Google invests in Indonesia’s ride-hailing platform Go-Jek

Google is the next big-time investor in Indonesian ride-hailing firm Go-Jek, a move that is part of Google’s ambition to grow Indonesia’s digital economy and start-up scene, the tech giant said in a statement on January 29. Notably, this is also Google’s first direct investment in Indonesia.

Google is part of a $1.2 billion fundraising round for Go-Jek together with Singapore state investor Temasek and Chinese mobile internet company Meituan-Dianping. The funds should bolster the Indonesian start-up in its domestic battle with deep-pocketed rivals Grab and Uber.

“This investment lets us partner with a great local champion in Indonesia’s flourishing startup ecosystem, while also deepening our commitment to Indonesia’s Internet economy,” said Caesar Sengupta, vice-president of product management at Google and of its “next billion users initiative,” which is the company’s plan to target its next billion users around the world.

He added that by investing in local companies, building locally relevant products and training local talent, the tech giant hopes to see “more amazing local champions like Go-Jek emerge” in the country.

The current valuation of Go-Jek now stands at $4 billion. In December last year, Go-Jek acquired three financial technology start-ups for undisclosed amounts in a bid to dominate Indonesia’s digital payments industry. Go-Jek’s fleet now exceeds 400,000 drivers and includes motorcycles, cars and trucks. People in 50 cities in Indonesia can now hail a ride.

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Google is the next big-time investor in Indonesian ride-hailing firm Go-Jek, a move that is part of Google’s ambition to grow Indonesia’s digital economy and start-up scene, the tech giant said in a statement on January 29. Notably, this is also Google’s first direct investment in Indonesia.

Google is the next big-time investor in Indonesian ride-hailing firm Go-Jek, a move that is part of Google’s ambition to grow Indonesia’s digital economy and start-up scene, the tech giant said in a statement on January 29. Notably, this is also Google’s first direct investment in Indonesia.

Google is part of a $1.2 billion fundraising round for Go-Jek together with Singapore state investor Temasek and Chinese mobile internet company Meituan-Dianping. The funds should bolster the Indonesian start-up in its domestic battle with deep-pocketed rivals Grab and Uber.

“This investment lets us partner with a great local champion in Indonesia’s flourishing startup ecosystem, while also deepening our commitment to Indonesia’s Internet economy,” said Caesar Sengupta, vice-president of product management at Google and of its “next billion users initiative,” which is the company’s plan to target its next billion users around the world.

He added that by investing in local companies, building locally relevant products and training local talent, the tech giant hopes to see “more amazing local champions like Go-Jek emerge” in the country.

The current valuation of Go-Jek now stands at $4 billion. In December last year, Go-Jek acquired three financial technology start-ups for undisclosed amounts in a bid to dominate Indonesia’s digital payments industry. Go-Jek’s fleet now exceeds 400,000 drivers and includes motorcycles, cars and trucks. People in 50 cities in Indonesia can now hail a ride.

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