“It’s really the world’s biggest startup,” Mukesh Ambani, chairman of Reliance Industries Limited (RIL) said at an event about Jio in March 2016. There was a certain irony to this statement. Here was the head of one of the largest conglomerates in India starting a new telecom venture with a Rs 1,50,000 crore ($22.54 billion) investment. And equating his venture to a scrappy startup struggling to raise seed funding or even proof of concept money. Many rolled their eyes in newsrooms after this statement, but eventually, almost everyone carried the same sort of headline.
Not personal, just business
How Reliance Jio works
It is all in the family. But since it’s for communication, this time, the Ambanis have opened up a two-way channel
At Reliance Jio, there is no CEO or a COO. Instead, it has a number of family members, directors, and presidents to make decisions
The company says that this was by choice and insists the telecom arm should function as a startup, even though it is part of the conglomerate
Turns out, there are three instances where a company can function without a CEO
Observers say it's worth keeping an eye on Isha and Akash—Mukesh Ambani's children who currently serve as directors in Jio