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Ambani sold a tech dream for $27 billion. Now he has to deliver.

Ambani sold a tech dream for $27 billion. Now he has to deliver.
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Mukesh Ambani sold dreams to tech giants for $27 bn. Now he has to deliver

Now flush with $27 billion in fresh capital, Asia’s richest man is under pressure to deliver.
The 63-year-old Indian tycoon is focused on a handful of priorities as he tries to turn Reliance Industries Ltd. from an old-economy conglomerate into a technology and e-commerce titan, according to recent public statements and people familiar with the company’s plans.
These include developing products for the anticipated roll-out next year of a local 5G network; incorporating Facebook’s WhatsApp payments service into Reliance’s digital platform; and integrating the company’s e-commerce offerings with a network of physical mom-and-pop shops across the country. Ambani is also pushing forward with plans to sell a stake in Reliance’s oil and petrochemical units, a deal he had originally hoped would reduce debt and finance his high-tech pivot earlier this year. ....

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Mukesh Ambani sold a dream for $27 billion. Now he has to deliver

Reliance chairman and managing director Mukesh Ambani. (Bloomberg)
Mukesh Ambani spent much of 2020 convincing Facebook Inc., Google and a clutch of Wall Street heavyweights to buy into his vision for one of the world’s most ambitious corporate transformations. Now flush with $27 billion in fresh capital, Asia’s richest man is under pressure to deliver.
The 63-year-old Indian tycoon is focused on a handful of priorities as he tries to turn Reliance Industries Ltd. from an old-economy conglomerate into a technology and e-commerce titan, according to recent public statements and people familiar with the company’s plans.
These include developing products for the anticipated roll-out next year of a local 5G network; incorporating Facebook’s WhatsApp payments service into Reliance’s digital platform; and integrating the company’s e-commerce offerings with a network of physical mom-and-pop shops across the country. Ambani is also pushing forward with ....

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Mukesh Ambani Gathered $27 Billion. Now He Has to Deliver

Mukesh Ambani Gathered $27 Billion. Now He Has to Deliver
Mukesh Ambani Gathered $27 Billion. Now He Has to Deliver
Mukesh Ambani is focused on a handful of priorities as he tries to turn Reliance Industries Ltd. from an old-economy conglomerate into a technology and e-commerce titan.
Mukesh Ambani is also pushing forward with plans to sell a stake in Reliance s oil.
Mukesh Ambani spent much of 2020 convincing Facebook Inc., Google and a clutch of Wall Street heavyweights to buy into his vision for one of the world s most ambitious corporate transformations. Now flush with $27 billion in fresh capital, Asia s richest man is under pressure to deliver. ....

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Ambani sold a tech dream for $27 billion — now he has to deliver

December 29, 2020
Advertisements for Jio Platforms, the mobile network of Reliance Industries, are displayed at Marine Drive in Mumbai, India, on Tuesday, July 14, 2020. Google is in advanced talks to buy a $4 billion stake in Jio, the digital arm of Indian billionaire Mukesh Ambani’s conglomerate, people familiar with the matter said, seeking to join rival Facebook in chasing growth in a promising internet and e-commerce market. MUST CREDIT: Bloomberg photo by Dhiraj Singh
Mukesh Ambani spent much of 2020 convincing Facebook, Google and a clutch of Wall Street heavyweights to buy into his vision for one of the world’s most ambitious corporate transformations. ....

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