Can you tell me about the Jio investment in Glance?
Answer
Answer
In one more inorganic foray for the Reliance group, Jio Platforms has invested $200 million in Glance. Now Glance is an artificial intelligence-powered lock-screen platform. When you get to see a lot of personalized content on you lock-screen, that back end engine for the same is someone like Glance. The proposed investment by Reliance Jio will help to catalyse Glance’s launch in several key international markets, like the US, Brazil, Mexico and Russia.
To understand the business model of Glance, it creates the complete suite of live content and commerce ecosystem on the lock screen of the mobile phone itself. Glance unlocks the power of the lock screen as a property for advertisements and targeting content. Glance is the default option in 65% of new smartphones that are sold in India. For Jio, this is a ntural fit for their mega launch of the JioPhone Next in collaboration with Google.