As we all know, in April 2020 Facebook had announced an investment of around $5.7 billion in Jio Platforms Limited, which a subsidiary of Reliance Industries Limited. Obviously, this investment makes Facebook Jio’s largest minority shareholder.
But the interesting part of this deal was this deal with Jio allowed WhatsApp’s integration with JioMart to enable people to connect with businesses, shop, and ultimately purchase products in a seamless mobile experience.
And now as per the reports from ET, the Facebook founder and CEO Mark Zuckerberg said that the company will expand the partnership with Jio platforms on WhatsApp to other commerce customers in India. This is not all, Facebook will also take the solution outside of India to other countries.
Reportedly, Facebook founder, Mark Zuckerberg told analysts;
“A big part of the partnership that we have with Jio will be to wire up and get thousands of small businesses across India on-boarded onto WhatsApp, to do commerce there. And we’re really excited about the opportunity there. And once we prove that out with Jio in India, we’re planning on expanding it to more folks in India and to other countries as well.”
He also added;
“It’s very connected to what I was just talking about around messaging commerce. A lot of people use WhatsApp, especially in India, there’s a huge opportunity to enable small businesses and individuals in India to buy and sell things through WhatsApp. We want to enable that. That starts with enabling payments.”
“It is the largest country by the size of our community that we’re serving already. And it should be one of the fastest-growing business opportunities as well to help businesses grow there, and we’re very excited about that.”