Th is pegs the post-money valuation of the entity at $301 million. Therefore, the merged entity is valued at $970 million, with Reliance committing to invest another $80 million into the venture . Investments like Saavn is a part of Jio’s user acquisition strategy in a bundled offering. As far as the battle for the Indian market is concerned, Gaana’s revenues are more than Saavn’s in the local market. As long as they keep driving data consumption, there is no pressure for them to show profits and losses.”

Source: Economic Times April 02, 2018 03:12 UTC