Mukesh Ambani’s Rs 700 crore AI bet: Reliance Jio buys chatbot startup Haptik; check cool things it can do
3 April 2019 6:30 PM GMT
In a bid to consolidate its position further in the digital space, billionaire Mukesh Ambani-led Reliance Jio has announced that it will pick up about 87% stake in AI Chatbot startup Haptik. We take a closer look.
- The deal which could help Reliance Jio leverage Haptik's AI capabilities, has an estimated value around Rs 700 crore.
- The transaction size, including investment for growth and expansion, is estimated at about Rs 700 crore, with Rs 230 crore as the consideration for the initial business transfer," Reliance Industries said in a press release.
- "The investment focus is on the enhancement and expansion of the platform, with an addressable market opportunity of over 1 billion users in India," noted the firm.
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