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, JD.com Inc and Tencent Holdings, sources familiar with the matter said on Friday.

Google, Tencent and JD.com 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.

Previous article“Mr Dior? He was like family,” 1950s model recalls
Next articleTesla begins sales of cheaper Model 3 car variant in China