Day: May 4, 2020

Silver Lake to invest $747M in India’s Jio Platforms – TechCrunch

Weeks after Facebook invested $5.7 billion in Jio Platforms, India’s top telecom operator, private equity firm Silver Lake is following suit.

Silver Lake announced on Monday it will be investing 56.56 billion Indian rupees (about $746.8 million) in Jio Platforms for about 1.15% stake in the Indian telecom network, giving it a valuation of $65 billion, a 12.5% premium to the value implied by the Facebook investment.

The Menlo Park-headquartered PE firm, which has approximately $40 billion in combined assets and committed capital, has invested in dozens of tech firms over the years including video game engine maker Unity, Skype, consultancy firm Gartner, Alibaba’s Ant Financial, and Chinese ride-hailing giant Didi Chuxing, several of it in recent weeks. This year, Silver Lake has invested in Expedia, Twitter (in which it invested $1 billion), Airbnb, Waymo, and ServiceMax.

Reliance Jio Platforms, which began its commercial

Read more