Indonesia Expat
Business/Property News

Google to Invest in Go-Jek

Google is set to invest in Indonesia ride-hailing company Go-Jek as the start-up is expected to also receive funding from two other investors in its latest fundraising efforts, Reuters reports.

The round of funding, the report says, will see Google, Singapore state investor Temasek Holdings Pte. Ltd., and Chinese online platform Meituan-Dianping pouring investment into Go-Jek, which has recently announced the acquisition of three local fintech companies.
However, the three will not be the only companies involved in the funding round, as Go-Jek’s existing investors such as global private equity firms KKR & Co LP and Warburg Pincus LLC will also be participating. In total, the investments will raise about US$1.2 billion, the sources said. However, it is not clear how much the investors are pumping in individually.

The new round of investment will give Go-Jek additional incentive in its efforts to dominate the Indonesian ride-hailing market, which is seeing serious competition from Grab and Uber.
Grab acquired e-commerce platform Kudo earlier in the year and has also announced last month that it has reached a partnership agreement with popular local payment app Paytren.

Photo source:


Related posts

Explosion in Setiabudi Results in One Fatality

Indonesia Expat

New Tax Rules; Returned Goods Increases

Indonesia Expat

Credit Cards Move to PIN Only Starting Today

Indonesia Expat

Jakarta-Bandung High-Speed Train Operation Targeted June 2023

Indonesia Expat

Immigration on Shipping Service Attracting Premium Tourists

Indonesia Expat

Anita Scheeres: Independent Bookseller in Bali

Qraved Team