Skip to main content

Sphero Indi Is a Tiny Robotic Car That Helps Children Learn Programming

Post a Comment

US Private Equity Firm KKR Invests $1.5 Billion in Reliance Jio


US Private Equity Firm KKR Invests $1.5 Billion in Reliance Jio

By Techtonic group

Reliance Industries on Friday announced a 2.32 percent stake sale in its telecom arm, Jio, to US-based private equity giant, KKR. Worth Rs. 11,367 crores ($1.5 billion), the deal values Reliance Jio's digital business at Rs. 4.91 lakh crores (around $65 billion). It is the fifth major deal in Jio over the past four weeks, helping Reliance Industries mop-up a combined Rs. 78,562 crores. The money is expected to help the company pay off a portion of its debts worth Rs. 1.62 lakh crores (around $21.4 billion ).

"This transaction values Jio Platforms at an equity value of Rs. 4.91 lakh crores and an enterprise value of Rs. 5.16 lakh crores. This is KKR's largest investment in Asia and will translate into a 2.32 percent equity stake in Jio Platforms on a fully diluted basis", Reliance Industries said in a statement.

Reliance has announced a series of blockbuster deals over the past few weeks, starting with a 9.9 percent stake sale to Facebook late last month. The deal, worth Rs. 43,574 crores (around $5.7 billion), put an enterprise value of Rs. 5 lakh crores (around $66 billion) on India's largest wireless carrier.

That was followed by a deal with US private equity firm, Silver Lake, who bought a 1.15 percent stake in Jio Platforms for Rs. 5,665.75 crores (around $750 million). Earlier this month, US-based Vista Equity Partners bought 2.32 percent stake in Jio Platforms for Rs. 11,367 crores (around $1.5 billion). Last week, global equity firm, General Atlantic, picked up 1.34 percent stake in Jio Platforms for Rs. 6,598.38 crores (around Rs. 870 million).

In a statement announcing the latest deal, Reliance Industries said that investments by leading global investors will enable Jio to scale its ecosystem and help its development into a next-generation software product and platform company.

Labels:

Comments

Post a Comment

Popular posts from this blog

Here is the First-Ever Video That Was Posted on YouTube

Here is the First-Ever Video That Was Posted on YouTube By Techtonic group Fifteen years ago, on Valentines' Day of 2005, the domain name "www.youtube.com" went live. The following months saw developments of the website and the first-ever video on the platform was posted on April 23, 2005. The YouTuber who shared the video was none other than one of the founding members, Jawed Karim. The YouTube that we know now is a massive video streaming platform with innumerable audience members. However,  it is fascinating to see from where the platform started its journey . So, in this article, I want to talk about the very first video that was uploaded on the platform, and surprisingly, it still exists. So, the 240p, grainy video, titled "Me at the zoo", shows a 25-year-old Jawed Karim, one of the founders of YouTube, standing in front of a group of elephants at the San Diego Zoo.  The 18-second video went live on April 23, 2005, and it is still there with ove...
Post a Comment
Read more

Instagram Parteners with Swiggy, Zomato to Let Resturant Add 'Food Order' Stickers in Stories

Instagram Parteners with Swiggy, Zomato to Let Resturant Add 'Food Order' Stickers in Stories By Techtonic group Instagram recently gave users the option to promote small (and local) businesses by placing a sticker in their Stories. Now, the company has partnered with two of India's renowned food delivery apps -  Swiggy and Zomato  - to bring a similar feature to the restaurant owners. It has debuted a new  'Food Order' sticker  that restaurants can include in their Stories to drive sales. The Coronavirus-led lockdown saw almost all restaurants and eateries shut shop for several days. And even when they opened, netizens have been wary to eat outside or order in due to hygiene concerns. Well, as restaurants open up in line with the WHO safety guidelines, they can now head to Instagram to find a new 'Food Orders' sticker in the Stories section. This new sticker is interactive and will  enable users to place food orders  simply by tapping on the sa...
Post a Comment
Read more

Sphero Indi Is a Tiny Robotic Car That Helps Children Learn Programming

Robotic toys for learning are becoming more common in the market as kids turn more towards STEM learning. As a result, we’ve seen several modular and advanced robotic toys that are designed to help children learn the basic concepts of programming and problem-solving. And the Sphero indi is not that different. The Sphero indi Developed by renowned robotic-toy maker Sphero, the indi is essentially a toy car that helps children learn about the core concepts of problem-solving and logical thinking. The learning set comes with the indi, which the tiny robotic car, and a bunch of color-coded silicone-based tiles, designed to give the indi specific instructions. For instance, a green tile tells the car to move faster, a pink tile tells it to turn left, a yellow one instructs the car to drive slowly, and a red tile stops the car. So, the car comes equipped with a color sensor to detect the color of a tile over which it is driving and respond accordingly. Hence, using the Sph...
Post a Comment
Read more