Google plans to finance Indonesian ride-hailing company Go-Jek

Date: 2018-01-29   Author: Pankaj Singh  Category: #industry

Google plans to finance Indonesian ride-hailing company Go-Jek

In a bid to be a part of Indonesia’s growing digital economy, tech giant Google has announced that it plans to invest a substantial amount in the country’s primary ride-hailing company, Go-Jek. So far, state reports, Google has not disclosed the actual amount of investment. Through this initiative, the company apparently is looking forward to targeting its billion-user base across the globe.

As per reliable sources, this move is likely to emerge beneficial for Indonesian start-up companies to tap into digitalization and the internet cosmos, using Google’s first-class technical assistance. The VP of Google, Caesar Sengupta, has been quoted stating that Go-Jek has used its technology to make the life of the common Indonesian citizen much more convenient, courtesy – the firm’s strong management team. Furthermore, he also added that this investment has enabled the company to sign on a lucrative deal with one of the local Indonesian start-ups.

Though Google has not yet disclosed the actual investment, sources claim that the amount is a part of the USD 1.2 billion worth fundraising strategy of the company. As per reports, Google seems to have provided financial aid to the Indonesian start-up group through this fundraiser, which is likely to prove rather beneficial for Go-Jek to deal with its rival, Uber mainly across Indonesia.

Reports cite that prior to this agreement, Go-Jek acquired financial technology companies comprising Mapan, payment gateway Midtrans, and offline payments service Kartuku in order to dominate the digital payment industry of Indonesia. These acquisitions apparently helped Go-Jek improve its offline and online payment service facilities and also aided the firm to increase its involvement in the payment sector of Indonesia.

Meanwhile, the President of Go-Jek, Andre Soelistyo, has been quoted claiming that the acquisition of financial companies is certain to accelerate the involvement of millions of Indonesians stimulating the economic productivity of country.



About Author


Pankaj Singh linkdin-boxtwitter

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

Post Recommendents

Antenatal Screening Market Share, By Product Analysis, Application, End-Use, Regional Outlook, Competitive Strategies & Forecast up to 2028

Author: Ashwin Naphade

Global Antenatal Screening Market, 2022-2028 Research Report provides crucial statistics on the market status of the Global Antenatal Screening manufacturers and is a respected source of guidance and direction for companies and individuals interes...


Pediatric Vitrectomy Market Size | Global Industry Analysis, Segments, Top Key Players, Drivers and Trends to 2028

Author: Ashwin Naphade

Global Pediatric Vitrectomy market report provides major statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

The Pediatric Vitrectomy market repor...


Legionnaire Disease Testing Market Comprehensive Analysis, Share, Growth Forecast from 2022 to 2028c

Author: Ashwin Naphade

This report studies the Global Legionnaire Disease Testing market status and outlook of global and major regions, from angles of players, regions, product types and end industries; this report analyzes the top players in global and major regions, ...