$13.5 billion; 9 renowned investors; < 7 weeks!
Three years ago, when I first sought out to buy a mobile data plan in the US, I was paying ~$30 monthly for 1GB of data by perhaps one of the worst service providers (I think it was Ultra Mobile).
Until a few weeks back home in India, I was paying $5 per month for 1GB of data per day! i.e. 30x more data in 1/6th the price.
I had to drastically cut down my usage pattern based on the scantily available data plans here in the US whereas friends & family back home used to sarcastically comment on the data splurge they enjoyed.
I was lucky enough to watch Jio‘s growth very closely as an employee, and penned down an article back in 2017 alluding to how Jio will make a splash in the world by its superior technology and ability to navigate complex Indian business ecosystem (link in the comments).
Three years later, Jio has raised $13.5 billion from a syndicate of world’s most sophisticated investors in pretty much no time.
Below is a photo of me with Mr. Mukesh Ambani, collecting a check after winning one of India’s biggest technology competition. Learned a lot from the humble man in this brief meeting.
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