JAKARTA (TheInsiderStories) – Internet giant company, Google, has confirmed its plan to invest in Indonesia ride-hailing service Go-Jek, aiming to support and participate in Indonesia’s growth.
“Go-Jek is led by a strong Indonesian management team and has a proven track record of using technology to make life more convenient for Indonesian across the country. This investment lets up partner with a great local champion in Indonesia’s flourishing startup ecosystem, while also deepening our commitment to Indonesia’s internet economy,” said Google Vice President Caesar Sengupta in a company blog on Monday (29/1).
Google’s blog did not specify how much Google is investing but several sources told that Google was investing about US$4 billion.
According to some reports earlier this month, Google which was made alongside China’s Meituan-Dianping and Singaporean sovereign fund Temasek. The trio were part of a final tranche of a US$1.2 billion round that Go-Jek began negotiating on last April, with commitments from the likes of Tencent and JD.com in China. The terms value Go-Jek at around US$4 billion.
This deal marks the first direct investment from the U.S. tech giant in Indonesia, coming right after its first such deal in India in December 2017.