Jio to invest $200 million in Glance; JioPhone Next to get Glance lock screen


Glance today announced that it will US$200 million from Jio Platforms Limited in its Series D round of funding. Jio’s investment is aimed at accelerating Glance’s launch in several key international markets outside of Asia such as the USA, Brazil, Mexico and Russia, said Glance.

The company said that it is aiming to create the world’s largest live content and commerce ecosystem on the lock screen and will use the funds raised to expand globally.  In addition to Jio Platforms, Glance is also backed by Google and Silicon Valley-based venture fund Mithril Capital.

Glance has also entered into a business partnership arrangement with Reliance Retail, providing for Glance’s ‘lock screen platform’ to be integrated into the JioPhone Next smartphones. The deal is also expected to lead to further strategic collaborations between Glance, Reliance Retail and Jio across devices, commerce, content and gaming ecosystem.

Glance said that its lock screen platform is present on more than 400 million devices across markets in Asia. The transaction is subject
to the satisfaction of customary closing conditions and regulatory approvals.

Commenting on the investment in Glance, Akash Ambani, Director, Jio Platforms Limited, said:

Glance has grown at a phenomenal pace over the past two years and has given users a truly unique solution by unlocking the power of the lock screen for experiencing the internet, live content, creator driven entertainment commerce and gaming. With the help of this investment, Glance expects to launch in several key markets globally as well as extend the experience to millions of Jio users, further reinforcing our commitment to provide the most advanced and next-level tech and digital ecosystem for consumers in India and beyond.

Naveen Tewari, Founder & CEO of InMobi Group, said:

Mr. Mukesh Ambani has been a source of immense inspiration for me since my early days, and it is an honor to have Jio becoming a strategic partner in our journey. Jio’s investment into Glance brings a deep synergy of vision and philosophy. Jio is a truly disruptive company. It made internet accessible for millions of users, making India one of the largest internet markets in the world. Reliance is now disrupting the smartphone market with launch of its JioPhone Next smartphones. Jio’s investment into Glance and Glance’s presence on the lock screen of JioPhone Next smartphones will lead to a paradigm shift in how its users experience the internet.


Author: Srivatsan Sridhar

Srivatsan Sridhar is a Mobile Technology Enthusiast who is passionate about Mobile phones and Mobile apps. He uses the phones he reviews as his main phone. You can follow him on Twitter and Instagram





Source link

We will be happy to hear your thoughts

Leave a reply

MB DROPS
Logo
Enable registration in settings - general
Shopping cart