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Photo: Himanshu Bhatt/NurPhoto via Getty Images

Private equity firm Silver Lake is investing 56.56 billion rupees (about $746.74 million) into Jio Platforms, a telecom subsidiary of India's Reliance system, at a $65 billion valuation.

Why it matters: The deal comes just over a week after Facebook announced a $5.7 billion investment into the company, underscoring Jio's growing importance as an entry point into the Indian market. This investment is also the latest in Silver Lake's recent tech spree, which has brought it stakes in Airbnb, Expedia and Twitter in the last two months.

Go deeper

Ina Fried, author of Login
Jul 30, 2020 - Technology

Apple crushes earnings expectations

Tim Cook, kicking off Apple’s September 2018 event. Photo: Apple

Apple on Thursday handily beat expectations for quarterly sales and earnings and announced a 4-for-1 stock split.

Why it matters: The move comes a day after Congressional hearings and as other Big Tech firms also turned in stellar reports.

Jul 30, 2020 - Economy & Business

Facebook beats Wall Street estimates despite pandemic and boycott

Photo: Thomas Trutschel/Photothek via Getty Images

Facebook's stock was up more than 6% in after-hours trading on Thursday, after the tech giant reported strong revenue growth, despite a global ad slowdown due to the pandemic and a growing advertiser boycott.

Why it matters: Facebook's ability to beat top and bottom line revenue expectations amid the coronavirus crisis and the boycott speaks to the strength of the company's appeal to marketers despite serious challenges.

The startup that wants to disrupt big internet providers

Illustration: Maura Losch/Axios

A new startup backed by funding from AOL founder Steve Case and Laurene Powell Jobs wants to break up broadband monopolies across the country.

Why it matters: Internet access has been crucial during the pandemic, but it's not ubiquitous, and it can be both slow and unaffordable in swaths of the country.