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Jakarta Post

Go-Jek enjoys golden year amid fund inflow

  • The Jakarta Post

Jakarta   /   Wed, February 14 2018   /  12:11 am

The year 2018 may be a boom one for homegrown ride-hailing operator Go-Jek as it continues to attract funding from major global and local companies in support of its business expansion.

Seen as one of Indonesia’s startup unicorns (companies with a valuation of over US$1 billion), Go-Jek saw investment by US-based tech titan Alphabet Inc.’s Google in January as the latter raced to tap the country’s growing number of internet users.

Local giants like diversified conglomerate Astra International and Djarum Group’s subsidiary PT Global Digital Niaga (GDN) followed suit on Monday by announcing their investments in Go-Jek, formally PT Aplikasi Karya Anak Bangsa.

With an investment totaling $150 million in Go-Jek’s minority shares, publicly listed Astra, which has businesses ranging from automotive manufacturing to banking, may be envisioning a roadmap to enlarge ...