Go-Jek Raises $1 Billion From Google, Tencent and Other Internet Giants
Go-Jek Raises $1 Billion From Google, Tencent and Other Internet Giants
(Bloomberg) -- Go-Jek has raised just over $1 billion in its latest funding round from a clutch of internet giants including Google, JD.com Inc. and Tencent Holdings Ltd., a person with knowledge of the financing said.
The fundraising doubled the Southeast Asian ride-hailing giant’s valuation to about $10 billion, the person said, asking not to be identified talking about a private deal. Other investors in the first close of its ongoing Series F round included Mitsubishi Corp. and Provident Capital, Go-Jek said in a statement without disclosing financial details. The company declined to comment on its valuation.
The Southeast Asian car-hailing startup aims to expand swiftly, going head-to-head with Singapore-based Grab in everything from mobile payments to food delivery. Go-Jek said it will use the proceeds to shore up its leadership in Indonesia and expand to other markets around the region. Grab said this week it raised more than $3 billion in 2018 as part of its Series H financing round.
--With assistance from Joyce Koh.
To contact the reporter on this story: Yoolim Lee in Singapore at yoolim@bloomberg.net
To contact the editors responsible for this story: Robert Fenner at rfenner@bloomberg.net, Edwin Chan
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