Reliance Industries Have Taken Over A Young Entrepreneur’s Startup Known As New Emerging World of Journalism By Investing 10.3 Million Rupees

Publish Date : 2018-11-29

The very established Reliance Industries have developed generous stake in the media and communication sector and had taken over the New Emerging World of Journalism commonly known as NEWJ by investing about 10.3 million rupees in the initial stage. Reliance Industrial Investments and Holdings Limited commonly known as RIHL applied for thirty thousand equity shares and almost 125 convertible debentures in the initial stage that was worth 10.3 million rupees and eventually New Emerging World of Journalism was undertaken by the Reliance Industries by purchasing the maximum shares of it. NEWJ is a new startup that was popular for producing video content for digital devices like PC and smartphones o that it can reach young generation. Reliance Industries Limited during a recent conference stated that visual story telling has great potential to grow in India regarding the major involvement of people in the social sites and video appreciation all over the country. NEWJ runs on an objective of filling the digital media space with good and informative contents. The company was set up by a young entrepreneur Shalabh Upadhyay. New Emerging World of Journalism explained that that the company will take it as a point where they need to focus more on their work and encourage more valuable content.