Google Inc. (NASDAQ: GOOG) vs. Facebook Inc. (NASDAQ: FB)

Alphabet Inc. is a California-based technology company. +3.23 (Get Free Alerts for GOOG) Owned by GOOGL +3.37% (Get Free GOOGL Alerts) Two years after Mark Zuckerberg’s Facebook – now renamed Meta Platforms Inc’s FB +2.4% – major investment in Reliance Jio Platforms, Google will invest up to $1 billion in India’s second-largest telecom provider, Bharti Airtel. Here’s what happened: According to Airtel’s regulatory filing on Friday, Google will invest $700 million to buy a 1.28% stake in the company at a price of around $9.9 per share, as well as up to $300 million for potential multi-year trade deals. .

Facebook is investing $5.7 billion in one of India’s largest internet service companies. Why it matters: The investment is the latest example of growing interest in the US-based tech giants’ 1.8 billion Indian mobile users. Google and Meta products – Google Search, Youtube, Facebook, Instagram, WhatsApp – are hugely popular in India, where carriers are conducting 5G trials ahead of the commercial rollout expected this year. Meta Platforms had in 2020 invested $5.7 billion in Reliance’s Jio Platforms, the largest private telecommunications company owned by billionaire Mukesh Ambani’s listed Reliance Industries.

“As part of its first commercial agreement, Airtel and Google will work together to build on Airtel’s extensive offerings that cover a range of Android-enabled devices for consumers through innovative accessibility programs,” Airtel said. . The deal, he said, also aims to reduce the “barriers to owning a smartphone in a price range, in partnership with various device manufacturers”. Google CEO Sundar Pichai had said in 2020 that the company would invest around $10 billion for India’s Digitization Fund over the next five to seven years.

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  • Google Inc. (NASDAQ: GOOG) vs. Facebook Inc. (NASDAQ: FB)
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