"The idea of Jio was first seeded by Ambani’s daughter, Isha, in 2011. She was a student at Yale (in the US) and was home for holidays. She wanted to submit some coursework and she said, 'Dad, the internet in our house sucks'," he recalled.
Mega thread on how the India’s Largest Telecom Operator – Reliance Jio (~35% market share) came into existence & became India’s Largest Mobile Broadband in less than 2 years.
Crazy story...no less than revolution..
Please retweet and comment below if you got blown away..
(1/n)
"The idea of Jio was first seeded by Ambani’s daughter, Isha, in 2011. She was a student at Yale (in the US) and was home for holidays. She wanted to submit some coursework and she said, 'Dad, the internet in our house sucks'," he recalled.
What was that?
That big thing...that will change India forever...for good..
Ambani said - Akash, at that time, stated that in the old world, telecom was the voice and people made money on calls but in the new world everything is DIGITAL...!!
One simple but powerful idea..high speed internet is future
After the conversation, he researched more about it & found out that India was suffering from poor connectivity of data & prices were high which was not affordable to majority of Indians.
Dream was BIG...but it was game-changer...
After years of planning & research, Jio was finally launched on 5th September, 2016.
There was lot of competition...but Winning is their DNA..
It clicked...Indian customers loved it..
Digital revolution 2.0 in India just got started...
Digital Bharat..affordable cost..
Reliance Jio extended the free usage period for Jio services to its existing and new customers till March 31, 2017.
Jio reached the 100 million user mark in the first 170 days, adding consumers at an average of 600,000 a day.
It has been reported that around 6 million units of Jio Phone were booked within three days of its pre-booking that started on August 24.
And then came FIBER....yes...the new age gold.
They first announced as Jio GigaFiber in 2018 at the Reliance Industries 41st AGM. Later renamed Jio Fiber, it did commercial launch on September 5, 2019
This was truely a revolution..
How did it transform?
And this was just part of the game...
There was a bigger game..
So it's mobile + Broadband + OTT..
Truely - Karlo DIGITAL duniya mutthi mai..😀
Game-changing...
And market also rewarded it
Why not - it was thinking about FUTURE..
Yes...and the future is surely DIGITAL..
What it do to INDIA?
But one thing is for sure...it changed the DIGITAL landscape of INDIA forever..for good..
And transformed lives of crores of Indians
Hope you enjoyed this mega thread..
Connect with me here: https://t.co/bteXXhg269
More from Vivek Mashrani, CFA
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1/OK, data mystery time.
This New York Times feature shows China with a Gini Index of less than 30, which would make it more equal than Canada, France, or the Netherlands. https://t.co/g3Sv6DZTDE
That's weird. Income inequality in China is legendary.
Let's check this number.
2/The New York Times cites the World Bank's recent report, "Fair Progress? Economic Mobility across Generations Around the World".
The report is available here:
3/The World Bank report has a graph in which it appears to show the same value for China's Gini - under 0.3.
The graph cites the World Development Indicators as its source for the income inequality data.
4/The World Development Indicators are available at the World Bank's website.
Here's the Gini index: https://t.co/MvylQzpX6A
It looks as if the latest estimate for China's Gini is 42.2.
That estimate is from 2012.
5/A Gini of 42.2 would put China in the same neighborhood as the U.S., whose Gini was estimated at 41 in 2013.
I can't find the <30 number anywhere. The only other estimate in the tables for China is from 2008, when it was estimated at 42.8.
This New York Times feature shows China with a Gini Index of less than 30, which would make it more equal than Canada, France, or the Netherlands. https://t.co/g3Sv6DZTDE
That's weird. Income inequality in China is legendary.
Let's check this number.
2/The New York Times cites the World Bank's recent report, "Fair Progress? Economic Mobility across Generations Around the World".
The report is available here:
3/The World Bank report has a graph in which it appears to show the same value for China's Gini - under 0.3.
The graph cites the World Development Indicators as its source for the income inequality data.
4/The World Development Indicators are available at the World Bank's website.
Here's the Gini index: https://t.co/MvylQzpX6A
It looks as if the latest estimate for China's Gini is 42.2.
That estimate is from 2012.
5/A Gini of 42.2 would put China in the same neighborhood as the U.S., whose Gini was estimated at 41 in 2013.
I can't find the <30 number anywhere. The only other estimate in the tables for China is from 2008, when it was estimated at 42.8.
