Jio Platforms is pumping in $200 million (over Rs 1500 crore) in Glance, in which Google put $140 million in December 2020. The locked-screen app, which comes pre-installed in several Android phones including from the stable of leaders Samsung and Xiaomi and is said to have 400 million 'users', puts out media content, news and games. Analysts reckon that this is yet another gambit from the Mukesh Ambani’s stable to grow beyond India and make inroads in newer markets.
"The proposed investment by Jio is aimed at accelerating Glance’s launch in several key international markets outside of Asia such as the USA, Brazil, Mexico and Russia," a press statement from Jio said.
Glance is aiming to become the world’s largest live content and commerce ecosystem on the lock screen, and is also backed by Google and Silicon Valley-based venture fund Mithril Capital.
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Glance to come pre-installed in JioPhone Next
Concurrent with the proposed investment, Glance has also entered into a business partnership arrangement with Reliance Retail Ventures, providing for Glance’s ‘lock screen platform’ to be integrated into the JioPhone Next smartphones.
This should bring in good numbers to Glance as JioNext phone is seen as the next 'disruptor' in the Indian market.
This is the latest in a series of strategic partnerships between Glance and global players in the mobile ecosystem. The deal is also expected to lead to further strategic collaborations between Glance, Reliance Retail and Jio across devices, commerce, content and gaming ecosystem, the company said.
Glance allows for users to experience the best of the internet without searching, downloading any apps or even unlocking their phones. It has accomplished this by personalized, AI-driven content, live entertainment commerce and gaming on the lock screen.
Akash Ambani, Director, Jio Platforms, said, “Glance has grown at a phenomenal pace over the past two years and has given users a truly unique solution by unlocking the power of the lock screen for experiencing the internet, live content, creator driven entertainment commerce and gaming."
Naveen Tewari, Founder & CEO of InMobi Group, which owns Glance said "Reliance is now disrupting the smartphone market with launch of its JioPhone Next smartphones. Jio’s investment into Glance and Glance’s presence on the lock screen of JioPhone Next smartphones will lead to a paradigm shift in how its users experience the internet."
Founded in 2019, Glance is a consumer internet company, which also runs Reposo, a creator-led live entertainment commerce platform.
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