Google plans to finance Indonesian ride-hailing company Go-Jek
Date: 2018-01-29   Author: Sunil Hebbalkar  Category: #industry

In a bid to be a part of Indonesia’s growing digital economy, tech giant Google has announced that it plans to invest a substantial amount in the country’s primary ride-hailing company, Go-Jek. So far, state reports, Google has not disclosed the actual amount of investment. Through this initiative, the company apparently is looking forward to targeting its billion-user base across the globe.

As per reliable sources, this move is likely to emerge beneficial for Indonesian start-up companies to tap into digitalization and the internet cosmos, using Google’s first-class technical assistance. The VP of Google, Caesar Sengupta, has been quoted stating that Go-Jek has used its technology to make the life of the common Indonesian citizen much more convenient, courtesy – the firm’s strong management team. Furthermore, he also added that this investment has enabled the company to sign on a lucrative deal with one of the local Indonesian start-ups.

Though Google has not yet disclosed the actual investment, sources claim that the amount is a part of the USD 1.2 billion worth fundraising strategy of the company. As per reports, Google seems to have provided financial aid to the Indonesian start-up group through this fundraiser, which is likely to prove rather beneficial for Go-Jek to deal with its rival, Uber mainly across Indonesia.

Reports cite that prior to this agreement, Go-Jek acquired financial technology companies comprising Mapan, payment gateway Midtrans, and offline payments service Kartuku in order to dominate the digital payment industry of Indonesia. These acquisitions apparently helped Go-Jek improve its offline and online payment service facilities and also aided the firm to increase its involvement in the payment sector of Indonesia.

Meanwhile, the President of Go-Jek, Andre Soelistyo, has been quoted claiming that the acquisition of financial companies is certain to accelerate the involvement of millions of Indonesians stimulating the economic productivity of country.



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Sunil Hebbalkar

Sunil Hebbalkar

Sunil currently works as an associate content writer at AlgosOnline. A Post graduate mechanical design engineer by qualification, he worked as an intern at the defense lab for one year in the engine design and development department before switching his professional g...

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