Everyone wants a piece of Jio Platforms

Everyone seems to want a piece of Indian mobile operator Jio Platforms.

In late April, Facebook paid $5.7 billion for a 10% stake in the company backed by India’s richest man. Two weeks later, private equity firm Silver Lake popped its own $750 million check on the company, valuing it at $65 billion, or a 12.5% premium to the value of Facebook’s investment. Vista Equity followed on days later with $1.5 billion, and General Atlantic said last Sunday it would invest $870 million.

The investments come as Jio has managed to amass 388 million mobile users in the world’s largest