The Business Times

Google says invests in Indonesian ride-hailing firm Go-Jek

Published Mon, Jan 29, 2018 · 05:25 AM

[SINGAPORE] Google has invested in Indonesian ride-hailing firm Go-Jek, as part of its strategy to support and participate in the growth of Indonesia's internet economy, Caesar Sengupta, a vice president at Google said in a company blog.

"This investment lets us partner with a great local champion in Indonesia's flourishing startup ecosystem, while also deepening our commitment to Indonesia's internet economy," Mr Sengupta said in a post titled "Investing in Indonesia".

This month, sources told Reuters that Alphabet's Google , Singapore state investor Temasek and others were investing in Go-Jek as part of a US$1.2 billion fundraising round, bolstering the Indonesian start-up in its battle with deep-pocketed rivals Grab and Uber.

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Technology

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here