several key international markets like the USA, Brazil, Mexico and Russia, Jio has anticipated investment
To adapt the internet experience for millions of Jio users, a business partnership agreement is signed between Glance and Reliance Retail. Across devices, commerce, content and gaming ecosystems, the expectation of the contract is to lead additional strategic alliances between Glance, Reliance Retail and Jio.