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

Google plans to finance Indonesian ride-hailing company Go-Jek

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.



About Author


Pankaj Singh

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

More from Pankaj


Post Recommendents

Foam Tray Market Size Outlook 2025: Top Companies, Trends, Growth Factors Details by Regions, Types and Applications
Author: Partha Ray

This is a professional and in-depth study on the current state of the Foam Tray Market. Report initially provides a basic overview of the industry that covers definition, applications and manufacturing technology, post which the report explores in...


On-board Wireless Sensor Market Size, Growth, Analysis, Outlook by 2020 - Trends, Opportunities and Forecast to 2025
Author: Partha Ray

Global On-board Wireless Sensor Market 2019 Includes Market Size, Share, Trends, Growth, Demand, Supply, Application, Segmentation, Opportunity, Market Development, Production, Capacity Utilization, Supply, Analysis and Forecast by 2024

.


Waste Incinerators Market Size, Latest Trend, Growth by Size, Application and Forecast 2025
Author: Partha Ray

Market Study Report LLC adds a new report on Waste Incinerators Market Share for 2019-2024. This report provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the ...