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The first major investment that Reliance Jio received from Mukesh Ambani was a whopping Rs.150,000 crore making it the largest start-up ever in the world to receive such a hefty investment to get started. Since then Reliance Industries has seen a cash inflow from investors of almost a trillion crores, which includes funding from Mark Zuckerberg and the Public Investment Fund. Share dilution for these two were 9.99% and 2.32% respectively. Apart from these Google also invested into Jio in 2020 at the start of the pandemic.
The network was rolled out in September 2016 and crossed the 50 million subscriber mark within 83 days of launch. A world record was created by crossing 16 million in total subscribers within 30 days of starting operations. The company itself did not anticipate the pace at which customers were enrolling for the network, almost 1,000 new users every minute! The impact on other players in the industry was huge and they had lost approximately 5 million users in the first two months of the financial year of 2017.
A game changer in the field of telecom was the way Reliance Jio made use of the Aadhar card and guaranteed an active sim within 15 minutes via the process of e-KYC. Initially rolled out in Delhi and Mumbai this facility was then rolled out to all customers across the nation. A customer could just walk into a store with his or her aadhar card and walk out with a fully functioning sim card almost instantly.
The company had set up close to 130,000 towers across the length and breadth of the country in an effort to provide mobile access to customers in the remotest of locations. In 2021 it became the first network to set up a 4g tower in Demchok in Eastern Ladakh expecting to change lives of people residing there. Currently Canada based company, Brookfields owns 100 percent stake in the tower infrastructure of Jio.
With a marketing strategy aimed at capturing industry which required the use of technology, Jio added almost 7 customers every second of every day which displayed an unprecedented acceptance level for any company across the world in the telecom sector. Once the commercial roll out was in place, the 90-day free services offer worked as a trump card for Jio to acquire customers The network acquired 100 million users in 170 days making it the first company to achieve such a feat.
With the launch of Jio, the average consumption of data shot up to 3.3 crore GB of data per day, catapulting India into top spot in terms of data consumption. India jumped to the number 1 position from number 155 with users consuming over 100 crore GB data in a single month and 5.5 crore hours of video per day in January 2017. Within 180 days of launch, India broke records of data usage consuming over 1 billion GB of data every month compared to less than 200 million GB earlier.
By the end of December of 2021, Jio had added close to 410 million active subscribers making it the largest telecom provider in the country. The rural base for Jio amounted to almost 185 crore users capping a total market share of 37%. The company, however, lost 12.8 million users in December 2021, which is an average churn for any telecom operator.
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