TEMPO.CO, Jakarta - Google reportedly invested in the ride-hailing mobile application Go-Jek as an attempt to support and participate in Indonesia’s internet economic growth.
“The funding deepens Google's commitment to Indonesia's internet economy,” said Google Vice President Caesar Sengupta as reported by Reuters on Monday, January 29.
Read: Go-Jek to Expand in SE Asia, Competes with Uber and Grab
A source from the company said to Reuters that Google, Temasek, and Meituan-Dianping invested into Go-Jek and participated in the fundraising that was held at the end of last year.
The fundraising was also participated by KKR & Co. LP and Warburg Pincus LLC. It reportedly managed to collect a total of US$1.2 billion.
Read: SE Asia Startup Generated Investments up to 12 billion US Dollar
This latest investment will further empower Go-Jek and place them well-ahead their competitors such as Grab and Uber. Indonesia has become a purpose of expansion considering its large lucrative market.
Go-Jek not only provides online transportation services, but it also has expanded to the food delivering service and has also developed an in-house digital payment system named Go-Pay. The company is currently developing its QR code payment system.
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