Ambani’s Jio sells $873m stake as e-commerce drive attracts General Atlantic

Mumbai — Billionaire Mukesh Ambani extended his fundraising streak for Jio Platforms by selling an $873m stake to General Atlantic, an early investor in Airbnb and Uber Technologies.

“We are delighted that a renowned global investor like General Atlantic is partnering with us in our journey to digitally empower India and Indians,” said Akash Ambani, director of Reliance Jio, and chair Mukesh Ambani’s son. Mukesh Ambani, 63, formed Jio Platforms by combining the conglomerate’s digital apps and wireless carrier, Reliance Jio Infocomm, into a holding company.

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