1947 Tech 🇮🇳: 105

Once a week newsletter: Insights on Tech, markets, startups, venture capital, and foreign investments in India

1. Facebook in talks to acquire 10% stake in Jio: Report

After Meesho and Unacademy, Facebook is eying its third deal.

Well, why not?

India is the biggest market for Facebook with 328 million monthly users and the company’s WhatsApp messaging app has 400 million users in the country, also the most in the world.

Facebook is said to be in negotiations to acquire a stake in Mukesh Ambani’s Reliance Jio Infocomm, the Financial Times reported, citing two people with knowledge of the matter.

It said the social media giant was close to an initial agreement to pick up a 10% stake but discussions hadn’t moved forward on account of the global disruption following the coronavirus outbreak. A deal was to have been announced by March end.

Facebook in talks to acquire 10% stake in Jio: Report 

2 How Indian startups are helping fight COVID 19 in India

Tech startups often get criticized. But hey I hope we have realized by now, not only startups move the world forward, but it also saves the world.

There are three basic necessities of humans: Food, health, and shelter.

Indian startups are providing all three:

• Swiggy ready for grocery services in 150 top cities — ETtech

• Zomato sets up fund for delivery staff, extends Gold memberships by two months

• Oyo offers rooms for quarantine amid Covid-19 outbreak 

• Online therapy apps to the rescue as professionals seek help 

Worth reading:

1. Curefit scoops up Rs 832 crore funding led by Singapore’s Temasek Link

2. India’s MX Player expands to US, UK and other markets in international push Link

3. BigBasket acquires DailyNinja, targets 2X growth for bbdaily Link

4. Udaan receives $30 Mn from holding company Trustroot Internet Link

A week in review:

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