$ 200 Million Will Be Invested By Jio In Lock Screen Content Company InMobi’s GlanceInfodeal users
As per the latest reports, Reliance industries has been planning to invest in Glance. The investment will be $200 million. Glance is a lock screen content maker company. It is formed by Alphabet and the owner of the company is InMobi, an Ad-Tech firm. The investment will be done to upgrade Jio phones which are estimated to be launched later this year.
Jio, one of India’s largest mobile network providers, has announced a new partnership with blockchain startup Glance. The partnership will see Jio invest in Glance, which will use the funds to further develop its digital identity app. The move is the latest in a series of digital identity ventures from telecom providers across India. Jio has built digital identity apps in the past, most notably this collaboration will help Jio advertise its services to the Jio users directly. Glance helps to provide news, videos, and other entertainment videos which directly appear on the lock screen.
The investment deal was made by the platform of Reliance Jio. The valuation of Glance stood at the price of $ 1.7 Billion to $ 1.8 billion. As per the Indian rupee, it cost Rs. 12000-13000 crore.
In a statement given by the Chief Executive officer of InMobi, he stated that Glance will be featured on around 100 Jio phones during a phone call interview. The Jio Phone Next has been launched this year. However, there has not been any
information related to the sales of the latest mobile phone. It is reported that the business tycoon Mukesh Ambani is investing in digital business to provide support to their brand, Jio. He is planning to make Jio a brand that is powerful and involves high-speed connectivity with content and advanced commerce options.
Jio, the telecom company that revolutionized the Indian telecom market, is now a full-fledged brand. With its data-centric offerings, Jio has captured the Indian market. It has built the largest telecom network in the country, making it the go-to provider for telecom services. Jio has also expanded into offering internet services, which has further cemented its position as a telecom powerhouse.
InMobi is expecting a much bigger collaboration with Jio as they are planning to expand their reach by implementing Glance on different devices. They are also planning to enter the gaming environment.
Glance can be found on the leading smartphones by showing news on the lock screen including Samsung, Realme, Oppo, Xiaomi, Vivo. Glance is developing strategically in the American markets. It is focusing on content-based commercial gains in the future. It has a support of 100 million $ investment by Alphabet.