Reliance may invest USD 300 mn in Glance: Sources

Reliance Jio and Google announced their collaboration to develop an affordable smart phone in July, 2020

Reliance Industries Ltd might invest around USD 250- USD 300 million. According to the sources, RIL is planning to buy a stake InMobi's mobile content platform Glance. Although, an email was sent to the conglomerate did not elicit any response.
 
The dicey development assumes importance since the platform will be able to give curated content for the conglomerate upcoming mobile phone which has been developed with Google. Glance is significantly backed by Google Inc's subsidiary Alphabet Inc. Glance provides curated content including news and short videos on the smartphone's locked screens. The sources also said that the transaction will probably completed within few weeks.
 
Reliance Jio and Google announced their  collaboration to develop an affordable smart phone in July, 2020. Thereafter, Jio and Google signed a commercial agreement to jointly develop the entry-level affordable smartphones with optimisations to the Android operating system and the Play Store. At that moment, Google Inc had also announced to invest rupees 33,737 crore (USD 4.5 billion) in Jio Platforms for an equity stake of 7.73 percent.

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