TEMPO.CO, Jakarta - Go-Jek, a ride-sharing application company, received a capital of US$2 billion, equivalent to Rp29 trillion.
As reported by the Straits Times news agency, Go-Jek received the funding to deal with tight competition with its rival, Grab.
The competition is getting stronger after Grab and Uber who adopted the technology system from Uber joined. Grab also has received funding of US$3 billion this year.
Read also: Go-Jek Starts Operating in Vietnam
Go-Jek and Grab are not only competing in the transportation business but are venturing into other sectors such as bill payment services, food orders to purchase cinema tickets.
Go-Jek President Andre Soelistyo said Go-Jek was developing other businesses outside transportation. “We want to make changes in Asia and Southeast Asia,” Andre said.
Go-Jek has spread to a number of countries such as Singapore, Vietnam, Thailand and the Philippines in the near future.
Go-Jek has received funding of around US$1.5 billion, the company’s value currently reaches US$5 billion.
DEWI RINA CAHYANI