Google, Samsung Expected to Invest In Indonesian Ride-hailing Firm Go-Jek

Indonesian Ride-hailing company Go-Jek is reportedly all set to receive investments from U.South. tech giant Google, Republic of korea'due south Samsung Venture Investment Corp, Singapore's sovereign fund Temasek and Chinese due east-commerce company Meituan-Dianping. According to Reuters, all these companies are expected to bring together Become-Jek's latest round of fundraising that tin achieve up to $1.two billion, which will value the company at $3 billion.

While physical numbers are hard to come past, 2 of the sources cited by Reuters seem to believe that Google will invest about $100 million in Get-Jek. Go-Jek'southward current investors include New York-based private equity firms KKR & Co LP and Warburg Pincus LLC, both of whom are also expected to take part in the upcoming fundraiser, with the bargain expected to be finalized adjacent week.

Go-Jek gets Google investment

With Southeast Asia's ride-hailing market heating upwardly, many global firms are being fatigued to the market. In fact the competitiveness of the market has also forced acquisitions. Take hold of just caused India's IKaaz, a digital payments startup, to bolster its offering in Bharat.

Go-Jek itself has been one of the fastest-growing companies in the segment, and has already managed to secure investments from Sequoia Upper-case letter, Northstar Grouping, DST Global and NSI Ventures, alongside KKR and WP. Nigh of these companies invested in Chiliad-Jek back in 2016, when the Indonesian ride-hailing firm managed to secure $550 1000000 venture majuscule funding that valued the company at $1.3 billion.

Go-Jek only started operations in January 2015, merely is said to have grown 900-times within the first 18 months of its launch. The company competes against Singapore-based Grab and American ride-hailing behemoth Uber.

When contacted by Reuters, Google, Samsung, KKR, Warburg and Temasek declined to comment on the matter, while Meituan-Dianping and Get-Jek did not answer to queries.