Technology Go-Jek raises $1 billion in round led by Google, Tencent, JD

Go-Jek raises $1 billion in round led by Google, Tencent, JD

FILE-A Gojek driver rides his motorcycle through a business district street in Jakarta, June 9, 2015

Indonesian ride-hailing firm Go-Jek has raised around $1 billion in a funding round, led by Alphabet Inc’s Google, Inc and Tencent Holdings, sources familiar with the matter said on Friday.

Google, Tencent and have invested in Go-Jek earlier.

The company said in a statement on Friday it had finalised the first close of its series F funding round, with Mitsubishi Corp and Provident Capital joining as investors.

While Go-Jek declined to comment on the amount raised or its valuation, sources say that the company is valued at $9 billion to 10 billion.

Reuters reported in September that Go-Jek was seeking to raise $2 billion from its current investors, as it challenges Singapore-based rival Grab for a larger share of the region.

Launched in 2011 in Jakarta, Go-Jek – a play on the local word for motorbike taxis – has evolved from a ride-hailing service to a one-stop app through which its customers can make online payments and order everything from food and groceries to massages.

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